UK online beauty and nutrition products seller THG on Thursday said it had rejected “numerous” takeover approaches and warned of flat annual earnings due to inflationary pressures.
“The board has concluded that each and every proposal to date has been unacceptable, failing to reflect the fair value of the group, and confirms that THG is not currently in receipt of any approaches,” said chief executive Matthew Moulding.
The company also posted full-year results, with adjusted core earnings of £161m compared with £151m a year earlier and revenue of £2.2bn, up 38.1%.
THG said it expected adjusted core earnings this year to be broadly in line with 2021 and weighted towards the second half.
Current-year guidance remained unchanged with revenue expected to grow between 22%-25%, excluding the 1% revenue impact of the war in Ukraine.
