Member Info for The.Crowman

Having worked with a variety of outsourcers over the years what struck me most was at a delivery level key individuals and their competence was paramount. Good operation managers with regional managers delivering the support needed were essential otherwise it often was a disaster until those individuals were replaced or at worst break clauses envoked and the contract terminated.

I am coming to the conclusion Capita do not have the talent to deliver on their high ambition. The PO pension is indicative I fear of a fundamental issue that Capita may not know how to resolve.

As per - good TS for once.

THG Nutrition Q1 2026 highlights

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Revenue growth (+8.8%) was broad-based across online and offline channels, with expansion into gross margin accretive categories including activewear and creatine helping to mitigate elevated whey prices. The core powder range was also optimised through reformulation and strategic pricing, alongside the launch of MARS® Impact Whey Protein.

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The intentional pivot in Asia to license with pre-eminent local manufacturing and distribution partners has resulted in a revenue decline in these regions as the business rebuilds on structurally higher-margin foundations. Growth in Asia will resume once the structural transition has been annualised in the comparatives. Excluding this territory, THG Nutrition delivered revenue growth of +12.1%.

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C.15% of active customers purchased activewear in Q1 (+230bps YoY), with AOVs on orders including activewear c.31% higher. The range aims to introduce the brand to new customers through expanding beyond performance wear to lifestyle audiences, supported by the recent launch of Myprotein's collaboration with Champion and upcoming launch in high-footfall Footasylum stores.

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Myprotein's licensed out range delivered >200% growth in units sold into retail YoY, supported by the launch of Greencore food on-the-go items and expansion of the Müller range. In addition, the partnership with Jimmy's Iced Coffee, now holds a c.20% share of the protein coffee sub-category[6], underlining the strength of the brand in adjacent categories.

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UK and international retail expansion continued at pace with Myprotein achieving record market share value in the UK total sports nutrition category[7]. Initiatives launching towards the end of the quarter building into Q2/Q3 include;

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launching branded bays in Tesco stores nationwide, bringing several categories together in one location driving trial and discovery;

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entering Canada and Latin America with new distribution partners alongside a marketplace presence;

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launching in 1,200 Kroger stores in the US in June, complementing existing major grocer listings including Walmart and Meijer;

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expanding presence with GNC (4 x Clear Whey RTD SKUs in 1,500 stores) and Vitamin Shoppe (first-to-market launch of Myprotein Gummies range).

For further information please contact:

Matthew Moulding, CEO of THG commented:

"It is energising for everyone at THG to see such a strong start to 2026, building on the better-than-expected momentum we delivered in H2 2025.

In Beauty, Lookfantastic is once again outperforming the market following two years of business model change, while the US continues to perform strongly.

In Nutrition, our diversification into margin-accretive categories is now clearly paying dividends. Activewear continues to deliver exceptional growth, with annualised run-rate sales fast approaching £100m. Growth across activewear and other high-margin categories, including creatine, hydration and collagen, is helping to offset record whey commodity pricing.

While the geopolitical backdrop remains uncertain, we enter Q2 with confidence after a better-than-expected Q1, giving us a stronger base against any unforeseen risks later in the year."

THG Beauty Q1 2026 highlights

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THG Beauty entered 2026 with significant momentum in UK and US retail. In the UK, orders grew by 7% alongside growth in the LTM active customer base.

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US retail saw revenue growth and market share expansion[5], driven by a 10% increase in new customers. Dermstore became one of the first major online beauty retailers to partner with Flex, enabling customers to pay for a significantly greater amount of their skincare regime with their pre-tax earnings through Health Savings (HSA) and Flexible Spending (FSA) accounts directly at checkout, improving affordability and convenience whilst supporting AOV increases.

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The K-Beauty category was a standout performer, with revenue more than doubling YoY, supported by the launch of six new brands YTD. Across the platform, new brand launches continued to support growth with SkinCeuticals and MAC exceeding expectations since their launch on Cult Beauty.

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The new Lookfantastic store in Bristol is outperforming the initial flagship store launch, creating a localised halo effect supporting brand awareness and new customer acquisition.

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The own-brand portfolio is building on the lifecycle investments made in 2025, securing new retail and spa listings for Ameliorate and ESPA. Within manufacturing, revenue growth is driven by strategic new business wins alongside continued growth from its existing customer base.

RNS Number : 2087B

THG PLC

21 April 2026

21 April 2026

THG PLC

First quarter trading statement for the period ended 31 March 2026

Strongest Group Q1 revenue growth since Covid 2021 (+7.0%)

THG Beauty revenue growth accelerated to +5.8%, driven by a strong US performance and 7% order growth in the core UK market

THG Nutrition revenue growth of +8.8% (+12.1% ex-Asia)

Full year guidance reiterated

Q1 2026 Group trading performance

£m

Q1

2026

YoY

Growth

Continuing[1] CCY[2]

THG Beauty

233.3

+2.4%

+5.8%

THG Nutrition

159.8

+8.1%

+8.8%

Total revenue

393.1

+4.6%

+7.0%

All comparative figures are continuing CCY unless otherwise stated, all numbers and tables subject to rounding.

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Q1 2026 revenue growth of +7.0% representing the Group's best Q1 growth performance since 2021, with Beauty accelerating on H2 2025 (+5.8% vs +5.4% H2 2025). Growth was modestly impacted by disruption in the Middle East (c.30bps), with underlying growth accelerating on Q4 exit trends.

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As previously guided, the combined impact of disposals and discontinued activities reduced Group Q1 2026 revenue growth by 150bps, with the currency headwinds most pronounced in the US.

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THG Beauty delivered continued retail momentum, with Lookfantastic outperforming the UK prestige beauty market[3], driven by growth in orders and active customers.

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THG Nutrition grew across all channels, with expansion into higher-margin categories such as activewear, creatine, hydration and collagen, alongside pricing and product optimisation, helping to offset elevated whey costs.

Outlook and guidance

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Following a strong start to the year, the Group maintains its guidance for FY 2026[4], underpinned by continued market share gains in key territories and the successful implementation of pricing and product optimisation strategies.

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The Group continues to monitor developments in the Middle East with affected regions representing less than 1.5% of Group revenue in FY 2025, weighted towards THG Beauty.

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Strongest Q1 cash flow performance in three years, underpinning full year free cash flow guidance of £25m to 50m.

Matthew Moulding, CEO of THG commented:

"It is energising for everyone at THG to see such a strong start to 2026, building on the better-than-expected momentum we delivered in H2 2025.

In Beauty, Lookfantastic is once again outperforming the market following two years of business model change, while the US continues to perform strongly.

In Nutrition, our diversification into margin-accretive categories is now clearly paying dividends. Activewear continues to deliver exceptional growth, with annualised run-rate sales fast approaching £100m. Growth across activewear and other

The price advantage remains within the sector though so the uplift stands. The biggy here is MM - if he shows real support to getting the sp up and not his usual bashing to buy in cheaper this could easily get to 70p. On improving results a quid is doable.

Will he though? My guess is he wants it back and will at some point make an offer. The share price needs to be a good bit higher for that to be acceptable - think 55p. Then his 20p premium will be enough for very long suffereing holders to take the 75p ish and walk.

He gets to relist in the US in a couple of years time cementing him as one of the North Wests business greats.

Makes me chuckle reading the sad sacks on here mewling and puking over Aimless and co'. You all deserve each other.

What a waste of time and effort from start to finish yet on you plod.

Roll on 70p and the Crowman is taking to wing to never return.

Like everyone I have seen - its a positive bar the lack of luggage space.

Will it save Aston? Time will tell.

https://www.youtube.com/watch?v=MJzKimqBXX8

The car has certainly had some very good reviews across the board. As an engineering exercise it explains in part why AML have burnt through as much cash as they have.

Will it save them? I have my doubts given the financial reckoning they face or at least the current shareholders face, that said with a clean slate (DfE) AML could with this type of product for sale gain real traction and generate some profits finally.

MM wants to own it 100% again. Hence the sp as everyone in the City beleives he will engineer another Ingenuity robbery situation.

I see this being sold with holders being given the option to walk away with at most 60p a share.

Moving into bargain bucket teritory again. Added today 20,000 will take a view on Wednesday but I suspect we will have a recovery.

This share never fails to surprise - I thought our pre Xmas run up past £4 felt too soon. Might take till this Xmas coming to get back - who knows. What is clear dividends and share buy backs are not happening for at least two years but 313m mcap is silly cheap.

Takes some doing but CPI have pulled it off. Double digit decline and to think before Xmas folk on here thought we would be over £5 by today and rising.

Truth here is this 'jam tommorow' tale is wearing very thin. Five years of maybe next year sees us at a preconsolidation price of 20p. The 2019 RI was 70p.

If we ever see £4 again I will take the door marked Exit and never look in at this again. Question is will we see £4 this year - I have my doubts.

Stunning - might buy some back this morning. I thought it would disapoint but 12% down.

@SG0912 - I would be the same as you if I had bought AML - aggressive and rude. Sympathies to you but you were warned.

Anyhow lets just see where this goes.......... problem with a manufacturing company the numbers are very hard to hide.

Mixed - below my expectations and I beleive the market will see this as a miss. Hope to be wrong.

Net debt up, FCF - where? Call centres under performing. On the upside margins solidly improved - below the target though.

Disapointing to be honest.

Capita plc

Full Year Results 2025

Significant progress against strategic priorities; transforming to an AI-led BPO; financial results in line with expectations

Capita plc CEO Adolfo Hernandez said:

"2025 was a pivotal year for Capita as we progressed our transformation to become the first AI-led business process outsourcer. We are building momentum as a leaner, more agile business and are well positioned to capture the market opportunity as customers increasingly look to AI and technology to improve productivity and efficiency.

“We have made strong progress across our Better Capita strategy, with Better Technology at the centre. We provide knowledge and experience of our customers Business Process Operating Systems that integrate AI into complex, real-world workflows that require accountability, security, and human oversight. As our £19.8bn pipeline shows, demand for our capabilities, AI solutions and digital delivery continues to grow, this year around two thirds of the Group's revenue was AI-enabled and we further improved customer satisfaction, with cNPS rising to +31, the highest level since we began measuring it in 2018.

“Alongside this, we delivered a major milestone by delivering £250m of annualised cost savings, strengthening margins and enabling reinvestment in our product, data and cyber capabilities. We also resolved several significant legacy challenges to simplify the business. As a consequence of our disciplined action, we saw adjusted operating profit increase 34% to £114m and the operating margin increase 140bps to 5.2%.

“With clear priorities for 2026, we remain focused on disciplined execution and are confident in our ability to drive further progress in Capita’s transformation.”

2025 Financial Results

Adjusted revenue1 declined 1.2% to £2.2bn (2024: 6.8% decline), with strong performances in Public Service and Pension Solutions more than offset by revenue decreases in Contact Centre

Public Service division (66% of Group adjusted revenue1) delivered its highest adjusted revenue1 growth in the last five years increasing by 4.5%, helped by contract wins and expansion of existing scopes

Revenue reduction in Contact Centre of 17.5% (24% of Group adjusted revenue1) from ongoing impact of previously announced contract losses and volume reductions in the telecommunications vertical

Pension Solutions adjusted revenue1 increased 4.5% (9% of Group adjusted revenue1), as we saw the benefit from indexation on existing contracts and go-live on new contracts

Adjusted operating profit1 increased 34.2% to £113.5m (2024: £84.6m), reflecting the benefit from the cost reduction programme which more than offset the Group’s revenue reduction

The Group's adjusted operating margin improved to 5.2% from 3.8% in 2024. Strong performances in both Public Service and Pension Solutions, delivering operating margins above the Group's medium term target

Reported operating loss of £129.6m (2024 loss:

Brave imo - you folk are ignoring the balance sheet which is dire. Now I may be missing a non core asset they can sell but without AML are technically bankrupt without a further refinancing round which at the current sp is highly dilutive and assumes investors will pony up.

Structurally they lose too much money and whilst I accept the product is now top notch the sales numbers reflect poor residuals and stock overhangs. These can be sorted but the former issues need radical and expensive surgery.

Anyhow good luck longs (Stocky excepted - unpleasant poster) I hope your bravery is rewarded.

I do not think Trump is in control here - Iran are the decision makers. This war will end when they decide not Trump.

Trump heads up a terrorist state alng with his dumb show pony Hegseth. History will judge them harshly.

Exactly this: "MM has three options, to resign and get a new CEO and Chairman, Prove the city wrong and make some decent profits or to sell the company. I think shareholders deserve better."

You should add - Buy the company to that list. In my view the favoured option and hence why he does zilch to support the sp beyond take advantage, indeed I beleive he talks down the sp at analyst conf' calls - He has a plan. I am not counting on more than 70p but ideally that would be sooner than later.

I hold 1.1m of these as of right now. So maybe I am just wishfully thinking.