Member Info for Monty888

Run out of money yet again. Looks like THG with it unproven never made any net profits copy and paste.

Good improvement the ever important EPS and nearly all other metrics, debt reduced but still on the high side. Definitely going in right direction and we should see an uplift in the SP moving forward.

No cash left, expect a rights issue soon.

No one missed anything 22% spread. You gotta make 44% to break even. MM’s milking naive investors again.

Keeping mine for guaranteed 9% dividend yield, results are not that bad.

Bad results, negative eps, significant increase in borrowings - Wrapped up in nice positive words as usual - The words and window dressing is Lipstick on a pig - I would think we will get another small sell today but not too bad as it’s already been bashed past few months.

Results need to show improved eps and a net profit after tax for the needle to move. EBITDA = BS for earnings as Buffet and Monger rightly stated. Lets see the bottom half of the results where the mud is.

Looking like we should get an SP uplift and more broker re-ratings sooner or later, this so under radar right now, it’s like a sleeping giant.

Warren Buffet said every time you see “EBITDA” transfer the the word to “BS Earnings” The I in EBITDA is of course the interest paid on borrowings and where that high companies are actually just working for the banks and greedy Directors. Net profit and cash growth are the investable safe shares of you can find them. To be fair VOD team are looking to kill debt and reduce the liquidity with cancellations after many years of just running up debt and paying dividends out of more debt - Never was sustainable of course.

The buybacks and low margin exits should help the eps in our next set of results which is the key indicator above others that drives the SP especially US it’s the first thing they look at and report. Whilst the current SP is just too low (IMHO). The positive are we can do the buybacks at a depressed rather than frothy price 👍🤗

Lots of well spun words, all metrics show a decline against weak metrics. Looks rather terminal right now when the headline is a new very expensive debt facility. It’s really lipstick on pig at the end of the day.

Good spot E_AL - It’s a bit odd there was no RNS sharing the completion etc. I think at these lowly SP’s aside the provision for cladding I would think WJG could be a great take out target for a company like Vistry et al. I think Government will set a fast track legislation on the cladding say 2 years to complete but with cash and available borrowings looks to me like WJG should be fine to do without needing any share dilutions - Any thoughts on this any smart numbers people invested here? Thx ahead 👍

Ingenuity has to be stand alone to grow to a size where it can cover its SaaS development and maintenance costs. Once it detached from THG, all THG’s current and potential competitors can use Ingenuity’s services without putting money in their competitors pocket effectively. The only M&A for Ingenuity would have to be another independent maybe we will “Ocado Ingenuity” one day or something similar, this then reduces the costs and could make a compelling profitable dominator in this space.

The big debt pile & nasty cash burn are the current issue that will hurt any valuation as an Ingenuity stand alone.

Happens in April around tax year end as I know. So not triple witching going on I think.

Harsh facts are THG isn’t even close to making a net profit it’s £350m in dept and it won’t get better. Ingenuity is a fire sale at the end of the day. MM is devoid of credibility and has hurt everyone who believed in the story he sells / sold. What a mess is the harsh reality - First it was a revenue growth company ignore my losses and increase in debt it’s just growing pains. Ttt he en head we are driving quality and profit now, finally nothing yielding a net profit we best get selling and cost cutting. There is an intrinsic book value here but what that actually might be in reality is anyones guess.

The bids were all subject to due diligence and MM made sure he didn’t open the books as all the businesses had book values way less that what he paid and potential buyers would have been horrified at that and other things like him owning personally the freeholds to THG’s warehouses etc. The bids were indicative only.

Likewise posters. I think the cladding changes might get set a 2 year completion rule by the government to hurry it along. That would deplete the cash on hand but they could add some borrowings I think and then it’s all closed and done (£45m net cash £85m gross / available cash if memory serves). Land, building and house prices are back on the up and the Fresh thing goes from strength to strength. I think a lot of big cash rich builders will deep dive the next set of results and if they show a lot of assets a business like this would be a great bolt on for them to develop the land, students continual revenue etc and a low ball takeover target. (There are around 20 listed companies that could get after WJG in reality). So at these levels I think a strong buy right now but needing to really deep dive next results publication.

The UK construction sector appears to have turned a corner after a difficult start to 2024, with renewed vigour in the house building segment the most notable development," said Tim Moore, economics director at S&P Global Market Intelligence.

"Improving sales pipelines and a turnaround in demand conditions led to a relatively strong degree of business optimism across the sector.

Yesterday’s news - Won’t be long now before we get some positive news on investment partnerships deal and cash enhancements I’m sure. Not to mention WJG is quite vulnerable to an aggressive take out at this capitalization that looks to be lower than the sum of its parts inc the £45m net cash after cladding provisions.

Can’t see it growing until it makes so retuned profit and gets generating bottom line cash. Harland & Wolf kept announcing big revenue deals before collapsing - This reminds me of them on a smaller scale. Very wary but will watch to see it looks like it could be profitable.

The various cladding rectifications are all provisioned for on the balance sheet and that’s what caused the SP drop plus some land sale delays into probably next year. Recent sad events present a buying opportunity at 30p from a valuation perspective. The cladding used that’s problematic would have been certified to building standards at the time. I would thing the certified and cladding manufactures are being sued but probably already gone into administration.