// The Hut Group is separating its beauty division and will publicly list it in 2022
// THG said all divisions of the business had grown over the period
The Hut Group (THG) has reported growth across all areas of the business following its public offering last year.
The tech platform and beauty retailer recorded adjusted EBITDA up 39 per cent year on year to £81.2 million in the six months to June 30.
The retailer said this was driven by a 45 per cent jump in revenues over the same period to £958.8 million, up 95 per cent compared with 2019.
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THG said all divisions of the business had grown over the period, with revenues at its beauty sub-section up 59 per cent.
The retail group is now planning to list THG Beauty division as a separate entity on the London Stock Exchange later this year as it seeks to separate each trading division.
THG said separating its key trading divisions will position the business for further growth globally as well as expand its own-brand portfolio.
Chief executive Matthew Moulding said: “I am delighted to announce a strong first-half performance across all divisions as we continue to invest significantly in support of our strategic growth ambitions.
“This investment is across our entire business, including our infrastructure, namely our recently opened ICON campus and our global distribution network, in our Ingenuity platform, in building leading digital brands and, most importantly, in our people.
“In May, we announced the financial and trading partnership opportunity with SoftBank, one of the world’s leading technology investors. We are only at the start of this relationship, but we are pleased to have already established multiple live commercial partnerships between the SoftBank portfolio and our Ingenuity platform.
“We continue to see an acceleration in levels of enquiry from global enterprises looking to leverage the Ingenuity platform, and I believe the global growth opportunity for Ingenuity to be unparalleled.
“Today we also update on the roadmap to separating our key trading divisions and announce our commitment to list THG Beauty in 2022, which we believe will create further value for our shareholders.
“We are also proud to be launching our 2030 sustainability strategy, outlining our key priorities and commitments in the coming weeks.”
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