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Might we see High Protein Southern Comfort flavoured lollipos soon,I could certinaly do with a SC after today
Myprotein is also set to partner with global confectionary brand Chupa Chups and global spirits brand Southern Comfort to broaden flavour options across the product portfolio.
14 September 2023
THG PLC
Interim results for the half-year ended 30 June 2023
Adjusted EBITDA and cash generation ahead of guidance in H1 2023
Full year adjusted EBITDA guidance reiterated
· Continuing[1] adjusted EBITDA of £50.1m (+22.9%), above the top end of guidance (£47m to £50m), at a margin of 5.3% (H1 2022: 4.0%). Adjusted EBITDA guidance unchanged for FY 2023.
· Adjusted EBITDA of £47.1m (+45.7%), inclusive of recently disposed loss-making OnDemand business.
· Successful exit of loss-making discontinued categories and non-core assets generated a one-off non-cash charge of £26.2m[2], increasing the operating loss to £99.5m (H1 2022: £89.2m). Without this charge, operating loss improved by £15.9m YoY.
· Strong LTM[3] cash performance, ahead of guidance. LTM cash outflow[4] of £20.6m is after £163.1m of capex, mainly in THG Ingenuity. This represents a £350m cash performance improvement on the LTM year on year.
· Strong balance sheet with £563m of cash and available facilities.
· Record H1 THG Nutrition revenue of £340.7m (+2.6%), with adjusted EBITDA of £47.1m (+71.9%).
· THG Beauty adjusted EBITDA of £10.6m (H1 2022: £17.7m), impacted by one-off industry de-stocking in manufacturing. Excluding manufacturing THG Beauty adjusted EBITDA was £9.7m (H1 2022: £7.3m). Encouragingly, since the start of August, the Beauty division has returned to growth.
· THG Ingenuity listed in the Gartner's Magic Quadrant™ for Digital Commerce. Continued focus on the Enterprise strategy with new client wins secured (including L'Oréal US prestige brands) and a strengthening pipeline.
· Continued prioritisation on gross margin and adjusted EBITDA margin growth.
· Q3 revenue exit momentum gives us confidence in full year continuing revenue growth of 0% to -5% (H1 2023: -6.1%).
Matthew Moulding, CEO of THG, commented:
"Inflationary pressures provided significant challenges to consumers and businesses alike over the past 18 months. Our strategy of supporting our consumers through 2022, sacrificing margins in the short-term, is bearing fruit. This is reflected in the strong H1 results we've posted today, across adjusted EBITDA and cash.
"The cash performance of the Group has been strong in H1, but also over the last 12 months. Group cash flow performance improved by £350m compared to the previous 12 months, reflecting the completion of our global infrastructure roll-out program, with the Group now achieving significant operating leverage from a well invested, automated, global platform.
"Our Nutrition division delivered a record H1 revenue performance and, with inflationary pressures easing, posted substantially higher EBITDA margins year-on-year as we exited H1. The early results from the Myprotein rebrand are also encouraging as we've taken steps to further enhance the premium nature of
Daily Mail spreading the News re iceland
https://www.dailymail.co.uk/news/article-12513765/Iceland-Amazon-products-UK.html
News Item
https://www.publicnow.com/view/478B3A46179B1307F844E9385FC6D9063DC19F3B
Amazon Fresh Stores open in London
https://www.aboutamazon.co.uk/news/retail/amazon-fresh-store-liverpoolstreet-iceland-partnership
Entering the Frozen Food sector,just imagine......
https://www.businesswire.com/news/home/20230912855756/en/Kraft-Heinz-Aims-to-Revolutionize-the-Microwave-with-360CRISP%E2%84%A2-Its-First-Ever-Innovation-Platform-that-Delivers-a-Pan-Like-Crisp-in-Seconds
Interesting post here
https://www.linkedin.com/posts/adam-knappy-1800b358_mixedreality-metaverse-metaverse-activity-7035684917996875776-yp3J?utm_source=share&utm_medium=member_android
Fourth Quarter - Retail
In this fourth quarter we expect Primark sales to be around 15% higher than in the same period in the previous financial year, with like-for-like sales growth in the quarter of around 8%.
In the UK sales for the fourth quarter are expected to be up 8% with like-for-like sales expected to be up 7%. In this quarter, we saw unusually variable and unseasonable weather especially in July, then in the first half of August, and again in more recent weeks, all of which impacted transactions and footfall. Despite these conditions, our performance was resilient. Our share of the UK market increased to 6.4% from 6.2%1 for the 12 weeks to 20 August.
In Europe excluding the UK, sales for the fourth quarter are expected to be 18% higher with like-for-like sales expected to be up 9%. Similar to the UK, the business traded well despite challenging weather with especially hot conditions in several regions across Europe.
In the US sales are expected to be 45% higher in the fourth quarter driven by the strong programme of new store openings. We opened four new stores in the quarter.
Https://beauty.pambianconews.com/2023/09/thg-vende-la-divisione-ondemand-in-perdita/558
Thg sells on demand
Zavvi group moves into the unit thg sol
https://www.placenorthwest.co.uk/retailer-relocates-to-100000-sq-ft-in-cheshire-after-thg-sale/