By Helena Smolak
THG said it completed a spinoff of its logistics business THG Ingenuity as part of a plan to increase shareholder value, as it reported lower revenue in the fourth quarter.
The U.K. e-commerce company--known as The Hut Group--said Thursday that its fourth-quarter revenue fell 7.1% to 565.9 million pounds ($697 million), weighed down by lower sales in its nutrition division.
Its 2024 adjusted earnings before interest, taxes, depreciation and amortization--a company preferred metric that strips out exceptional and other one-off items--is expected to be in line with expectations of 127.8 million pounds, according to a company-compiled consensus.
Separately, the company transferred the listing category of all its ordinary shares to the equity shares commercial companies category of the London Stock Exchange's official list. THG said this would enable ordinary shares to be considered for inclusion in the FTSE U.K. index series.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
January 23, 2025 02:48 ET (07:48 GMT)
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