Member Info for Hosai

When you consider that inflation is calculated based on the percentage increase or decrease of the price from the prior year and that energy prices have been the biggest driver of inflation.
The crude oil price had climbed to $85 dollars a barrel in Mid Jan 2021. From March - July 2021 its average was around $105 dollars. It has now fallen to $76.8 dollars (below where it was last year).
If a price is the same as it was last year then it is reported as 0% inflation for that item. When we get to Jan if oil price is similar to where we are now then it would be large inflationary drag on everything or deflation when it comes to oil. Other prices would have to be up significantly to prop up overall inflation and make up for the oil percentage drop. Even more so once we get to March.
https://tradingeconomics.com/commodity/crude-oil

I shouldn't have said throughout but it was mentioned in the second rns and hasn't been mentioned in the recent rns' as an issue the auditors had a problem with. I'd imagine they would mention it if it was an issue as cash and debt tend to viewed as the most major aspects.

Sham the first rns didn't say that in regards to profit/revenue (just said the auditors hadn't made them aware of anything material as of yet). The only thing that has been said throughout is that the auditors concerns didn't effect the cash or debt figures.

Goldenyears can you not to some extent excuse them on the profit warning in the macro context of things? As I've already said Ocado are aiming to break even at Ebitda level from the same revenue level as THG and are predicting their revenue to fall. They're also aiming to be cash flow positive in 4-6 years, THG are projecting a smaller window of time for this.

As far as I can tell it's still the case that the cash/debt position is not being challenged by auditors...I'm guessing the "validity of certain commercial arrangements" may refer to some kind of related party transactions?

"Very proud to not only have an award-winning CIO at THG, but the number 1 CIO in the UK.
Congratulations Jo! #weareTHG #CIO100"

https://www.instagram.com/p/Ci2sf1qM9K4/?hl=en

https://www.linkedin.com/posts/paul-hill-a5994116_revb-revb-revb-activity-6978972130092720128-kdwj/?utm_source=share&utm_medium=member_desktop

I'd say it's good that he's still very proud of the company...perhaps he just sees the share price as separate from the company hence his relative silence on the great decline. Maybe the lack of his buying is the fact that he already holds such a large position here.

I agree Hereshopin...I would have liked one of the analysts to have pressed MM more on why some of the bids had an rns and some didn't. Even the rns we did get seemed to refer to as being the second or third bid I seem to remember. Was it as simple as that was the one the takeover panel said they had to notify us on?

The times said this at the time:
"The flurry of announcements was prompted by the Takeover Panel, which had asked the various companies to clarify their positions after financial blog Betaville published rumours of deal activity."

It seemed betaville was talking about activity all the time however. I guess potentially thg could have intentionally leaked the rumour to betaville, we'll never know which way the direction of travel was.

In general it would be good if the analysts could push the board more in their questions, they are too polite on the calls. Then the more scathing criticisms appear in the press which would be the more interesting points to get a THG response to.

Recession is now and heavily priced in. Statistically markets do worst in the 6-12 months before recession and best just after one.

Prices are down the lowest since January - https://tradingeconomics.com/commodity/crude-oil

Steve at-least they are still predicting £100 - 130 million EBIDTA this year which is higher than Ocado who from similar revenue are hoping to break even at EBITDA level and also predicting a fall in revenue.

If there was any kind of fraud you have to wonder why? Just seems unnecessary when clearly they have a lot of genuine customers who like and buy from the business. I would imagine it may be a case of them being too aggressive in their accounting and slightly poor controls rather than out and out NMC type fraud.
Surely they would also have been aware that the auditors would eventually find whatever problems there were?

Surely at some point growth stocks get a reprieve and other aspects of economy fall back such as house prices? Growth stocks have fallen 60-95% in a year meanwhile house prices are up 10% in a year.

Licker he is wealthy but a lot of his wealth is/was in his THG shares.
Times rich list article does say this though:
"Moulding sold shares worth £54 million at the float and shortly before took control of 18 offices, warehouses and other properties owned by THG — an estate that obliges the company to hand Moulding £19 million of rent a year. The value of the portfolio has been put at nearly £300 million. Despite this dire year, the Mouldings should still be worth £700 million."

https://www.thetimes.co.uk/article/matt-jodie-moulding-net-worth-sunday-times-rich-list-7z90px26j

Sure 55555...to get annoyed by a press that keeps making cheap shots and bashing your company clearly you would have to be wirecard.

Check out the whole twitter thread.

https://twitter.com/BondHack/status/1572240675357196288

Has a FT journalist then a economist writer than sunday times jouro all with snide comments or laughing emojis. They all seem obsessed.

Nice 21x gain there...I can hold my THG shares and retire a rich millionaire in 5 years if that played out.

MSG were holiday snaps that luxurious? I mean not cheap but I don't those posts were flaunting some unattainable holiday.
It's normal for CEOs to go on holiday, I imagine the CEOs of Boohoo, ASOS, Just Eat, Deliveroo, Ocado, Rev Beauty and Darktrace that are all down 65 - 95% in a year went on holiday too.

John Lewis reported a £99 million half year loss, with 3% sales growth (helped by favourable comps with people going back to shops again). FT has mostly ignored them though, it's all about their dislike of Moulding.