Manchester ecommerce group THG has reported increased revenues for its third quarter, ending September 30, 2022.
Turnover of £518.6m was up on last year’s £507.8m, while the year-to-date sales figure of £1.595bn is up on the £1.466bn achieved at the same point last year.
The group also confirmed terms of its recently signed £156m banking facility, provided jointly by BNP Paribas, HSBC, and NatWest.
Guidance for cash-on-hand at year-end of circa £500m remains unchanged, with an additional £170m undrawn revolving credit facility available.
Founder and chief executive Matthew Moulding, who earlier this month announced he had increased his stake in the group after Japanese investment giant SoftBank Group sold its shares, said: “The fourth quarter has started positively, and we are well positioned from a logistics and supply perspective to meet the significant uplift in demand anticipated during the cyber period, whilst continuing to deliver a high quality customer experience.
“I’m delighted to confirm the signing of the recently announced £156m of incremental capital from three long-standing lending partners on highly attractive terms. Given the current market environment, this is a strong endorsement of the group’s long term business model, alongside the recently announced increased investment from Qatar Investment Authority.”
