# THG Upgrades Full-Year Profit Target to £103 Million on Nutrition Growth

- URL: https://stocks.freetheai.org/news/thg-upgrades-full-year-profit-target-to-103-million-on-nutrition-growth-7bc433
- Published: 2026-10-15T06:00:07Z
- Category: earnings; sentiment: bullish; impact: medium
- Symbols: [LSE:THG](https://stocks.freetheai.org/symbols/LSE-THG)
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E-commerce group THG PLC (LSE:THG) upgraded its full-year profit outlook after delivering higher earnings during the third quarter of 2026. The company raised its target for full-year adjusted EBITDA to £103 million, exceeding market consensus, supported by improved performance in its health and nutrition division. Third-quarter revenue across the group rose 1.5% on a constant currency basis, while core brands and markets grew 6.1%.

Growth was led by THG Nutrition, which generated £152.4 million in revenue, up 5.3% year-over-year, as product volume for flagship brand Myprotein jumped 36.2%. The division expanded its retail distribution through new brand partnerships with Krispy Kreme, Caffè Nero, and Gold's Gym. Profitability also benefited from falling commodity costs, with whey protein prices down about 20% since early September. Meanwhile, THG Beauty recorded revenue of £256.4 million.

Looking ahead, THG PLC expects revenue growth to accelerate in the fourth quarter due to seasonal sales, including beauty advent calendar dispatches. The business remains on track to achieve its first year of positive free cash flow since its initial public offering, projecting between £25 million and £35 million for 2026.

## Key points

- THG PLC upgraded its full-year adjusted EBITDA target to £103 million, beating market consensus expectations.
- THG Nutrition revenue grew 5.3% year-over-year to £152.4 million, with Myprotein product volumes increasing 36.2%.
- Whey commodity prices declined approximately 20% since September, helping to strengthen margin prospects.
- The company remains on track to deliver £25 million to £35 million in positive free cash flow for 2026.

## Questions and answers

### Why did THG PLC raise its earnings guidance for 2026?

THG PLC raised its guidance to £103 million due to strong performance in its nutrition division, higher Myprotein sales volumes, expanding brand partnerships, and a 20% reduction in whey commodity prices.

### How much free cash flow does THG PLC expect in 2026?

THG PLC expects to deliver £25 million to £35 million in free cash flow for 2026, marking its first year of positive cash flow since going public.

### How did THG Nutrition perform in Q3 2026?

THG Nutrition revenue increased 5.3% year-over-year to £152.4 million, supported by a 36.2% increase in Myprotein branded unit volumes.