THG hit 2-year low on modest profit forecast

** Shares of UK e-commerce company THG THG 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)