𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

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Revenue at THG, the owner of Myprotein, rose by 0.9% year on year to £408.8 million in the three months to September 30, according to the group’s latest trading update.

The group has hailed profits “exceeding expectations” amid a fall in whey prices.

Much of the growth came from THG Nutrition, the nutrition branch of the group, where revenue increased by 3.7% year on year to £152.4 million.

The company said it had benefited from the continued decline in whey protein prices through September and early October.

Whey protein was originally a by-product in cheesemaking.

It is popular for use in food in order to help build or maintain muscle mass.

Growing demand and limited supply had led to an acceleration in costs in recent years.

The stronger-than-expected growth prompted THG to adjust its full-year earnings before interest, tax, depreciation and amortisation (ebitda) to £103 million for the period.

The group said it had secured long-term contracts for key raw materials including creatine, amino acids, milk proteins, collagen and vegan proteins at “historically” low pricing in the last few months.

It said the contracts will help mitigate inflationary risk through the end of the year and into 2027.

THG chief executive Matthew Moulding said: “Following a particularly strong first half of 2026, I’m pleased to report that our momentum has continued through Q3, with profitability exceeding our expectations.

“This has enabled us to upgrade our full-year adjusted ebitda expectation to £103 million, ahead of market consensus.”

He added the three months to September 30 had seen “significant” strategical progress with Myprotein’s several new partnerships, extending the brand’s reach both in the UK and globally.

Those partnerships saw Myprotein continue to extend its portfolio both in the UK and internationally during the quarter, including through deals with doughnut company and coffeehouse chain Krispy Kreme, Caffè Nero and Iceland.

The third quarter of this year also saw the launch of Myprotein Rewards in the UK.

The scheme enables customers to earn points on purchases and is aimed at increasing repeat purchasing and strengthening customer engagement.

The group, which also owns the Cult Beauty and LookFantastic brands, said revenue growth is expected to accelerate in the final quarter of this year.

It said this will be supported by the timing of dispatches across its THG Beauty branch for advent and manufacturing.

THG Beauty saw a 0.7% fall in its year-on-year revenue to £256.4 million for the quarter.

However, the group said advent products have helped to contribute to revenue and products growth.

Its LookFantastic Fragrance advent calendar sold out in one day.

The firm further said THG Beauty’s loyalty programmes exceeded 3.9 million members, supporting deeper customer engagement and repeat purchasing.

Mr Moulding said: “Q4 is traditionally our busiest and most cash-generative quarter, and we enter this important trading period with confidence.

“With strong operational momentum, improving profitability and continued strategic progress across both divisions, we expect to deliver an acceleration in group revenue in Q4.”

THG shares jumped by 16.3% to 32p on Thursday afternoon, to their highest level for a month.