In its interim half-year results, THG said a one-off charge of £26.2m stemming from the disposal of its loss-making OnDemand business deepened operating losses to £99.5m – from losses of £89.2m for the same period in 2022.

However, THG said its adjusted EBITDA was up 45.7% inclusive of the recently disposed of business and increased its adjusted profit guidance for its full year by £100,000 to £50.1m.