Only way is up for THG as Moulding hails FTSE 250 listing as ‘important moment’
THG expects to have its shares traded on the FTSE 250 index, as part of the FTSE Russell quarterly review.
The shares hit rock bottom on Monday morning and were trading at 32.68p, their lowest price since its IPO in 2020.
Inclusion on the FTSE 250 index is expected to become effective on or around 21 March 2025.
Matthew Moulding, CEO and founder of THG, said: “Our anticipated inclusion in the FTSE 250 marks an important moment in THG’s evolution following the demerger of THG Ingenuity. As a global beauty, health and wellness consumer brands group, we continue to make significant progress against our strategic priorities.”
Three weeks ago an analysts’ report from Jefferies painted an optimistic picture of THG’s future and set a target price of 75p per share, but the shares have continued to trade at a historic low level, despite that vote of confidence.
In its first trading update in January since it demerged its Ingenuity business, the company said it is now “a global, cash generative, health and wellness consumer brands group comprising THG Beauty and THG Nutrition.”
Guidance to the market is that THG will record turnover of £1,942.7m and profits in the expected range of £121.9m – £132.6m.
Looking ahead into 2025 THG says the retail business will deliver “mid-single digit revenue growth in FY 2025, given continued confidence in prestige beauty demand across our key markets, and a return to growth in Nutrition, evidenced by a much-improved start to the year across online and offline channels.”
