THG posts record full year sales
Online health and beauty retailer THG has posted record full year sales of £2.2 billion following significant growth across all of its divisions in the run-up to Christmas.
In its fourth quarter ending 31 December, revenue rose by 27.1% to £711.7 million which meant that full year revenue was up 35% year-on-year.
While sales in the THG Beauty category increased by 38.9% in the quarter with six orders per second placed during the peak cyber period, THG Nutrition’s revenue rose by 12.1% year-on-year.
Matthew Moulding, THG chief executive, said: “We are delighted to report significant growth across all divisions during the peak Q4 trading period and to have delivered record annual sales of £2.2 billion.
“2021 marked our first full year as a public company and I would like to express my gratitude to all THG colleagues for their dedication and hard work in helping us achieve such a strong performance for the year. Despite challenging conditions, we have scaled revenue and expanded our business model, particularly THG Ingenuity, well ahead of expectations given at our IPO 16 months ago.”
During the year, THG invested around £1 billion across infrastructure, technology and M&A as part of plans to develop the long-term growth prospects of its key trading divisions. The group said it is committed to its strategy of investing for growth across its global fulfilment network and technology platform.
Looking ahead to the outcome of the new financial year, THG is expecting revenue growth of between 22% and 25%.
Moulding said: “The new year has started well, and we remain confident in delivering our strategic growth plans during 2022 and beyond.”
