Member Info for stockbrokerbelt

* Ingenuity Q4 growth that should say, sorry.

Overall, pleasantly surprised. Particularly pleasing for me are:

- met guidance for a change

- reiterated plan for separate listings/partnerships (my view is partnerships are preferred, but they have to leave listings to aid their negotiation position); I reckon we’ll see something on this in H1 with a partner who can expedite MP growth in the US.

- Ingenuity bid

- H&B deal is excellent (another well known brand trusting them with D2C, this’ll gain momentum).

Tidy update, looking forward to the call.

-

Flat sales and massive decline in profit underlines the challenges as well though.

Personal experience is that nearly all the women in my family asked for gifts from LF this year & a couple for other family members were from Coggles! Hoping that experience is universal and they’ve smashed this quarter but remaining cautious.

I disagree with that entirely Fredster. If you look at valuation of nutrition businesses for example, you can make an argument that’s worth £5-6bn alone.

I don’t think the IPO was massively overpriced. The issue has been a huge cost of living crises, raging inflation & interest rises and geo political unrest. Coupled with the LSE self-imploding.

Markets always overshoot in either direction. The key to unlocking value here is patience. The picture will look VERY different in 3-5 years.

I suspect very few on here invested at launch. Some on the way down, many of whom will’ve averaged down, majority now either in profit or sat more narrow losses that you could reasonably expect to recovers and profit from with some decent performance both from THG and the LSE.

Personally think that the majority of faux outrage on here is just traders trying to influence short term direction. Anyone otherwise so angry and downbeat about THG’s prospects should move on given they have lost so much faith and must also therefore feel there are much better investments for them to recover their losses. Sticking with a ‘dog’ is pointless however much you’ve lost.

So if they don’t have the clarity of mind and conviction to take that decision and move on, I can’t apportion any value to their opinions - which is why I neither read or post so much on this board anymore.

Sadly, I think the LSE is 💀 ☠️

I’m sticking by THG but won’t be putting any other money in London-listed stocks. It’s a dogs breakfast and I personally hope THG are looking at moving too.

It’ll be called the FTSE 50 soon (all that’s left).

Will be grabbing some tomorrow osg. Thanks for the tip off.

Kbyk,

They taste great in the main. Theres a mix, as you’d expect, but I’d say the Hunters Chicken, Meat Feast, Bolognese, Sweet Chilli noodles and Tika/Peri Peri wraps are very tasty and you’d never know you were eating a ‘healthy’ meal. Wraps are also excellent.

There are some others that I’d say taste more ‘healthy’ like the Katsu chicken, chicken Tika, etc. They’re passable but need more of a no pain no gain mentality. And after Xmas I need some of that 🤣 Veg is very fresh/tasty.

Only two I’ve tried and not liked was the Jerk chicken (was a replacement item I’d never have ordered) and the Thai green curry. Not for me.

It you are watching your calories and want a convenient high protein meal they’re excellent imo. Obviously better to prep your own if you have the inclination. If you couldn’t care less about your calories and not training then clearly there’s much tastier items out there.

Brilliant news about the Iceland new meal launches and volume sold. Although Matt has previously said that this deal isn’t material in terms of EBITDA (£1-2m I think) by my calculations, if average selling price is £3.50 then that range has delivered ~£25m revenue to Iceland.

The straight-to-the-the-bottom-line £’s are nice (for very little effort, I imagine) but in my opinion the more relevant point here is that in a year, the MP brand has helped a retailer shift a massive amount of stock, delivered £25m revenue and new customers/footfall - I’d certainly never been in an Iceland before and now visit nearly weekly (my freezer won’t hold too many) and top up with a few other things) - all from a standing start.

Imagine MP will have other retailers queuing at the door to partner, and Matt did say the value of these partnerships would come in having “lots of them” so I’m hoping this is something we rapidly expand in 2024 having used last year as a test bed.

Great news about the cheese but quite unhappy about the exclusivity piece. Really feel for these to meet their full potential we need to see them in all supermarkets.

Yes 1pencil, every time they reduce the SP tanks. They increase and it improves. Keep increasing please Qube 😂🤣

Hardwell - Sanders will have loads in the employee trust. Why buy them when he’ll get given them?

Exactly the same kbyk.

Not anxious about this at all, bar considering the timing of top ups which was undoubtedly an opportunity missed at ~60p :(

To think other beauty brands/businesses are selling for 5x sales is crazy. Ditto Ebitda multiples for nutrition businesses. I think Ingenuity is on the verge of coming good too.

Value will out here. Of that I have no doubt. But the anxious should sell, it’s not worth the stress imo.

Maybe this is why Matt has brought them all back to the office 5 days per week, so the IR team can start doing some work?

I’ll say this again, I think something will already be going on in the background- it has to be, to keep all the big players quiet this long - but there’s no doubt in my mind that doing nothing is no longer an option for MM. Next AGM will be very different if he sits on his hands.

Since the letter was sent in October and not published then, I can only imagine it triggered MM to try & buy a sizeable stake in Kelso. Maybe that’s annoyed Kelso so they’ve decided to issue this now to reassert themselves.

That or they know an announcement of some description is imminent and they want it to look like they caused it.

Whilst I agree that we’re well overdue a promised strategy update and I like Kelso agitating behind the scenes, I find going public unhelpful because we all know Matt will give zero 💩s about it and carry on as he was otherwise planning. I expect it’ll just make him dig his heels in more.

I still believe something is going on behind the scenes though.

Hahaha so MM is becoming an activist investor in Kelso.

You couldn’t make that **** up 😂🤣😂🤣

Incidentally one of them robots will be shifting my lookfantastic stuff today because loads of family members have asked for stuff from there this Xmas.

I saw that post yorek and the video. Proper impressive stuff.

I’d be a bit surprised if he were at work this morning if he’d been in vegas all weekend. And no social media posts whilst there. Maybe he left the hobnobbing to Vivek?

All my orders have been seamless from THG. Never experienced an issue apart from last December when the postal strikes were on and Evri collapsed.

Seems a bit of an extreme response to a delayed order, especially given she provided no details of the issue. Wonder whether there’s an agenda there? 🤔

Absolute nonsense that something like this would cost £200k so don’t believe for a minute that is either the cost or the rumour at Thg hq unless they can’t use google.

But I hope the bonus news is true. That would delight me. I am actually certain that everyone at Thg is working super hard and are delivering great results but you simply cannot ignore the wider market or share price erosion. Everywhere I have ever worked has cut bonuses when the SP has dived or the economic environment is tough so would be very pleased to see THG maturing in that sense. Same with further share dilution.