Member Info for 2phevs

Anybody fancy a pull your sleeves up job of CEO at thg
Pretty sure a few on this board would jump at the chance
seems mm is insinuating he's had enough in the latest betaville report

Really starting to get investigatively personally involved here which means no emails it means turning up on the door which is not far from me
I'll keep you all informed

Looking forward to receiving proposed resolutions for next agm

Number 1
matt moulding removing rent liabilities for thg not utilising matt moulding owned units not in use
Number 2
Matt Moulding repaying thg rent/business rates and energy for space not utilised due to his and other senior managements lack of Foresight
Number 3
Repayment of all costs by mm property companies to thg for huge fit out out costs of un utilised empty units approved by mm

Would invite others to add potential resolutions

Understood ohhahh I've been really behind the charitable side of MM however to potentially blow money on doing up hotels with thg cashflow and then charging thg rent for the pleasure would really get my tenacious blood boiling to take action ready for the next agm

You know what pmh I'm going to push for answers and shareholder support on the costs regarding the disgusting vanity projects at the next agm resolutions will be raised

Look you algo 555

The rent goes to charity

Just to add Oke that could separate ingenuity properly and I'm sure on a jv wpp would allow ingenuity to carry on looking after nutrition and beauty

Like what I suggested in March I think Oke that maybe wpp would be interested in thg a poster dissed it immediately because they have to much debt and a few months later the CEO of wpp stated publicly that they would like to launch something like ingenuity I said at the time with others there's no way wpp can match ingenuitys model by outsourcing
Personally I think WPP would be a fantastic partner for ingenuity jv with all their global clients and retail knowledge on a 50/50 cost and profit basis and a few FOC wpp shares for thg shareholders as a sweetner
But what do I know

I forgot to add that ipo was at a time when ecommerce companies were raking it in from covid related bricks and motor retailer issues so it was probably overpriced again though at least £1.6 bill has gone into the company and spent on reducing initially
debt good acquisitions (maybe a bit pricey but that's offset by receiving overpriced cash) and serious fitting out costs

I agree Oke mm may have looked at the old buildings in gadbrook Park in Northwich (near Manchester Airport) back in 2017 while kkr were pushing him to deliver on growth and thought lets open a huge brand new campus at the airport
He got the nod on 11.6 acres and went for it
it started to occur to him in 2020 after spades in the ground and mounting consulting fees that to complete the vision needed serious funding so went for ipo got all debts paid off and shareholders were over the moon especially kkr 100 mill in 448 out in six years
Approached autostore for automation costs blew his mind softbank appear to help make the decision for automation but he must make some more ecommerce acquisitions with some of the money
Everything goes to pot in the markets and now THG must consolidate luckily the money was mostly spent on automation and beauty well done for that
They just need to to take 2 steps back to go forward
Personally Lord Allen was probably in awe of the THG campus its amazing when you look at the amazon old shed next door and couldn't wait to invest at less than half the bid
All imo of course

Average price for sweet whey € per tonne was around
1000 in 2007
900 2012
1000 2017
700 2018
800 2019
1000 2020
1200 2021
1500 1st 6 months of 2022
1200 July to Sept 2022

I think it's a bit much to consider it going to around 600 ever tbh Oke

Personally I think getting higher margins on the nutrition side is going to be via clever selling in supermarkets and then getting extra d2c from it

Defo seeing more young professional adults supplementing their diets with non meat protein used to see them buying huge packs of chicken breasts and multiple boxes of eggs that's changed in the past 18 months to trays of yoghurts boxes of protein bars and cans of pulses you can see them looking at the protein levels on the packaging
Personally I think it's a new step change in food coming can't see the fake meat ever taking off but can see the various forms of non meat protein finding their whey hehe into everyday food

Imo you'll still have the odd BBQ

Apparently 135p NAV
35% debt (not sure if that includes the £266 mill cash and the £44 mill due to come in)

So extremely near term the top of your estimate Op
Then after 25th October 22 Q3 trading update that estimate could move upwards with the margin improvement on whey

Mid January peak trading update should see a huge cash improvement after smaller inventory leftover leading to upgrades and opportunities for us late 60's averages to top slice

Hopefully I'll be reposting this in January rather than some of the told you so reposters we've seen lately

Hopefully another article on the 25th of October 22 saying
liberum wrong again as THG 3rd qtr margins improve due to large reduction in whey costs

Here's the market saying to liberum your wrong at 700p 23 March 22
https://www.proactiveinvestors.com/companies/news/977638/thg-worth-700p-says-liberum-but-few-others-agree-977638.html?rel=scroll

Wow KYK and to think he probably has authorised intangible asset payments for more than how much his 22% stake is worth in h1 22 must really pull at a chartered accountant brain neuron strings

£130 mill was a decrease in trade payables from this time last year

probably due to the paragraph in the rns about accelerated payments to suppliers to stock warehouses and potentially better prices

Gross TANGIBLE assets went up by £100 mill

Not going to to even bother with the £300 mill of intangible as everybody thinks it is worthless

Possibly why they have these offers draw them in convert say 20% into sales 40k 80% repeat 32k aov £100 every qtr
Extra £12.8 mill rev per year
Those could be Conservative rewards from 200k downloads in a month Oke

Only 1 month 9 days until 3rd quarter update Oke and should show whey price gains and dollar benefits along with the travel related picture perfect purchases hopefully

I'm with you poker on that I've been bleating on about the Fed for the past few months here and now FedEx are jumping on the Fed's Narrative however thg is 80% returning customers in social/image perfect areana which from what I can see is not changing
Jerome Powell has been stating constantly they need supply to catch up with demand in high value goods more labour participation and house demand to drop not once have I heard FMCG in fact one Fed speaker mentioned ecommerce should do very well in this environment
Thanks for the reply any chance of an balance shee appraisal here? Really helped my confidence with petrofac