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Digital Mktg Share Discussion Threads
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|results out today............
Net cash flow generated from operations GBP5.3m!|
post it note
|Worth taking a look at the new interegrated group trading as 20:20
20:20 is a forward looking digital marketing and technology company, with a reputation for creative excellence and effectiveness. Our strength lies in our ability to flexibly tap into insight, strategic, creative and technical expertise to achieve commercial objectives in imaginative and engaging ways.|
post it note
|Digital Marketing Group look great value with the current share price not reflecting fundamentals. Might attract takeover interest at these levels and many of the big agencies are looking to expand in the growing digital market place. The stake that swaped hands today looks like that of Ben Langdon who has now left. EBITDA should be around £5 million, with a current market cap of only £16m!|
post it note
|one gone more to follow with luck|
|I see they are buying in shares this morning, vain attempt to stop stock falling to earth, the strategy has clearly not worked and it is time for the directors to seek a big brother to take them out. Meanwhile Creston yesterday looked to do a cracking deal having degeared when they had the opportunity.|
|note: no comments about 'underperforming stock' from the directors today.
Now we can focus on the underperforming directors.|
|sorry, that should be 2011.|
|Finncap downgraded this from PBT of £5.6m to £3.5m for 2010. Massive downgrade.|
|is that cambridge news article what caused the share price rise in september. I was wondering why it had gone up, and then watched it come straight back to earth.
Today we find out why :
"As stated in our Annual Report and Accounts for 2009/10, market conditions determined that we expected our recovery to be modest in 2010/11. We are seeing continued and strong growth in some parts of our business especially our Technology division which focuses on E-Commerce. However, continued difficulty within our data business and clients remaining cautious about committing to marketing spend, means we are experiencing delays in decision-making. As a consequence, new business opportunities and conversion rates are tougher than expected."
No real guidance on numbers so it is sensible to expect the worst. At least the "underperforming stock" which the directors are happy to keep awarding themselves as "employee" share options is remaining consistent.|
|Decent jump today!!|
|Beat me to it UKI.... whae-hae, another 220k shares issued and yet further dilution.
....and the board have the audacity to question an apparent undervaluation in the share price !
|more equity issued for further "employee" (director) share options|
|I agree with the consensus of comments following the results.
Digital is the niche to be in for a marketing agency these days and I expected better results & cash generation, possibly due to the significant reduction in their data services business. I always believe that results do the talking rather than management talking up their own book throughout the statement;
" Despite our under-performing and significantly undervalued stock.."
" Critically, we believe that the market should recognise this re-balancing of our company's proposition and enable us to benefit from the valuation levels enjoyed by businesses less robust and less digitally and technologically skilled than ours."
I won't be investing here but wish any holders best fortune. They are the largest digital agency (lest we forget) and as I've said it's the niche to be in, IMHO.
FWIW in the marketing arena I retain a holding in CLL which is finally moving off lows and in my search for a pure digital play I came across
Chemistry Communications (CHCP) which is a PLUS stock that performed fantastic in 2009 - £4m market cap that produced fantastic cash generation and knocked down debt of £3.1m to £1.7m, all organic growth that produced PBT of £1.4m with addition of Orange, Kraft, Emirates, Tesco accounts, etc. Illiquid stock but given their momentum reckon they will appeal to larger player given that net debt will be negligible at year end. Currently on historic PER 4 which will probably be down to 3. Recent interims showed EPS up a further 10.7% on top of 150% growth at interim stage last year. They've also just taken on Baileys global digital advertising.
|Neither is the share price|
|moving from Cenkos to FinnCap is definitely not a move in the right direction|
|The charts a shocker cant see this improving any time soon|
|The share chart tells its own story|
|vain attempt to prop up the price by Director purchase. This company needs to demonstrate it is being run for benefit of the shareholders and the price will recover.
I note that two directors (non executive) were involved with London Town which went into Administration in February, rather curious that under AIM rules there is required to be an announcement if any Directors other interests change. They clearly accept the need to do this because they made an announcement about another director in November 2009
Andrew Wilson (representing Lord Ashcroft) has had a string of other problems, Watford Football Club and Mavinwood included, none of which seem to have been disclosed to shareholders and do not bode well for shareholders in DMG
I am suprised the Nomad is not more on top of this|
|I know 2 directors here and I can confirm the company is being run for their benfit NOT the shareholders. This has all the signs of attempting to achieve their massive share options, while only only 2 parts of the company are generating any profit at all. Agree best avoided.|
|A review of the carrying value of our intangible assets and goodwill was carried out at the year end and using a conservative weighted average cost of capital of 12.9% the Board has decided to impair the carrying value by £3.8million.The reported loss before tax for the year of £1.4 million (2009: profit £3.1 million) is therefore explained by share based payment charges of £2.9 million (2009: £3.0 million), amortisation of £1.9 million (2009: £1.9 million) and an impairment charge against the carrying value of intangibles and goodwill of £3.8 million (2009: £nil).|
|Last year they said debt would be reduced to £2m by yr end, even chronic investors (nov 09) forecast debt down to £3.8m
'We had an excellent year, actually,' recalls Langdon. 'Our gross profits, which show that each of our businesses are growing, were up 26 per cent to £41.6 million. And we were doubly pleased, because the last three months of the year were not the easiest and delaying has continued into the first quarter of 2009/10.'
'We generate £5 million to £6 million of cash ever year,' says Langdon, 'and we are paying off the debt as we go through. We are looking at £2 million [debt] by March next year.'
Yet net debt at year end was: Net debt £7.3m (2009: £5.9m)
edit: so the £2m they 'paid' for 20:20 and other share based payments account for this. But there is little talk of cash generation and debt reduction in the finals ....|