Member Info for stockbrokerbelt

@Licker,

It’s just the same old bllx regurgitated every day though, isn’t it? 😴 😴

If that’s what floats peoples boat, and they get some comfort from droning on, they can knock themselves out as far as I’m concerned. It’s a public bb where folks can discuss what they like.

I’m just saying I find it completely tiresome and visit this board a lot less now as a result. Reads like a gamblers anonymous counselling session sometimes - everyone feeling hard done by and complaining it’s someone else’s fault, rarely offering any solutions. Or interesting discussion at all, actually. I’d rather read nothing.

I’m not a Moulding groupie - I have constantly said I’d prefer he not attack the City even if I sympathise with his position & respect him standing up to tell some tough truths, find his lack of clarity on strategy quite disrespectful and am becoming increasingly tired of innuendo with no follow through - but I’ve yet to come across a single poster on here who I’ve thought “wish they were CEO” 🤣 so I find the constant criticism quite cringeworthy in that respect. And I actually think he’s delivering very creditable operational performance as Kelso noted what it is.

I’d like the value gap to be closed like everyone else but in the meantime am loving the additional time it is giving me to add at these prices.

Great post Canary.

Like you, I’m not bothering with the board as much these days. Check in once a day probably (a bit more when I’m not working) and scroll through to see if the decent posters have been on. Else just ignore all the anti-Moulding guff. Those guys might as well be talking to themselves as far as I’m concerned.

Agree also that those with so much hate for the CEO should sell and invest elsewhere. Because he won’t be going anywhere.

Really hoping we get a tangible strategy update with the q3 results so this board can move on and return to how it used to be.

Agree with OSG that Yorek and dafad are top posters 🏆 👏🏻 👏🏻

And I like OSG’s long ones personally, always worth a scroll to remember just how much is going on!!

OSG - I think they’re doing more than trying to expand, they ARE expanding right before our eyes. MP in particular appears to be booming with all the recent deals that have come to light. Well done to those that found and posted them. Very comfortable holding here with all this activity going on, and think it’ll bare fruits in a couple of quarters, even if I’d like some more straight talking (less innuendo) and more detail on strategy very soon.

Re: Apollo bid, I don’t think he told us because it was decent and we’d all have accepted it but he didn't want to lose control. That and it might hinder any MBO offer he might be lining up.

So you don’t appreciate them i101? 😂🤣

Oh I think that bit is just Hargreaves’ way of telling us that it probably won’t go down forever and if you hold long enough it might go up. But no guarantees 🤔🤭

The markets closed at 16:30?!?

So, got the location wrong, it’s actually going to be on 74 Moseley Street.

https://www.instagram.com/myproteinkitchenuk/

This is an area I know very well as now work in St Peter’s Square and used to work on Mosley St.

The good news is that it’s a brilliant location. Exactly where I would chose in Manchester bar maybe Spinningfields. Better than Princess St.

The bad news is it’s listed as a coffee shop (not sure we need another one of them) and the opening hours on Google show 7am-3pm so not the all day operation I’d imagined/hoped. Mistake this, imo, because a lot of people go to the gym in the evening/after work.

@skfrn,

I don’t think anyone said it would have an immediate or even positive effect on the SP, did they? I certainly didn’t and nor would I. I don’t think we can restrict this board to news flow that will have an “impact we deserve” or it would be a very quiet place over the last couple of years.

Re: kettlebell, I was aware of that, and I liked the concept then. It was on my drive in to work and I always looked in - but never went because it was too far out for me and from afar I’d say fit out looked a bit cheap - but I was surprised when it shut.

That was an independent and I think to do something like this well you need the financial muscle, marketing ability and brand that MP has. And the capacity to scale quickly if the concept is successful as it’ll only work if delivered at scale.

For me it depends on what it turns out to be - if it becomes a place you can get protein pancakes after your morning workout, a meal prep for lunch, a shake any time and also go out for a nice meal in the evening, I think it has real legs. If it’s a narrower concept or protein shake bar I’ll be less enthusiastic.

Leon only opened 65 stores and sold for £100m. More than 10% of current market cap. So I’m all in for this kind of growth opportunity.

Disagree Monty.

I think there’s a potentially huge market in healthy-eating restaurants/cafe’s and they have the benefit of being able to cater for breakfast (morning gym goers), lunch (health conscious office workers) and dinner (those looking for a healthier dining out experience), plus those looking for smoothies/shakes all day long.

Beyond all that you can use it to retail your core products and there’s likely plenty of others they could add. The frozen meals, meal prep options, etc.

I work near there (when I go to the office) so will nip in and see how they’re doing it though. I think it has great potential if done right, but we’ll have to see if that’s how they do it.

Obviously on a larger scale (4000 outlets) but Coke bought Costa coffee for £4bn or something, which they built from the ground up. Different, I get that, but I think there could be value created by a large scale clean eating chain.

Https://www.instagram.com/p/CyInqzstDGY/?hl=en

MP instagram saying we’re opening a new MP Kitchen on 14.10.23. Looks like it’s in Manchester on Princess Street.

FWIW, I love the idea of a clean eating restaurant/cafe. A network of those, also acting as a retail outlet for our products, would be a brilliant expansion opportunity.

FWIW some will recall that I met an old school friend and THG employee at a wedding recently and he intimated, without giving any detail, that there were some huge clients in discussion/development with Ingenuity but didn’t say who. Personally can’t imagine something as huge as Tesco would’ve stayed under wraps, but this was the sort of thing I was expecting to come based on the conversation.

That was a long while ago now and tbh had assumed whatever it was had gone away/not happened but that article says its been in development for 2 years so… maybe. It’s something game-changing we need and would massively help a US listing of ingenuity.

Does anyone know how much ICON sale is going to net MM? We know that not all the proceeds are going to go to him as there’s a debt to repay. I seem to remember reading that WBC funded half and there was other debt from other banks. It would then depend how much of that has been repaid.

For me, I don’t think it will be enough to play a material part in an MBO. I’d love to see him use any proceeds to buy more shares in THG though.

An alternative, which I think is far more likely than an MBO, is that he lists Ingenuity in the US. That remains say 80% owned by THG, Matt buys a personal holding in that (say 5% - using ICON funds) and he then raises the other 15% t from external sources. Ingenuity gets a big cash injection that hopefully covers its immediate cash needs and Nutrition/Beauty profits are freed up for reinvestment and growth.

That’s what I’d do anyway.

While I’m on the subject, I’ll also say that their Buy Back strategy is clearly not appropriate for THG at all, at the moment. At least not until they are significantly cash flow positive. That undermines their credibility in my opinion.

Kelso get so much discussion on here when they’re an absolute irrelevance. It’s like discussing the nonsense that CitySpy tweets.

I bet collectively the regular posters on here hold as many shares as they do. They just have a mechanism to share their opinions to the wider market/media that we don’t.

I’ll give them their dues, their RNS following results was very welcomed, professional, considered and epitomised my own views - so it was nice to see that other experienced and trusted investors felt the same. So I’m generally very supportive of Kelso… but I don’t think they warrant the discussion on here that they get. Whether they stay, add a few more, sell up completely - they matter not.

I think we need the next results to be decent AND accompanied by an effective strategic plan outlining how they plan to recover shareholder value to really get this motoring. I think MM has done a massively better job at navigating this climate than people recognise on here, there’s been a lot of action and change. But the lack of information on strategy is bordering contempt for shareholders now.

My only assumption is that a) he’s working on something he can’t yet announce, and b) the large shareholders are aware, which is why they remain supportive. There is a risk of course that this is not the case, but I think there will be very different outcomes at the next AGM if this is not set out and very soon.

In response to OSG’s post, does anyone know the margin in beauty manufacturing?

£10m is the alleged reduction in profit so at say 10% margin, might we assume we lost £100m revenue? In which case Beauty would have grown in H1 in ‘normal’ conditions. Or I’d margin actually much higher in manufacturing? Matt describes it as highly profitable.

I was going to post the same LD1973.

It’s outrageous the fall we’ve had for hitting guidance (ahead in some areas) vs the reaction to Boo for a massive miss.

Their huge sales decline has underlined that our results were very creditable in a market where consumer spending has been so badly hit, particularly given beauty de-stocking .