THG has recorded its first year of annual revenue growth since 2021, as the retailer posted a 2.3% revenue rise to £1.72bn in 2025.

The company said it recovered from an H1 revenue decline of -2.5% to deliver 6.7% growth across the H2 period.

THG, an e-commerce group and brand owner headquartered in Manchester, operates through two consumer businesses, THG Beauty and THG Nutrition.

The FTSE 250 group said that THG Beauty had delivered its strongest Q4 growth performance since Q4 2021, reaching £370.2m. THG Nutrition also delivered £157.2m in Q4, to give the retailer total group revenue of £527.4m to close the year.

“We finished 2025 on a high with our best quarter of the year thanks to a strong November and December period,” said THG CEO, Matthew Moulding.

“In THG Beauty, our strategy to focus on core categories and territories is delivering clear results, with Lookfantastic UK achieving exceptional growth. We continue to accelerate our digital leadership, prioritising high-margin prestige brands and enhancing personalisation by increased use of AI and virtual tools.

“THG Nutrition has delivered its fourth consecutive quarter of revenue growth, driven by the strength of the Myprotein brand and our successful offline global expansion strategy which has seen us exceed our distribution targets across retail and licencing.

“We enter the new year with strong trading momentum and a clear focus on continuing to deliver quality, value and newness for our customers.”

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