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The Hut Group raises profit forecasts

by LLB Editor
12th Jan 21 11:23 am

The online retail giant The Hut Group (THG) has raised full-year revenue forecasts for 2021.

Sales across the business, which owns the MyProtein, Glossybox and Lookfantastic websites, rose by a better-than-expected 51 per cent to £558.7 million in the final three months of 2020, driven by its beauty and protein businesses. The group added more than 3.5 million new active customers during the period.

Matthew Moulding, executive chairman and chief executive, said: “Following our successful listing on the London Stock Exchange in September 2020 we have accelerated our sales growth across all areas of the group, underpinned by record new customer numbers.”

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