THG to spin off its beauty business

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E-commerce group THG He has unveiled plans to spin off the beauty business, including the Lookfantastic website, and focus on its own brand instead.

Formerly known as The Hut Group, the company said it plans to float THG Beauty in 2022. said. “We are still considering the decision and timing of listing THG nutrition individually.”

The potential for THG’s dissolution follows SoftBank’s investment in Ingenuity, the company’s e-commerce marketing and logistics division, in May. According to THG, work was well underway to separate the divisions in the first half of 2022 and allow SoftBank to acquire a 19.9% ​​stake.

For six months, THG reported adjusted ebitda up 38.6% to £ 81.2m and an operating loss of £ 17.4m. Sales increased from £ 676m in the previous year to £ 959m. Management did not change the guidance for the whole year.

simply

AshtedThe Tool Rental Group said it expects full-year performance to exceed previous expectations of improving the outlook for the US and UK markets. In the first quarter, Ashted, which ended in July, pre-tax profit increased 74% to $ 416 million and revenue increased 21% to $ 1.9 billion. Ashted has raised its group rental revenue growth target this year from 6-9% to 13-16%.

DIY retailer Wicks He said he expects adjusted pre-tax profits this year to approach the upper limits of analysts’ expectations. The six-month results showed that adjusted pre-tax profit was £ 46.5m, up 221% year-on-year, against the backdrop of expanding digital business.

IG group Customer numbers eased in the quarter ended in August, compared to the exceptional levels seen in the previous year. With the exception of Tastytrade, a recently acquired US division, IG has added 21,900 new client accounts. This is 37% less than in the same period last year. IG reported in the first quarter that Group revenues increased 6% to £ 221.7 million.

Retail company Games workshop Despite pressure on fares and exchange rates, he said the three-month transaction to August was in line with board expectations.

Drink maker C & C group Since April, the gradual relaxation of hospitality regulations has led to a significant recovery in transactions, he said. Tennent’s lager and Blumers cider makers were targeting operating profit of € 16 million in the six months ended in August, compared to a loss of € 12 million in the previous year. There was no mention of Chair Stewart Gililand. Report overnight I plan to resign next year.

Ryanair He said offering a new fleet over the next five years will bring a gradual change to the growth of the network. The airline’s pre-Covid passenger number of 149m is expected to increase to more than 225 million by March 2026, which is 25m more per year than its previous target of 200m, according to AGM’s latest information. Stated.

Super Dry It posted a £ 36.7m pre-tax loss for the full year through April, down from a loss of £ 166.9m in the previous year as cost savings and government support offset the trading shortage. Revenues were down 21.1% to £ 556.1m. Fashion retailers said High Street’s footsteps remain restrained, but this year’s guidance hasn’t changed.

Oxford Nanopore, Gene sequencing specialists have revealed that Oracle has entered the market as a key investor ahead of the float on the London Stock Exchange. As part of the proposed collaboration, Oracle has agreed to underwrite £ 150m of new shares at the offer price. The news of the alliance came when Oxford announced plans to generate a total revenue of around £ 300 million in addition to existing investor sales, and LSE’s entry into the major markets is expected in early October. came.

Roof and tile maker Marley I made a plan to float in the main market of LSE.

Beyond square miles

United Arab Emirates Is to announce Significant increase in investment in the UK As the Gulf countries expand their multi-billion pound partnership with the British government. Emirati and UK officials agree that the UAE promises to invest in UK infrastructure, clean energy and technology. Government officials briefed on the talks said the UAE’s five-year overall investment commitment would be around £ 10 billion.

Banka Generali I wrote down the value of Bonds worth nearly 500 million euros It is connected to the Italian public health system, some of which Revealed last year It was backed by assets linked to the Mafia front company.

Didi, China’s leading ride hailing app checks daily user numbers 30 percent fallSince its initial public offering in New York in June, Beijing has banned the company from registering new customers while regulators are conducting data security investigations.

Ray dalio, Founder of Bridgewater Associates, regulators said Shut down bitcoin If the cryptocurrency is so successful that it rejects ArkInvest’s Cathie Wood’s prediction that its price will increase tenfold within five years.

Important comments before going

Blythe Elder Analysts Activist investors aiming for Unilever After a failure by CEO Alan Jope, it has eroded market credibility. However, activists tend to prefer simple wins. Neither the dissolution of Unilever nor the dismissal of the CEO falls into that category.

Robert Armstrong Any Think seriously about inflation We must start by accepting that the long-standing and widely accepted view of the relationship between unemployment, pricing and interest rates has proven to be wrong.

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