Hut Group slumps again as analysts predict full-year profits will come in some £13m short
Problems: Hut Group boss Matt Moulding
The Hut Group fell again yesterday after analysts predicted its full-year profits would disappoint.
The online retailer’s stock fell 18.7 per cent, taking losses since the start of 2022 to 47 per cent.
The shares are down 76 per cent from their float price of 500p in September 2020. The latest fall seemed to be prompted by a note from analysts at Citi, who said foreign exchange pressures and higher commodity prices would weigh on THG’s profits.
They said the firm would likely pull in £164million, down from their previous expectations of £177million.
It is yet another blow for founder and boss Matt Moulding, who last year blamed investors for the company’s poor performance.