Ingenuity

Today’s news in brief-29/4/25

Primark reported a 1% rise in sales to £4.47bn in the first half of the year, with adjusted operating profit up 8% to £540m. However, UK and Ireland sales fell by 4% due to cautious consumer spending and mild autumn weather affecting seasonal purchases. The retailer’s market share in the…

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THG revenues rise 1.1% to £1.8bn in FY24

THG has seen its revenues rise by 1.1% year-on-year to £1.8bn in the year to 31 December 2024, while its pre-demerger adjusted EBITDA hit £123.1m in line with guidance and consensus.  It comes as, during 2024, THG completed its Ingenuity demerger, joined the FTSE 250 index, and refinanced its long-term…

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Today’s news in brief-23/4/25

THG has rejected an unsolicited takeover bid for its Myprotein brand from Selkirk, describing the offer as “undervalued” and lacking sufficient funding. The proposal, which valued Myprotein between £400m and £600m, was largely structured in Selkirk shares, with additional cash payments dependent on new equity and debt issuance. THG’s board…

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THG rejects ‘undervalued’ takeover offer for Myprotein

THG’s board has confirmed that it received and rejected an “unsolicited, largely unfunded, highly conditional and non-binding” proposal from Selkirk to acquire Myprotein following recent speculation surrounding the potential deal.  Selkirk’s proposal ascribed a headline value to Myprotein of between £400m and £600m on a cash-free, debt-free basis.  According to…

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THG completes debt refinancing to 2029

Manchester-based online retailer THG has announced it has completed its debt refinancing arrangement up until December 2029. The news comes as THG revealed it has been undertaking a comprehensive refinancing exercise which includes a partial Amend and Extend of the Term Loan B to extend the maturity of €445m (£376.6m)…

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Today’s news in brief-1/4/25

Retailers are bracing for a £5.56bn rise in costs following the implementation of recent Budget measures, including higher National Insurance contributions and an increased minimum wage. According to Retail Economics, these changes will force businesses to absorb £1.76bn in profit losses while passing £1.72bn onto consumers through price hikes. Chancellor…

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Frasers ups stake in THG to 10.92%

Mike Ashley’s Frasers Group has revealed it has increased its stake in THG from 4.8% to 10.92%, according to the latest holding documents filed by the company. It now holds 151,940,734 voting rights in the company. The news comes as THG successfully fundraised £90m with the support from new investors…

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THG successfully raises £90m with help from founder

THG has successfully fundraised £90m with the support from new investors and existing shareholders, including a £60m contribution from founder and chief executive Matthew Moulding.  The equity contribution was made up of £30m of new ordinary shares, and Moulding’s £55m convertible loan and £5m of partly paid shares.  The firm…

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THG Studios appoints new senior vice president

Creative agency THG Studios has appointed Richard Aldiss as senior vice president, to spearhead growth. His appointment will see THG Studios build on its growth in 2024, which saw the agency craft campaigns for the likes of Toblerone, ASDA, Disney, and Sky Bet’s The Overlap, along with the launch of…

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Today’s news in brief-29/1/25

Lord Wolfson, CEO of Next and Conservative peer, has leveraged his House of Lords position to propose amendments phasing in upcoming National Insurance (NI) reforms. The budget measures, effective April, will raise employers’ NI contributions from 13.2% to 15% and lower the secondary threshold to £5,000 annually. Wolfson supports staggered…

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