Member Info for Yesimabeliever

Dunno why SMS so wed to being listed on the LSE.

IMO he’d be much better selling to US PE, and get strategic M&A back on the table.

Digital landscape is evolving so fast, strategic M&A has to be part of the toolkit to stay cutting edge and acquire the right talent in niche areas.

Thx for the find. Sounds like a deliberately conservative outlook for 2025 due to prior misses, with possible dividend/buy back if they perform later in the year

Concur 1msn. Now stable, current market valuation is surprising.

I’m planning on accumulating more, any growth in 2025 and this takes off.

As for your comments LSE, selling AI enabled services is a strong and sustainable business model IMO.

@osg I am far from happy about the situation, but still believe THG is worth multiples of current share price. Sooner or later shareholders have to force an outcome

Kelso silent, major holders voted through Ingenuity giveaway but didn’t want the shares.

Plans are afoot IMO, we just got to sit tight and wait frustrating as it is.

So true that Hype Re the wife 😂 😂

There is an argument though Steve that MM can’t forecast whey prices and FX. Yes myprotein numbers are soft currently and timing doesn’t look optimum for full value on a deal, but a strategic investor/partner might be able to look through whey prices/FX and do a minority deal that works for everyone.

Rebrand may still be the correct long term call, brand has now developed partneships in food/drink that were not in place in 2023, and provide a model to attack other markets like US with partners.

2023 would have been a great time to do a deal. They made the decision to rebrand. Has hammered share price short term, but of course long term could still be the right long term call.

Looks a sensible deal for fevertree. If you believe McDonald Selkirk comments, difficult for trade to make minority investment straight into a conglomerate division, but Selkirk could be the vehicle for trade to minority invest into myprotein.

Working capital requirements will dial back up as/when demand for services picks up. Personally would prefer to see cash retained in business vs quick wins for the share price. The fact we are having the debate though is a positive signal that they look more in control of the business. A cautious outlook statement in the RNS, but recent new hires could be a sign SMS is quietly feeling more confident on the outlook. Underpromise/overdeliver.

Oh for some economic green shoots and some new client wins to accompany GM.🚀

Https://www.storyboard18.com/brand-makers/s4-capitals-monks-hires-wpps-ketan-desai-to-lead-as-md-54860.htm

Your numbers are correct @petrencf, but how do you reconcile that FCF vs S4 current market cap. With S4 having right sized the cost base and looking more stable from a revenue perspective it looks simply too cheap, even with no growth

Points well made @osg about both the silence, and the ability to pick up the shares. Curious as to who’s sold.

Like you say, Kelso been very, very quiet, since one small statement supporting the demerger.

Hopefully

Timing?

Can’t see any distributions/buybacks until more confidence in macro

Agreed. Was concerned pre results CFO going might mean another miss, transpires her work is done her lopping out cost. Time for a fresh face for growth who isn’t tainted in thr business from cutting heads. Come on SMS turn all this talk about AI into more wins like GM, get some growth into s4 and £1 is a realistic target

Thanks for the negative historic analysis Steve.

I guess most of us are expecting at some point the dynamics will change here.

Happy for frazers to throw in a grenade and mix things up a bit. Friend or foe for MM, time will tell, but it seemed like a cordial relationship over the summer with the fraserplus/coggles/myprotein love in.

1pencil, this analyst in US talks about whey prices, issues with supply vs new supply coming online in 2025. He’s a bit of an acquired taste, but knows sports nutrition pretty well

https://youtu.be/ed2oKuTxmn8?si=fd1xkB4_304sbBHe

Good Q4 result having right sized the cost base, after disappointing q2/q3

Happy with the cautious commentary in the outlook, macro is still volatile and unpredictable. Underpromise/overdeliver.

Some interesting new hires in recent weeks.

If they can get some growth going, multiples are crazy low 🚀

Was awaiting your negative take Steve thank you.

Is there a call, if so does anyone have a link?