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Sep 17 2024, 09:15 IST/BST
THG plc
FY24 profit guidance lower; potential demerger of THG Ingenuity
DAVY VIEW
H1-24 profitability came in materially lower than consensus expectations, driven primarily by softness in the THG Nutrition division. While headwinds impacting first-half performance have started to unwind, management expects FY24 adjusted EBITDA to be at the lower end of the consensus range (c.9% below expectations). Separately, THG is reviewing options for a potential demerger of THG Ingenuity. At first glance, we envisage significant downside to our FY24 forecasts.
