THE WHAT? THG PLC, the Manchester-based online retailer of beauty and nutrition products, has reported full-year results for 2024 in line with expectations, while announcing strategic milestones.

THE DETAILS THG completed the demerger of its Ingenuity business in January, sharpening its focus on its core Beauty and Nutrition segments. Adjusted EBITDA for 2024 met market consensus, with improved trends in the Nutrition division during the second half of the year and enhanced profit margins in the Beauty segment due to “promotional discipline.”

THE WHY? Revenue for the Beauty business grew despite overall declines in the company’s total revenue, with highlights including the success of its loyalty program and the launch of Lookfantastic’s first physical store. Ingenuity, meanwhile, delivered robust 16% growth to GBP191.8 million in 2024 and a 23% surge in Q4 a