The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Every quarter we get a "can't be below projections this time" and every quarter it disappoints.
Every results day has murky calculations such as "constant currency" or "adjusted" on every line. Wonder what it'll be this time?
Last year's full results had a completely surprise and no warning write down of value of Cult Beauty thrown in for good measure.
Every disappointment has also be preceeded by a massive sell off in advance of the results, with loads of people on this board saying "its the market makers".
Well, we've 2 weeks to results. Let's see if history repeats *or* hopefully MM comes through. Forgive me if I'm a total cynic but been here about a dozen times before now.
You can't spin off nutrition and beauty in any meaningful way as Ingenuity loses too much money to keep going by itself.
@OSG
Thanks for the summaries and I agree there is zero in the RNS today that changes the revenue position for 2023 now...
But, every time we have a set of cr*p results, they're preceeded by the "in the know" getting out first. So forgive me if I don't trust our CEO one jot. However, I hope for rhe best, just like you.
I think we should all spare a thought for the employees in Investor Relations here....can you imagine ever trying to get your next job having that you've worked in or led IA at THG?! π€£π€£
Been watching this today Post RNS. Whilst it was a ridiculous RNS, there must be more to the drop. Remember before the Q3 update (or was it H1?) the sp steadily declined whilst those in the know got out before it cliff edged following the release and call.
Glad I halved my holding at a out 86p but sorry for those who have lost money today. You have my sympathy.
I fear Q4 results will be below expectations but will continue to hope for the best.
I don't understand why, when considering: the last 2 years, multiple losses for big investors, promises that haven't been delivered and consistent disregard for PIs (sorry, "fast money") anyone thinks that anything different will come along...
"Remaining positive unlike some on this board."
We're all allowed our opinion. I'm positive about THG and the share. I'm simply pointing out ove never met Matt, spoken to him or am likely to ever do so. Do I trust him based on his past record? Na. It's business.
In a number of scenarios mentioned, his gain will be a loss to PIs. Given he's never met me or is likely to, do I think he gives two hoots? No.
There are very few options cited which would end up being a win win for both Matt and PIs.
@Traintracks
Thanks. I don't mean to be negative about the share. I've plenty still invest here but was happy to get half my value out this week after making 25%.
I don't think THG will go bust. It has an incredibly bright future. The potential is significant. But let's not pretend all our interests (inc Board, Matts and Kelso) are aligned. They most certainly are not.
@PMH
Interesting perspective. Don't agree 100% but what I do agree with it your perspective on people who say "he won't screw us over"... π
To these people: you don't know him. He's not your mate. He'll look after himself, family, foundation. This is business. You bought in to make a buck. Hes in the business of making a buck. The evidence shows he has no regard for trying to increase sp or delivering value to thise who invested...look how many have lost money investing here. THG has had an opportunity every single working day for 2 years to come out and say how it will deliver for PIs and how it's focused on sp value. Not a word. π
No one in business is here "to look after you". Please don't put all your eggs in this on that basis. History of investing is littered with people who lost their shirts like this.
@Yorek seconded on the good lord if he is sick and I wish him well in his recovery if so.
If governance works properly another NED will be stepping in if he's absent. I just hope out of all of them it is Sue Farr.
@gotreal I agree with most you've said but I don't think fcf in Ingenuity is in thr pipeline. On the last call Matt specifically said it would be 2027 or 2028 before ingenuity had that sort of positive financial picture.
@Starfighter 100% correct.
Look back at this Board over 2 years and every set of results is preceeded by "it must be better", "THG can't mess it up", "strategic update will come with results". Every single time its then been a car crash.
Heard it all before. I hope I'm proven wrong, I really do. But I can't help of going back to the quote about the definition of stupidity...