THG losses deepened by one-off disposal costs
THG operating losses deepened due to a one-off, non-cash charge related to the sale of its loss-making business, but the retailer says the disposal has improved its overall financial guidance.
In its interim half-year results, THG said a one-off charge of £26.2m stemming from the disposal of its loss-making OnDemand business deepened operating losses to £99.5m – from losses of £89.2m for the same period in 2022.
However, THG said its adjusted EBITDA was up 45.7% inclusive of the recently disposed of business and increased its adjusted profit guidance for its full year by £100,000 to £50.1m.
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