Sep 16, 2021
THG to spin off its beauty business
For the half year THG reported adjusted ebitda up 38.6 per cent to £81.2m and an operating loss of £17.4m. Sales grew to £959m from £676m the year before. Its half-year results showed adjusted pre-tax profit surging 221 per cent year on year to £46.5m on the back of expansion of its digital business. For the half year ended August the maker of Tennent's lager and Bulmers cider targeted an operating profit of €16m, compared to a loss of €12m the year before. Superdry posted a £36.7m pre-tax loss for the full year ended April, narrowing from a £166.9m loss the year before as cost saving measures and government support helped offset trading shortfalls. A government official briefed on the talks said the UAE's overall investment commitment over five years would be about £10bn. Banca Generali has written down the value of almost half a billion euros worth of bonds connected to the Italian public healthcare system, a small amount of which were revealed last year to have been backed by assets linked to Mafia front companies.
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