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Indeed Hardwell, best to wait for that 45p target you set yourself
If -9% is growth then WOW...doing well 🤣🤣
Ste2k, squids have been in the water so they're damp, right steve? 🤣🤣🤣
"Myprotein continues to be the fastest growing sports nutrition brand across UK retailers with the brand's Q1 retail GMV more than doubling YoY[7]. We extended distribution by over 1,000 stores in Q1 with launches across sports nutrition and vitamins ranges in Asda, Boots and Tesco taking UK retail doors to c. 5,000[8]. "
Not to mention the 900 stores in the US.
£50 Million spent keeping prices low and retaining customers - plus the cost of a much touted Rebrand on previous anlayst calls and the F1 sponsorship of the Williams F1 Team, all meant to be the answer to MP's future growth, and now this in his Linkedin post
"By contrast, Nutrition sales declined -5.8% in Q1 as we phase out products to major new branding, positioning Myprotein for a big offline push into global grocers & retail."
Its not the advice that changes like the wind.
Imvho its the excuse.
I think he might find some sticky / tricky questions on the Analysts call.
Interested to see if the Nutrition CEO is there to answer for himself.
Steve, talk us through the saying ‘damp squid’ :D
Damp squid....🤣🤣🤣🤣🤣🤣
All etail up more than thg. tells you what you need to know
Read the thousand LinkedIn posts and they just keep coming. He seemed does know how to make himself look stupid.
I'll care a lot less about the content of his linkedin rants as long as he shows evidence that he's beginning to walk the walk and the SP follows suit, could this be it? I think so but we need it to continue. Let's see what the call has to reveal.
Utter damp squid. all but confirmed no capital event. so its a very very slow slightly growth company now, with all growth being non-online
Yorek, with your name I just put two and two together;)
Yup it's been a painful few years :(
Article titles seem to focusing on revenue growth and beauty surge so far, see if they turn more negative as morning goes on
"I’ve learned to suck it up and listen to most advice….and then to rarely act on it! Listening, processing and then discarding 95% of advice, is super valuable."
Unfortunately some of the 95% that he has disregarded actually know what they are talking about and especially in terms of delivering shareholder value.
Makes for an interesting AGM.
😆 typo, sorry
Been here since the vikings…or feels that way anyway 😉
Yorek ....long hall ? Isn't that a viking thing ? :)
Couldn’t agree more HelloDolly.
Bye bye and good luck to everyone who is disappointed and will now exit….until the next time.
I’m in for the long hall and therefore, will be waiting for whatever happens next…
Looking forward to the call. Hopefully at least one analysts will ask about partnerships this time.
It’s such a ridiculous post from a CEO. I’ve said it once and I’ll say it again, it reads like a teenage girl’s diary and not of a professional businessman to be trusted and looked up too.
He REALLY needs to start taking more advise on board on professionalism and how to improve the share price. Kelso have given him a hint or two.
Matt Moulding is right though. If you don't like his manner, his strategy, his persona or his business, don't invest / stay invested. I don't like capers, so make a point of not buying them. GLA
what an arrogant *****.
Well, let's see. Numbers speak the truth no amount of creative prese can hide.
These numbers are stable. No banger and no clanger. But, I do agree, let the business people get on with the business. I'm willing to hold for another 2 years at least and hope the ship has indeed turned by then. Atb
“One thing I’m not short on is receiving advice.
Every day people tell me how THG should do things differently. From advisors, commentators, investors, friends, family, or even strangers when out for a family dinner – each have plenty to say. Naturally, it's ramped up further since listing.
I’ve learned to suck it up and listen to most advice….and then to rarely act on it! Listening, processing and then discarding 95% of advice, is super valuable.
Why?
If we acted on all the advice, it would be as effective as drinking water from a fire hose. Most people sharing their views are unaware countless others are advising the complete opposite.
What’s worse, people often change their advice just a few weeks after giving it – “I’ve had time to reflect and now I think…”. OK, that’s great, lucky for us we reflected first before acting on the last advice!! Imagine if we ran THG that way, shifting strategy with the wind, from one month to the next.
Most advice is naturally biased, driven by personal needs or agenda, even if not intentionally. It’s human nature – persuade others to do things that benefit you. Lots of people want lots of things, and so there’s a lot of persuasion, especially when on the LSE.
But in amongst all the noise, there’s always the 5% valuable, golden pieces of advice that are worth all the noise. This is like finding pearls after cracking open a million oysters. We all need to be drawn to these people and avoid the flip-flopping/self-interest ones like the plague.
Today, we posted our Q1 trade update. THG has had a strong start to 2024, delivering +4.5% Revenue growth, our 5th consecutive quarter of improvement.
This time last year the team and I were doing investor calls after our Q1 23 update. We were busy overhauling both the Beauty & Ingenuity business models, improving them, making them stronger for the years ahead. This was negatively impacting Beauty & Ingenuity revenues in early 2023 – an inevitable but small sacrifice to make.
On the Investor/City calls, we constantly faced the same question: “why don’t you sell or close Beauty and Ingenuity, and just keep Nutrition? The Group would be valued at least double if you did”.
The answer was always the same: “Errmm, because that would be stupid!” 😯
Fast forward to Q1 24, Beauty delivered a whopping +11.1% revenue growth, and Ingenuity +5.9%. Both businesses are clearly in rude health.
By contrast, Nutrition sales declined -5.8% in Q1 as we phase out products to major new branding, positioning Myprotein for a big offline push into global grocers & retail.
So it’s a good job we stood our ground and didn’t act on knee jerk advice. Given Nutrition sales dipped in Q1 24, maybe this time we'll be asked to close or sell Myprotein, the world's biggest Nutrition brand??? 😂
A good piece of advice that's always stuck with me is that “nobody can walk in your shoes”. Sure, listen to all the advice, but it’s do