THG to list beauty division next year

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The latest information on The Hut Group

THG said it plans to list its beauty division separately in 2022 and can also pursue listings on other major e-commerce business and technology and logistics divisions on the stock market.

THG Beauty, which includes brands such as Espa and Lookfantastic, reports sales for the six months to the end of June increased from £ 296m in the year-ago quarter to £ 461m.

“The individual listing of THG Beauty will allow us to focus on investing in key growth areas, including expanding our own brand portfolio,” the company said in a statement Thursday. “We are still considering the decision and timing of listing THG nutrition individually,” he added.

THG Nutrition, the group’s other major e-commerce business, manufactures a variety of fitness and nutrition products. Sales in the first half increased from £ 258m last year to £ 328m.

Overall revenue was £ 985m, exceeding analysts’ forecasts of £ 942m on average.

The Manchester-based company, formerly known as The Hut Group, has already agreed to sell a 20% stake in the technology and logistics division to a Japanese SoftBank unit that owns approximately 8% of the group. I am. May.

The division’s separation work is ahead of the plan and its date. The division will initially remain a majority-owned subsidiary of THG, but the group will “determine subsequent IPOs or other Ingenuity structural options with the aim of maximizing the value of all shareholders. We retain the ultimate discretion and flexibility. “

THG to list beauty division next year Source link THG to list beauty division next year

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