Updates

THG - Strong Exit Momentum from 2023

February 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

As I had anticipated last month, Q4 saw THG’s best revenue performance for the year with sales at +1.1% versus Q3 -4.4%, Q2 -6.5% and Q1 -5.6%. All the dirty bathwater that dogged it last year (supply chain and raw material inflation) is draining away and the baby is healthy and in good spirits: THG Beauty sales were +2.6% to £387.1m, THG Nutrition -3.9% to £166.5m and Ingenuity (external revenue) was £44.3m. As a result, FY23’s continuing EBITDA is guided to be “above £117m.” In particular, Beauty is going great guns supported by accelerating growth in App penetration (14.7% vs 10.8% Q4 2023), new users and standout performances from own brands, Perricone MD and ESPA. As part of the 2023 strategy, THG ditched low margin s ...

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Boohoo Group

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THG - Mulls IPO of beauty business or strategic stake sale (May 2024)

THG (January 2024)

THG (November 2023)

THG (October 2023)

THG (August 2023)

THG - Operational momentum is improving (July 2023)

THG (June 2023)

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THG - “Ecommerce in a box for global brands” - shares £1 below last year’s rejected bid (February 2023)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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