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THG’s Full Year Core Earnings Miss Warning Sends Shares to Record Low

THG Plc warned that profitability missed analysts’ estimates and forecast sales growth will decelerate this year.
Adjusted core earnings for the six months ended June for THG, which also has beauty and nutrition units, slumped 60 percent to £32.3 million. (Shutterstock)

British e-commerce group THG said on Thursday it expects annual core earnings to fall short of analysts’ expectations on higher commodity prices, sending its shares down 10 percent to a record low.

Adjusted core earnings for the six months ended June for the company, which also has beauty and nutrition units, slumped 60 percent to £32.3 million.

“Supporting our consumers through 2022 has been offset through reducing 2023 capex ...,” chief executive officer Matthew Moulding said in a statement.

THG said it expects full-year adjusted core earnings to be between a range of £100 million to £130 million.

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THG Forecasts Slower Growth After Profit Misses Estimates

THG Plc warned that profitability missed analysts’ estimates and forecast sales growth will decelerate this year amid record commodity prices and continued uncertainty from the pandemic.

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