THG announce Beauty IPO

THG (THG) announced mixed interim results, with the reported figures overshadowed by the announcement that the group’s THG Beauty division will be spun off and listed as a separate entity during the first half of 2022. The ecommerce group recorded a loss of £82m for the six months to 30 June, worse than last year’s £48m negative, despite total revenues being up 45 per cent to £959m on a constant currency basis and outperforming analyst estimates.