THG hit 2-year low on modest profit forecast

THG

23/01/2025 12:07

** Shares of UK e-commerce company THG  THG.L  down 7% at
36.72p, hitting their lowest since October 2022
    ** THG's FY 2024 adjusted EBITDA expected to be in-line with
consensus range
    ** Annual adjusted EBITDA upside could be in region of 10
million pounds ($12.30 million), depending on outcome of recent
UK VAT ruling for protein powders
     ** THG anticipates an H2-weighted reduction in whey prices
will be supported by new global manufacturing capacity of high
concentrate that is set to enter the market in the coming
months- Jefferies analysts
    ** The trajectory of commodity normalisation is likely to be
one of the key swing factors in RemainCo profitability in FY25 -
Jefferies analysts
    ** In 2024, shares fell 47.18%

($1 = 0.8128 pounds)

 (
 Reporting by Simone Lobo in Bengaluru)
 ((Simone.Lobo@thomsonreuters.com; +919920570373;))