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Stanleyb, forget that statement that you keep repeating as the dynamics have changed since. That's what they will say.

The "highly profitable" and "capable of paying dividend" monies I think everyone has realised has been replaced since with yet another Profit Warning and those monies it would appear will be spent in part on chasing growth in the US, opening doors, and on maintaining prices at THG Nutrition, in the face of high whey prices and a predicted fall that has failed to materialise.

Strange though that Applied Nutrition makes good margin and profit in the same market. Hopefully that Analyst who previously challenged THG on the need for personnel change at MyProtein takes them to task and goes for the jugular once again.

The biggest fear thereafter has to be what reaction the next update receives, and if it's poor, Will MM? decide at some point to do a further split and take private deal of either Beauty or Nutrition and backed with the customary help it on it's way further bargain fundraise.

Forget that imminent FTSE250 reshuffle and inclusion btw as it's not happening at these levels.

"Any suggestions to why we have been hanging around 30p for a month now. Any guesses?"

I'm happy to throw you 5 for starters.

Another Profit Warning , masked by a divestment

Whey prices not coming down as all were told they had good reason to believe would happen with more supply coming online. Now more demand !!

More shareholder money again being used again to keep MyProtein products price competitive. Last time £50M shareholder funds was spent to maintain custom only for the Rebrand to demolish anything achieved.

A News drought and someone seemingly on a carousel of holidays one after the other.

Missed the FTSE250 and those tracker funds needing to buy 70 million shares.

We know mid September results won't be great, as they have already told everyone. It's just a case of how the market reacts again to that news.

Unfortunately there is no hiding for MM, TGL and Co as their every word gets scrutinised. Last time it was the FT that uncovered the £60M stock write-off. £8M written off exiting the William contract and £15M written off on the hotel and handed to Remainco, all small printed in the accounts.

Jmak1912 you may be correct over the medium term and Allsworth and Minto wishing to resurrect the business, but given 150% of the share capital has had to be further issued at 3p then there is a good chance that it will retreat to 3p or thereabouts. It's normally about the time retail get their shares in their hands to buy and sell.

The business though will need to show some signs of improvement for it to get to your target price.

Looks like they missed the bus and on the indicative changes as there were 6 In and 6 Out as well. Asos looking like it might be biting the bullet.

Remote chance still before the definitive date but it's going to need some heavy buying and good rise in the share price.

https://www.lseg.com/en/media-centre/press-releases/ftse-russell/2025/ftse-uk-index-series-indicative-quarterly-review-changes-september-2025

I think it will be a miss tbf after what was the timing of the profit warning.

Stockchallenge updated on the Friday just prior to the BH weekend and it was showing they were about a hundred places short and with 3 contenders considerably higher. Others I believe have benefited from high markets whilst THG hasn't and chances of news whilst they are on holiday I think is slim.

Needs a considerable Ashley rally.

https://www.stockchallenge.co.uk/ftse.php

I wonder what the FCA will have to say about that one.

It's all gone full circle with Allsworth and Minto back, as if we haven't had any lessons learned imo.

Sadly the Retail Offer won't be for me.

So how come they can produce results ahead of expectations

"FY25 Trading Update

Driven by strong second-half trading (approximately £60m of revenue), Group revenue is expected to be ahead of market expectations2, with revenue up 24% year-on-year to approximately £107 million (FY24: £86 million) and adjusted EBITDA3 up approximately 19% year-on-year (FY24: £26m). Net cash (excluding IFRS 16 liabilities) at the end of period is also expected to be ahead of market expectations2 at approximately £18.5 million.

The results for FY25 were achieved by the continued delivery of the Group's multi-pillar, global growth strategy.

FY26 Outlook4

Following the strong recent trading and supported by the strategic progress, the Group now expects revenue for the financial year ending 31 July 2026 to be ahead of current market expectations2."

What a shocking disparity.

One imo crawling for excuses all the time whilst the other is growing and flourishing. It has to be Ingenuity cost related and I think diminishing online demand.

Stanleyb,

Wikipedia shows the Hale Country Club and Spa as demerged to Ingenuity in 2025. dyor. That would be along with the 2 profitable hotels and leaving the loss making hotel that never opened its doors and had the grand refurb, saddled on THG.

Most recent update was positive on 2 fronts.

1. It provided a healthy return on the initial investment of about double and paid down debt

2. It also dispelled previous assertions allegedly made by Numis. That may have caused some who were Numis acolytes and short to close up.

But as with THG reality always seems to set in and there were also 3 not so good points.

1. It was accompanied by yet another profit warning. Not so long back I'm sure it was MM who told the market that there was more whey capacity coming online and that they anticipated whey prices coming down in H2. Now all learned that apparently there is increased demand so hence the knock to EBITDA.

2. The Sale of Claremont also does also make you wonder why the Convertible Loan was ever needed when they could have sold any part of the business to refinance and avoid the need for the extra shares and dilution. Apparently more coming?

3. Spending more shareholder money on maintaining market share cost everyone £50M last time around and then they rebranded to catastrophic effect. The last rebrand imo clearly isn't working, hence more spend - and as many others have suggested it is probably more to do with keeping Ingenuity busy. Demerged though it was, was it ever seriously demerged? How come AN can operate in the same market for whey and make far higher margin?

If I can also add a 4th and its re you constantly posting this "highly profitable and capable of paying a dividend" statement. How does that sit with the apparent strategy of now going for growth in the US which was also one of the last updates and paying for the large step up in "retail doors"

Just my very honest opinion and I'm off to enjoy the sun and owning none.

You're welcome RobM and I very much intend to. Major announcements only from me.

I'll leave you with stanleyb and the constant monotonous boredom of hedge fund fud (don't you think, jao, dyor) corrupt institutions, FCA not fit for purpose. Blah blah blah.

Great RNS really with a divestment for double money and sizeable profit, reduction in debt in consequence, but tarnished as the sp shows with another Linkedin rant.

Just to add a few more "ways out".

7) Relist elsewhere

8) IPO ESPA

9) Sell Beauty or THG Nutrition.

That's your lot.

Been enjoying one in a world away from THG after getting all my money back and a little bit more.

Good update on the divestment but sorry to say that rather than reading like part of an overarching strategy it actually just reads like they make this up as they go along. When has any of this, just like some speak that came out at the AGM, ever been communicated to shareholders and the market in advance. The Linkedin post maybe hints why that is the case but some need to be convinced to invest and remain invested and I don't see why you don't communicate value creation in advance.

The Numis Boiler room scenario though explains why 25% of the free float may be being shorted at any one time.

There are a number of ways to deal with this.

1) You deliver tangible numbers.

2) If the vendetta is against MM, then he steps aside and becomes a silent but significant shareholder. Bring in a CEO without the baggage.

3) You actually engage on an individual basis with City Institutions and pitch your investment case and win hearts and minds

4) There is a piece of legislation called "tortuous interference" which should be the focus of your company solicitors.

5) They should have sold to Apollo or

6) Listened to all the advice given by Kelso - 2 years ago.

Shame really but it looks like the battle with Numis and the City is still continuing.

Won't be commenting regularly as it's enjoyable simply to have a life outside THG and MM and his rants and to invest in shares that make profits, pay dividends and with quiet bulletin boards.

Decent uptick

In farming speak, somebody making hay whilst the sun shines.

There is actually a good menu of options in there for how company-wise they can deal with such runs on a company share prices, some of which may, some of which may not have been considered by many, including THG.

But to be fair markets themselves need to be serious about market surveillance, investigation and enforcement and to be appropriately resourced.

Forget all this bunkum of doing away with stamp duty and doing away with Cash Isa's to encourage investment. All you are doing is creating the next cycle of short and distort and people to be mugged. Tackle the problem at source rather than skirting round the periphery or you get undervalued companies taken over, taken private or delisting.

No taking away from the fact though that Improving and Good Numbers, Stakebuilding, Strategy changes, Bid approaches and Communication can change the mood.

Inverted ponzi schemes like pack hunting shorting with one blindly following the other become redundant

a) On good news.

b) With a Bid.

c) When the shares available to short and attract in the next member of the pack dry up.

d) When the last ones already in feel exposed and vulnerable and start to close.

e) On quieter bulletin boards.

Take your pick what might be applying here atm.

If none available 1pencil then it should mean any moves in the share price are just market making and with no exacerbation.

It also probably means that having seen the improvement people are simple holding on now to what they have and not lending out.

Worth revisiting over the coming weeks.

So here we have Peel Hunt who actually had full unhindered access to THG for 3 days before compiling a 79 page report into the company and who publish a Target Price of 80p. Then on the other hand you have Barclays who imvho seemed almost overeager yesterday to rush out a downgrade and 33p Revised Target.

So how can you have such disparity?

Which do we think has the greater credibility?

But more importantly who regulates and actually checks these Analysts Ratings and their Broker Notes for accuracy?

For anyone interested here's a bit more meat on the bone for how this analyst was illegally shorting THG. Probably just the tip of the iceberg in terms of criminal access to and use of sensitive information and "whispering" ahead of time. All saw for instance the movement ahead of recent placings and the "splits" key dates @THG.

https://www.investmentexecutive.com/news/from-the-regulators/former-u-k-fund-analyst-convicted-for-insider-dealing/

Yorek it was the free float. So you are right that these are quite different and the free float is obviously significantly less than all available issued stock.

So you have all the LTH's sat tight and this having been manipulated with 25% of only the tradeable stock / free float.

But then you have Mike Ashley having picked up 12.6% of all available stock - which as a proportion of the free float would be considerably higher.

Interesting dynamics developing.

Looks like some Fund buying going on.

Isn't that statement slightly cointradictory though.

For didn't the Shell CEO or Chairman state they might be interested in BP with cheap oil prices?

If not Shell it will be another.

Lets me keep accumulating.