THG

UK's Hut Group raises revenue guidance in debut trading update

British e-commerce company The Hut Group upgraded its full-year revenue guidance on Monday in its first trading update since listing last month, boosting its shares by 10%.

LONDON, Oct 26 (Reuters) - British e-commerce company The Hut Group THG.L upgraded its full-year revenue guidance on Monday in its first trading update since listing last month, boosting its shares by 10%.

The company, which helps sell retail brands including Lookfantastic and skincare group ESPA, said that following a strong third-quarter performance and continued momentum into its final quarter, it now expected full-year revenue to rise by up to third to about 1.48-1.52 billion pounds ($1.93-1.98 billion).

At the time of its initial public offering (IPO), it had guided to revenue of about 1.43 billion pounds.

The company said revenue in its third quarter increased 38.6% year on year to 378.1 million pounds, up from the 35.8% growth rate seen in the first half.

Shares in the company, which were sold at 500 pence in the IPO, rose to a new high of 780 pence in early dealing. They were up 10.5% at 749 pence at 1007 GMT.

($1 = 0.7664 pounds)

(Reporting by Paul Sandle; Editing by Mark Potter)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

THG

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More