Is this not super positive?27 Sep 2023 12:43
Thank you for the link, just read it.
I liked the following.
When the the group published half-year results on 14 September, despite positives such as a revenue boost for the Nutrition division up 2.6% to £340.7m, revenues had dipped by 14.9% at Ingenuity to £320m.
Behind the numbers, it’s all part of a “very clear strategy and direction” at THG Ingenuity that’s slowly coming to fruition by pivoting away from lower-value clients to larger, higher-value enterprise clients.
Speaking to Prolific North, Ganotra explained the “natural revenue lag” is expected as the division has shifted its strategy and continues to win new business.
“It’s an adjustment as we shift our focus to the right type of customer base. As we win new business, there is a natural revenue lag between us winning business to starting to recognise revenue because we go through an implementation phase with those customers.”
With new and expanded partnerships with the likes of L’Oreal Group, Matalan and Asda, it’s shaping up to be an even busier time at THG Ingenuity.
“We can see that trajectory already playing out with the customers we’ve won in H1 and early H2. For me, it’s about patiently executing our strategy quarter to quarter. We are seeing that our value proposition is resonating in the market.
“This will start to bear fruit as we go into 2024.”