THG Profit Doubles but Warns of Q3 Tariff Hit
British e-commerce group THG reported that its first-half core earnings more than doubled, driven by price hikes and growth at Myprotein. However, the company warned of a third-quarter revenue slowdown due to new EU import duties.
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THG PLC posted a 109% surge in first-half core earnings to £42.8 million ($58.02 million) on Thursday morning, driven by price hikes and growth in its Myprotein brand. The United Kingdom e-commerce group reported strong early momentum despite rising commodity pressures across its retail network. However, the company cautioned that new European Union import duties would weigh heavily on third-quarter revenue growth.
