THG share price falls again despite seeing revenues increase

The Hut Group (THG) has seen its share price fall again despite recording a surge in revenue in its third quarter trading statement.

The group posted a 38 per cent increase in group revenues to £507.8 million after strong performances from its health and beauty and tech divisions, last week.

However, the news failed to impress investors with shares in the Manchester-headquartered online beauty retailer and software group fell from a close of 306.8 pence on 25 October to a low of 239.8 pence.

THG floated last autumn with a share price of 500 pence.

READ MORE: THG founder to give up “golden share” after stock price plunges

Alongside the news of the group’s increase in revenues, the company also announced more details of its Ingenuity platform and a new boardroom appointment as part of a bid to ease fears that main investor Softbank was losing interest in the company.

THG’s share price has been in free fall since the start of the month after revealing its half year results and announced plans to separate its technology division from its beauty and nutrition arm.

Moulding also announced last week that he was giving up his “golden share” in a bid to regain the trust of investors.

Moulding’s golden share meant that the group was unable to apply for a premium listing and therefore not listed in the FTSE.

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1 Comment. Leave new

  • Mark Andrew Sproston
    October 30, 2021 3:08 am

    The hut group will show you all. Believe me. This Man Matt has done amazing things for his staff making some of them millionaires. He is still recruiting. Hi will make sure us share holders are looked after. Remember it’s not just the hut group that has a lot of problems. We are definitely big enough to support Matt for god sake.

    Cheers to the hut group

    Reply

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