StockMarketWire.com - Online retailer THG, also known as The Hut Group, reported a 34% rise in third-quarter revenue, while affirming its revenue guidance for the full year.

Revenue for the three months through September increased to £507.8 million, up from £378.1 million year-on-year, brining nine-month growth to 39%, or 42% on a constant currency basis.

THG reaffirmed annual guidance of revenue growth of between 38% and 41% on a constant currency basis.

The company raised 2022 revenue expectations for its Ingenuity Commerce unit by 20-25% to a range of £108.0 million-to-£112.0 million.

It also announced that it had commenced a process to appoint an independent non-executive chairman in preparation for a premium listing in London.

'We have delivered a strong trading performance in third-quarter and enter our peak trading period with confidence,' chief executive Matthew Moulding said.

THG also announced that it had appointed investor Softbank's managing director Andreas Hansson to its board.


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