Half Year 2023 THG PLC Earnings Call Transcript
Hello, and welcome to the THG's 2023 Interim Results Presentation. We will start with the presentation followed by a Q&A session. (Operator Instructions). But first, let's begin the presentation.
(presentation)
Good morning, and thank you for joining us today as we announce the group's half year results for 2023. In April, we talked in depth about our strategy in supporting consumers through the cost-of-living crisis, absorbing much of the inflationary pressures during 2022 and limiting price increases across our Beauty and Nutrition divisions. The short-term margin impact from this strategy was mitigated through the delivery of GBP 100 million of cost savings in 2022, with further savings identified and delivered in H1 this year.
We are pleased to report that this strategy is bearing fruit throughout 2023 to date. Inflationary pressures have been consistently easing during 2023 and are set to ease further still. This has led to steady margin growth through 2023, while our Beauty and
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