AGM Trading Statement
Return to Group revenue growth in Q2, FY 2025 guidance unchanged
Figures and commentary reflect continuing CCY[1] unless otherwise stated.
As anticipated, trading in the second quarter has been much improved across both Beauty and Nutrition, with the Group returning to CCY revenue growth, underpinned by a strong June exit rate supporting unchanged FY 2025 guidance.
THG Beauty
· Following a significant improvement quarter-on-quarter, Beauty is expected to deliver a revenue decline of between -2.0% and -3.0% (Q1: -9.8%).
· Beauty retail, which comprises the vast majority of the Beauty business, traded resiliently with growth in the
· Beauty own brand revenue was held back in the quarter reflecting timing differences of key customer orders which are expected to reverse in H2.
· Positive momentum within Nutrition continues to build, with new customer growth supporting a solid online performance. Q2 2025 revenue growth is expected to be between +5.0% and +7.0% (Q1 2025: +0.1%), with the business growing at its fastest rate since Q1 2022.
· From a largely standing start 3 years ago, Nutrition's offline strategy is gaining significant traction. Myprotein products are now available in over 34,000 doors, principally within the
· Offline expansion across the US has been particularly pleasing with an almost 5-fold increase in doors expected during the year to c.8,400 (2024: 1,500). Notable US wins include listings in Walmart, CVS and expansion into additional GNC stores.
· Myprotein's move into both the offline and licensing space will see c.45 million units sold via these channels during 2025 through >40,000 global doors by the end of the year, enabling Myprotein to reach millions of new customers and further amplify brand awareness. The retail sales value of offline and licensed products is expected to be around
· While both milk and whey prices continue to be elevated, there are some recent signs of softening, especially across the highest concentrations of protein.
Whilst our direct exposure to tariffs is expected to be less than
Results from the AGM will be published later today via RNS as soon as practicable following the conclusion of the meeting.
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Sodali & Co - Financial PR adviser |
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ENDS
Notes to editors
THG Beauty operates prominent online platforms including