THG has reported a strong start to its current financial year, stating that its full year revenue and earnings are expected to land in line with expectations.

The beauty and nutrition brand stated in its pre-AGM trading update that its guidance is underpinned by H1 revenue growth of 6.5%, while its earnings have reached at least £40m in the same period.

Its H1 2026 free cash flow is also set to be at its strongest since 2021.

THG’s beauty division has recorded 9.2% revenue growth in the year to date, underpinned by a strong skincare performance. Its Lookfantastic brand "continues to outpace the UK prestige beauty market", supported by new brand launches including Dyson, BEAME and Dr. Loretta, as well as a growing active customer base.

Lookfantastic has also continued to demonstrate "social commerce leadership as the number one multi-brand beauty retailer" on TikTok Shop, with year-on-year revenue growth increasing by 48% in Q2.

In its nutrition division, sales growth has continued across online and offline channels, with an ongoing mix shift towards gross margin accretive products and categories helping to mitigate highly elevated whey input costs alongside strategic pricing.

Its customer base is also growing, underpinned by record aided awareness, brand recognition and consideration.

Following the trading update, shares in THG dropped by over 2%.

CEO at THG, Matthew Moulding, stated: "We are on track with our growth and margin expansion strategy across the group. By prioritising home markets and trending categories in THG Beauty, we continue to drive high-quality growth across an expanding customer base.

"In THG Nutrition, Myprotein is reaching more consumers than ever. Year-to-date unit growth of 60% has been underpinned by our rapid retail expansion and category diversification, with c.18% of D2C customers purchasing activewear in May 2026.

"The group continues to deliver strong year-on-year Adjusted EBITDA growth, notwithstanding the broader macroeconomic backdrop, including unprecedented whey commodity inflation levels."

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