Podcast revisited.24 Jan 2025 10:45
I've just watched yesterdays podcast again and it wasn't his best performance, Again, and full of waffle. No idea why individuals are still in position with those Nutrition numbers.
Really sorry to say it came across as another same broken record performance and trying to mask falling sales at THG Nutrition and falling revenue overall for the group (£2.2 Billion in a previous year now seems down to £1.7B). Still mentioning that cur sed rebrand and forex headwinds and now suddenly the new one, rising whey prices up 50% impacting. Attempts at mitigating circumstance moving forward all seemingly failing to gain approval: normalised whey pricing with one and then a later plant set to come online, localised production in Japan, HMRC claim...
I'm now beginning to understand the analyst lingo of "thanks, very useful".
He really couldn't answer on the exact reasons for such a fall at Nutrition and what the analyst thought was a 20% decline in online, and appeared evasive on offline bricks and mortar cannibilising online. The real reasons must be known and must be combination of mass new competition including supermarket own brands, cannibilisation, probably better taste offerings and textures, and dare I say it postal costs probably deterring also.
Was going great guns till the rebrand mucked things up (note the m instead of an f) and hasn't recovered since.
Poor show that plays again into the "opportunistic" sell side analysts hands.
No new money off me I'm afraid and best hope is Selkirk or a Bid. Not the best investment strategy but it is what it is.
All imvho
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