British e-commerce group THG said on Thursday it expects annual core earnings to fall short of analysts’ expectations on higher commodity prices, sending its shares down 10 percent to a record low.
Adjusted core earnings for the six months ended June for the company, which also has beauty and nutrition units, slumped 60 percent to £32.3 million.
“Supporting our consumers through 2022 has been offset through reducing 2023 capex …,” chief executive officer Matthew Moulding said in a statement.
THG said it expects full-year adjusted core earnings to be between a range of £100 million to £130 million.
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