Shares in Matthew Moulding's beauty, wellbeing and software giant THG hit a new record low after falling by 20%.
The value of shares in the Greater Manchester-headquartered group slumped during the day's trading on Monday, January 24, and reached the new low point before ending at 18.7% down.
Shares in THG are now worth 121p having started the day at 148p.
READ MORE: THG - All you need to know about Matthew Moulding's beauty, wellbeing and software giant
The group endured a torrid 2021 with its share price being slashed over the last 12 months. In January last year, THG's shares were priced at almost 800p each.
The fall for THG came on the same day the vast majority of other North West-headquartered listed businesses also saw their share price cut.
The likes of Supreme plc (down 15.7%), Sosandar (down 7.8%) and Ultimate Products (down 8.3%) were among the worst hit.
Only a small handful of companies finished the day's trading with an increase in their share price. They included Appreciate Group, B&M and Carrs Group.
The slump comes after THG announced its revenue surged past the £2bn mark during 2021, while the group added it expects a further 25% increase in 2022.
THG reported a revenue of £2.178bn for the 12 months to December 31, 2021, up from the £1.613bn it posted in 2020.
Its beauty division's revenue increased from £751.6m to £1.116bn, nutrition went up from £562.3m to £659.5m, THG OnDemand rose from £101.3m to £128.1m while THG Ingenuity jumped from £137.3m to £194.3m.
During the fourth quarter, THG's group revenue rose from £559.8m to £711.7m, while increases were also reported for all divisions.
The group added its adjusted EBITDA margin for 2021 is set to be between 7.4% and 7.7%, compared to market expectations of c.7.9%, because of "adverse foreign currency movements".
Speaking last week, Mr Moulding said: "We are delighted to report significant growth across all divisions during the peak Q4 trading period and to have delivered record annual sales of £2.2bn.
"The operational resilience and performance of our Ingenuity infrastructure was a highlight, dispatching over one million units per day at peak periods.
"The investment we have made in automation in the UK delivered year-on-year efficiencies, and we are on track to launch our first AutoStore facility in the US during Q2 2022, supplementing the six warehouses added to the network across three continents during 2021.
"2021 marked our first full year as a public company and I would like to express my gratitude to all THG colleagues for their dedication and hard work in helping us achieve such a strong performance for the year.
"Despite challenging conditions, we have scaled revenue and expanded our business model, particularly THG Ingenuity, well ahead of expectations given at our IPO 16 months ago.
"At the same time, we welcomed c.3,000 new employees across the world to the group, the majority of whom are within the UK, and completed many transformational projects, including the opening of our 1m sq ft UK technology campus, ICON.
"During the year, the group also invested around one billion pounds across infrastructure, technology and M&A to further develop the long-term growth prospects of our key trading divisions.
"We remain committed to our strategy of investing for growth across our global fulfilment network and technology platform.
"The new year has started well, and we remain confident in delivering our strategic growth plans during 2022 and beyond."
