Member Info for onsolidground

It's far easier just to take the salary and the generous share options which seem in no way aligned to share price performance.

Most are probably investing elsewhere in profitable, growth companies that are actually paying dividends.

I see Kelso took a tumble on Friday off not a lot of trades.

100notout not paying VAT moving forward would be a great position, but one I can't see persisting for any length of time.

I think it far more likely that if HMRC lose then they will simply issue a new legal instrument or directive which will close the door on what is presently a loophole that wasn't meant to be the case.

Needs to be fully won first in any case.

Why are we in this position, where as a company rather than strategically generating our own bang for our buck, we are scarping around and beholden on the decision making of others?

There are clearly short positions sitting on this share price. I was just wondering which might be based on the following,

1. Revenue over profit?

2. No dividend or buybacks?

3. Growth based on the mantra of "just don't lose money"

4. Lack of Progress on Non Core Asset Sales?

5. Lack of full consideration of Takeover approaches for the larger parts of the business?

6. Any perceived Conflict of Interest?

6. The Individuals at the helm?

Thoughts? for I didn't think we would need of a decent announcement to shift this back over 30p as things stand atm.

1pencil, it's now April. So say they had half of Feb and March to sell them. Probably in all probability they who sold on results day and brought the share price back to where it is. Though that doesn't explain the fishy goings on with the rise in the share price prior to the overnight notice of results.

If the VAT refund courtesy of the FT isn't as clear cut as everyone had thought then that leaves us hoping for a reduction in whey prices later in the year, whilst spending for growth.

At what point does the words profit, dividends and return for shareholders enter the fray.

Why don't shareholders in the menatime get given their own shareholder card and discount code, given all the suffering we have had to endure?

ProxLDM

"Nothing to do with Ingenuity ffs ..."

Who actually benefits then from discounted prices or spending on marketing, to create growth.

THG shareholders see nothing in return and especially wjen the expansion mentality is "just don't lose any money".

It has to be Ingenuity that gains business.

When we get a "non-core" disposal that ACTUALLY USES Ingenuity as it's logistics and delivery partner then people might sit up and pay attention. Claremont Ingredients I suspect didn't use Ingenuity.

Well done whoever it was that got in just prior to the last update and that more than likely profited into the rise on update day and then took it back down to right where it started.

The market seems tired and fed up of Whey price excuses, Japan and the Yen excuses etc, and awauts results with growth, but accompanied by profits, and dividends and buybacks.

Imo.

Redacted I suspect that if we were ever to get what this company is crying out for, a new CEO that can deliver for shareholders, then in a flash a lot of Ingenuity business would be ramped up to be profitable and then sold, and unprofitable arms sold off, and damaging the full Ingenuity base case.

Complete conflict of interest Mr Moulding being involved in one as the Significant shareholder and whilst making decisions in the other. This needs complete independence and independent thinking - and this "same old" approach is probably why no institutions are jumping in and why only 2 analysts could be bothered turning up for the Analyst presentation.

I'm peeved off at Fridays almost immediate retrace and it seems like only those who got conveneiently onboard in the days immediately before the update made a return on their investment.

If we can survive wider market volatility today due to possible escalation of the Iran war with ground offensives mentioned and the Houtis threatening regarding Red Sea trade then it will be an achievement.

Even AI has got this Ingenuity contract apparently sussed as being the dead weight around THG's ankles and why others are making good margin and profit whilst we seemingly can't. All we seem to be left with is a wait for an HMRC refund and Whey pricing improving.

To be fair all those "high value non-recognised businesses" (Mouldings words at WEbcast) don't seem to be contributing a button to collective profit. In fact the Ingenuity Capex spends just seem to have been repelaced with spend for growth.

By the way given they have had some of those businesses long enough its been the CEO's job to get those high value non-recognised businesses recognised and or integrated into THG, so as to make a profit.

The fact only 2 analysts bothered to turn up for the webcast just about says it all.

These conscious decisions to overnight warn doesn't appear to be winning any friends.

Just need him to keep on script and deliver further news instead of putting his foot in it. Last one prompted a large sell off / shorting attack, so lets see if he has learnt any lessons from it and the other that were similar.

Not scinitillating volume (unless some hidden) and the share price is still under his last £8Million top up price.

Did Danone approach THG for Nutrition should be the number 1 question that the analysts should be asking imo

Looks like perhaps a bit of insider dealing today @THG with todays nice rise into the announcement.

What saying it works it's way back to 52p shortly thereafter

I'm interested to know if Danone approached for THG Nutrition prior to their Huel Bid.

The rebound is off Trumps latest announcement. It's transformed an FTSE 700 point fall into a marginal fall.

Probably another THG turned down as deeply undervaluing the business

https://www.just-food.com/news/danone-buys-meal-replacement-firm-huel/

Unfortunately the FTSE250 is down 650 points atm which is directing the share price direction of many shares. At this rate though they will exit the FTSE250 at the next reshuffle and that should hopefully buffer them against being tied to Index related falls. Being frank it hasn't provided any tailwinds.

Could that have been someones motivation behind the constancy of fall from 52p. That or creating a 20% discount to Mouldings recent £8Million top up.

Coleen Rooney will be happy with her recent top up. Should be a nice jump over there today you would think.

So why since THG's IPO and over £1.2 Billion spent on Beauty businesses and mass expansion of THG Nutrition can't THG deliver just one penny of profit or a dividend.

Then we wonder why there is no confidence in THG or it's present leadership.

There is an easy win here for Private Equity should they wish.

I don't think it's a seller as such, just an algorythm being used to keep the price in check.

The wide spread this morning was I suspect for a similar purpose.

FTSE 100, FTSE 250, Dow, Nasdaq all up atm. THG down. So probably assistance being provided for someone.

Somebody not quite finished accumulating yet.

The Ask is being starved of buying volume to enable it to fall back and ...

Someone seems happy to scoop up as many as they can get today, in all probability having taken it down to recent lows to get their own way.

Any mention of a £50Million to now probably closer to £60Mill VAT refund @ APN?

or tell me do APN own £1,039 Million pounds worth of Beauty businesses, any of which could be divested or recieve an approach (Bentley Labs, ESPA nd Lookfantastic - the most obvious 3 that have grown since purchases)

Price paid + Year of purchase.

Dermstore. £260.9M. 2020

Bentley Labs. £180M. 2021.

ESPA. £68.2M. 2017

Lookfantastic. £19.4M. 2010

Illamasqua. £16.9M. 2017

Eyeko £16.5M. 2018

Acheson and Acheson. £52.8M. 2018

Christophe Robin. £44.7M. 2019

PerriconeMD. £51M. 2020

Cult Beauty. £291.3M. 2021

Biossance £15.7M. 2023

SkincareRX £4.4M. 2016

Glossybox - £17.5M. 2017

Grow Gorgeous - Undisclosed. 2016

Total for Beauty businesses = £1039.3 Million.

Don't forget Selkirks £400Mill to £600Mill (opportunistic) approach for THG Nutrition.

Market Cap atm: £495 Million

Jpt

Good Logic Piemaker

Whilst the share price is high it's always stacked in favour of the market to short it. For any reason, even for no reason if they wish.

But whilst it is sat SO glaring and obviously low on a Revenue comparison and Sum of Parts valuation then the scales themselves tip back the other way and that I think is what we started to see on Friday.

Heres Revenues in 2025 for THG versus Applied Nutrition (APN)

THG Nutrition: £607.7 Mill. THG Beauty: £1,108.3 Mill. THG Full Revenue: £1,716.0 Million

Applied Nutrition. Total Revenue. £107.1 Million

So THG Nutrition alone generates circa 6 X APNs full revenue

So THG, the whole group (Beauty and Nutrition) generates cica 17 X APNs Revenue.

Yet look at the market caps at close of play on Friday.

THG Market Cap. £501.59 Mill

APN Market Cap. £595 Mill.

So absolutely incredibly the market is valuing APN at over £93 Million quid more than THG.

No mistakes with commas in the wrong place and feel free to fact check.

So can you actually blame the CEO for topping up £8Million pounds worth of shares at 34.93p.

(and even as we speak the share price is still cheaper than that)

https://www.lse.co.uk/rns/THG/pdmrpca-shareholding-tr-1-notification-7vzzepeamcaiit2.html

Don't even get me started on Sum of Parts for Friday Nights THG Market Cap of £501.9M is virtually the Midpoint of how much Selkirk offered for THG Nutrition alone. Thereby gifting you the full of THG Beauty a £1.1 Billion revenue generating business FOR FREE.

https://www.lse.co.uk/rns/SELK/response-to-statement-by-thg-plc-e3rw7vvgabgzb48.html

Scobee, you missed the spread details at the time, so people can have a better understanding

It was 31.48 to Sell and 31.70 to Buy.

Trade 567 of today and Advfn have it as a Buy.

Uncrossing trade was 1,212,656 at 32.2p which they have also recorded as a Buy.

Thanks for also bringing it to everyones attention.

Smoke and mirrors day but looking like an active buyer imvho.

A day of illusion and sleight of hand with small single digit trades and creating the illusion that noone was buying.

Then at 16:25, what was about 1.7M trades only for the day transformed in a flash with this trade

06-Mar-26 16:25:00 32.082 620,282 Buy* 31.66 31.82 199.00k O

Then in literally 10 minutes including the above trade and the Uncrossing trade the volume tripled and 3.4 Million shares have emerged with an accompanying price rise.

Have a good weekend and maybe just take the time to dyor on the value in THG Nutrition and THG Beauty and companies, with a direct comparison to Applied Nutrition.

How on earth THG has ever got to be valued at £100M less than APN when in 2025 it was generating virtually X 17 their Revenue is beyond any rational logic.

(Hopefully Mr Moulding further stakebuilding to 29.9%)