2023: UK e-commerce firm THG reports 8.7% annual revenue decline to £2bn, but experiences growth in Q4; pre-tax loss reduced to £252m.
THG, the UK e-commerce firm behind brands MyProtein and Cult Beauty, reported an annual revenue decline of 8.7% to £2bn in 2023, but experienced growth in the last three months of the year. The company's pre-tax loss was reduced from £549.7m to £252m. Despite the overall revenue decline, the company attributed it to discontinuing loss-making categories. THG expects this momentum to continue into 2024.
April 10, 2024
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