Member Info for joedeev

Wrong chart my friend, this one is more accurate to what MyProtein would be buying https://www.clal.it/en/index.php?section=whey no real change in the last 5 months.

MyProtein needs to win online again to sustain margins. The growth can't all come from retail and distribution where you lose 30% or 40% margin immediately. I was surprised we didn't see a profit warning considering the whey prices didn't drop (in fact went up considerably) and MM forecasted they would come down.

Haha indeed. This share hasn't seen 34p since... the end of March!

Have they not just annualised very soft results? Total H1 2024 was -7.5% vs 2023.

Are we actually in growth vs. 2023 or 2022 revenue wise?

I thought King St was under ingenuity? Or maybe under MM property arm. There is also the other hotel which has been closed for 3 or 4 years now!

Well you can get 9 Myprotein Iceland meals for £30 and THG will only take a small % of that as a brand license, probably 4-6%? Even if it's as high as 10%, they're only getting £3 from that lady's purchase. If she'd spent £30 on their website they probably would be making £10-15? As long as it's additional revenue and not cannibalising then it's probably fine.

Fully agree Stanley. They have rebuked articles like this in the past and have to do so again. Although it's been 2 days now since the original FT article. Surely we will see an RNS soon?

Slight reversal seems to be inline with the ftse250, like last week. I would be surprised if Frasers weren't buying at these SPs though, they have to average down like the rest of us.

They won't even accept 60p, they probably still think £1.70 is undervalued. I do think Q1 results will be relatively strong and Frasers know that, but let's see.

It's following the same trend as the FTSE250, probably nothing to do with the RNS.

Wow sub-30p - I genuinely never thought I'd see that.

APN and Glanbia as whole entities don't really trade in the same realms as THG Nutrition. APN is, as you say, tiny in comparison, and their sales are largely UK and a bit of Middle East/US retail AFAIK. Glanbia owns a large part of the supply chain and only their nutrition range is similar, but they trade at much higher prices and much higher margins. THG Nutrition trades at much lower prices and also has a large Asia market which I doubt is profitable at all (although could be in the future with local facilities).

Yeah when he's posting about forgoing a £3m salary he conveniently forgets to mention the rent on those properties in the region of £20m+ a year(?)...

One of the few things this company seems good at is refinancing debt IMO. Also agree that the timing is potentially interesting with the Q1 results (hopefully) coming soon. I had heard on the grapevine that there was a particularly nasty COVID loan repayment due so maybe that’s now disappeared which can only be good news?

FTSE250 inclusion doesn’t automatically guarantee SP growth, the fundamentals of the business is still the most important thing. Deliveroo is the latest example of this, it’s down 20-25% since FTSE250 news isn’t it? And shouldn’t we be getting a Q1 update mid-late April, or only interims in September? Q1 is quite interesting to me as it seems to be when Nutrition annualises its decline in revenue, last year Q1 was -9% so results would show any compounding decline.

Look at Glanbia's comments in their latest trading update. They control a lot of the market so know a lot more. It's not going to drop until 2026.

Is anyone buying on the way up then? Or just hoping it'll get back to their average?

Anyone else immediately check if he'd posted something on LinkedIn when they saw the dip?

"Barrage of abuse and ridicule" is taking it a bit far, most people were just questioning their reasoning and rationale.

Pearls, you've only looked at the CURRENT FTSE250 and not included all of the companies that can also now be included (like THG).