THG's H1 revenues grow, mulls demerger of Ingenuity

Revenue growth driven by beauty and nutrition businesses

THG, the online beauty and nutrition retailer, has reported a 10.1% rise in first-half revenues to £1.23bn, boosted by strong performances from its beauty and nutrition businesses.

The company's beauty sales grew by 16.3% to £732.5m, driven by strong demand for its own-brand products and international growth.

THG's nutrition business also performed well, with revenues increasing by 11.4% to £436.6m. This was driven by growth in the company's sports nutrition and healthy eating categories.

Demerger of Ingenuity

In addition to its financial results, THG also announced that it is considering a demerger of its Ingenuity business.

Ingenuity is a technology platform that provides e-commerce, fulfilment and marketing services to other businesses.

THG said that a demerger would allow Ingenuity to "focus on its own growth opportunities and to better serve its customers".

Outlook

THG said that it is "well-positioned" for the future and that it is "confident" in its ability to continue to grow its business.

The company said that it is expecting to see continued growth in its beauty and nutrition businesses, and that it is also planning to invest in new areas, such as health and wellness.