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Comprehensive write-up/overview on various crops, fruits and vegetables, also mentions a visit to CASI, this looks like a sizable operation involved with PHC:
Visit to CASI
The Mexican delegation wanted to learn from Plant Health Care about the CASI cooperative , the largest tomato cooperative in Europe that sells more than 250 million kilos. We are welcomed by Antonio Bretones, president of CASI, and Juan Francisco Cruz, director of operations at CASI.
https://agroautentico.com/2024/04/plant-health-care-vuelve-a-unir-mexico-con-espana-a-traves-de-la-agricultura/?
The original post which started the Homebase rumour was based on Storeleads reporting Homebase had moved to 'Custom Cart' as you can see everyone including Amazon is now on 'Custom Cart'
https://www.aftership.com/store-list/top-100-ecommerces-stores
THG never lost Homebase although there have been some pretty extensive changes on how data is collected (see earlier posts) which have produced inaccurate findings for data collection companies. Its also possible THG have removed or limited access their end too, for the moment no one is sure.
If one major trading partner drops it puts pressure on the rest to follow suit in order to maintain inward investment, I cannot see the UK being far behind, many are predicting UK to move first , we are a lot closer either way that's the main thing.
Jamie Dimon had it covered - came out with a statement saying JP Morgan are planning for rates to go up and down ...
We could see a decoupling of US EU markets, its happened before but can't remember the individual circumstances.
Should make EU/UK markets even more attractive to takeovers if US is odd man out on rates..
54%of THG business is UK based
> European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
https://www.cnbc.com/2024/04/11/european-central-bank-holds-interest-rates-hints-at-cut-ahead.html
Its likely the board were faced with a time limit on releasing y/e results which couldn't be delayed until end of month, unlike a TU which may contain additional forward looking detail.
I would venture to suggest something additional will be disclosed either before then, or as part of TU.
Results were released on the 18th Apr 2023 last year, so these are a week early.
It could be the early release allows access to the numbers (if there is third party interest), can't see why management wouldn't wait and include a TU?
Another poster (dpw?) earlier commented on the lack of notice ahead of today's release, unusual so what to make of it ?
My musings as follows;
either a) there's something going on corporate wise and just needed to get these out, without any fuss or too many probing questions which they may not be able to answer.
or b) they have wholesale given up on the LSE and just don't care anymore.
a) seems the most likely given Peels lengthy note together with other media interactions suggesting a degree of conformality, delayed Q1 updater may also point to this.
Plenty going on, keeps everyone on their toes..
This quote made me laff, those pesky 'nasties' ..
'Earnings before nasties outperformed January's forecast of £117million, rising by 48 per cent year-on-year to a record £120million, the group said.
https://www.thisismoney.co.uk/money/markets/article-13291649/THG-losses-narrow-group-ups-use-AI-automation.html?
Agreed, US inflation is proving 'sticky' although many inflationary trends are down, all the signs of a top.
China US relations appear to be on the mend, sort of if a little fractious.
I still think M & A is the most likely outcome here, so await with patience ..
ETX another company throwing in the proverbial towel with London market. Richard Griffiths who is holder in PHC looks to be supportive of the move.
From the consultation last year, it appears UK institutions would rather keep a London listing but at the same time show little market interest, market trades are tiny.
https://www.londonstockexchange.com/news-article/ETX/proposed-fundraise-of-ps28-9m-and-cancellation/16415632
Another company proposing to delist, ETX
https://www.londonstockexchange.com/news-article/ETX/proposed-fundraise-of-ps28-9m-and-cancellation/16415632
Its not one a week anymore, more like one a day !
It may prod FCA to get their finger out on listing reforms.
Most companies are putting out similar releases, TET today similar tone.
Results in line, exceptionals will start to drop away in earnest this year, FX headwinds require a bit more localised investment, £20m from Japanese Yen alone once completed.
There goes my ISA allowance lol
https://www.lse.co.uk/ShareChart.html?sharechart=SFOR&share=S4-Cap
'The Company announced on 12 January 2024 that following continued strong trading in Q4 2023, sales and profit before tax for 2023 had exceeded previous expectations.
The Company is pleased to report that the strong trading has continued in Q1 2024.
Sales in Q1 2024 are a record first quarter for the Group, with sales to 31 March 2024 of approximately £23.5 million, 28% ahead of the same period in 2023 (Q1 2023: £18.4 million), with margins continuing to be robust and ahead of those achieved in 2023. Accordingly, given this strong start to the year, the outlook for FY 2024 is now expected to be ahead of the market's current expectations'