Spg Media Share Discussion Threads

[diku] 24/1/2006 18:16

What is going on here... Lately there seems to be a lot of Director buying going on...

[qut] 18/1/2006 17:49

Re today's RNS, who's Brian Newman??

[qut] 13/1/2006 20:10

Ah well - kuqi's gone to that gtreat deramper in the sky. Adieu!

[qut] 05/1/2006 23:20

whatever happened to old 'chocolate chip' ( kuqi )???

[Abuse team] 08/12/2005 18:00

Post removed by ADVFN

[qut] 28/11/2005 22:36

you old fox kuqi - you're here for a reason! LOL

[kuqi] 28/11/2005 20:47

Yep, I took your advice and I've been reincarnated into someone who really doesn't give a XXXX about this stock now. Cut my losses, put the paltry remainder of my original investment into a stock in the construction sector, and have pretty much recouped the losses from waste of space spm in no time at all. Any more wonderful advice, oh great one? :-)

So instead of holding stocks in this lot for comedy value, I now just drop in ocasionally to view the comedy from afar....and it still doesn't disappoint for good wholesome all round entertainment. I see they've strengthened the management team yet again. :) Must be for the sixth report in a row now, so when is this 'best management team in the world ever' going to produce even an inkling of an increase in turnover? This lot are priceless!

[qut] 27/11/2005 22:15

HAVE YOU BEEN REINCARNATED KUQI?

[kuqi] 26/11/2005 10:15

Sorry, did someone wake you up there qut? :)

[johnblackstock] 24/11/2005 22:53

David, how do you claim that online (Emedia)revenues are excellent, when the company's report says turnover was level at £3m? I don't see how standing still is something that can be described as excellent, unless everyone was expecting turnover in this area to fall? Personally, I'm slightly disappointed that Emedia revenues have stayed flat considering the report claims that it's strategic plan is for this part of the business to become its main activity.

[davidblack] 24/11/2005 19:13

I am hoping for a re-rating.

The management loooks to have turned the corner here with excellent online revenues, a great exhibition busines and a firm growth strategy. At present print is all thats holding it back.

I would think the print business will come back to modest profitabilty this half year and then we will see some solid EPS growth. Once the underlying profits from the non print are seen I think we will be quickly north of 10p.

[diku] 24/11/2005 13:01

This company will be taken over sooner or later at a depressed share price.

[davidblack] 24/11/2005 08:19

Two director buys in two days!

Is there a message? Or maybe they just get paid a lot?

Hopefully the former.

[davidblack] 22/11/2005 08:07

Interim Results

RNS Number:4538U
SPG Media Group Plc
22 November 2005


SPG MEDIA GROUP PLC

Interim Report 2005/06

For the six months ended 30 September 2005

www.spgmedia.com

Contents

Chairman's Statement
Consolidated Profit and Loss Account
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Notes to the Accounts

Operating highlights


Turnover #8.6 million (2004: #9.2 million)
Operating profit #0.2 million (2004: #0.1 million before
adjustment for change in
accounting policy)
Cash generated by operations #0.2 million (2004: #0.1 million)
Cash in hand #0.2 million (2004: Net debt #0.5 million)


Chairman's Statement

Trading results

I am pleased to announce that we have increased the Group's operating profit to
#0.2 million (2004: #0.1 million, before exceptional items) for the six months
ended 30 September 2005, an increase of 23.1% over the same period for last
year.

Turnover fell from #9.2 million to #8.6 million, all of which was within our
publishing business, where the revenue fell from #4.2 million to #3.3 million. A
new and experienced managing director has been appointed to tackle the long term
issues that this business faces.

The emedia business delivered level revenues at #3.0 million with our events
business increasing revenues to #2.3 million up 22.4%.

Emedia

We continue to restructure the Group to become an international marketing
company focussed around service provision on the web.

The first stage of that process began on 7 October 2005 with the launch of our
packaging portal, which provides the packaging industry with a definitive point
of reference using search services to trace packaging information.

We will continue to develop this site starting the process of rolling out this
service concept in our core products over the coming months. Revenues for this
division were level for the six months ended 30 September 2005 at #3.0 million.

Publishing

We appointed Graham Anderson, formerly a director of EMAP Construct Limited
where he was publishing director, in August 2005. Graham comes with combined
skills in print and web based publishing. He is an ex-journalist with 10 years
of management experience.

Revenues within the publishing business reduced to #3.3 million (2004: #4.2
million) principally due to the reduction in the number of publishing titles and
corresponding reductions in our salesforce.

The Group is focused on improving the quality of its core publications with
plans to increase the frequency of various publications to build industry
interest and awareness in support of our overall integrated media strategy.

Events

The events division has performed well with growth of 22.4% representing an
increase in revenues of #0.4 million to #2.3 million over the first six months.
This has been achieved through increasing the average revenue per event rather
than increasing the number of events we have run.

Our events programme for the second six months is also looking positive. We are
launching our first cross media event, PACE, which will support our emedia
portal initiative for the packaging industry. We will be cross promoting all our
services at this event, as such this will be our first presentation of an
integrated media marketing solution to our customers.

Costs

We have seen our cost base reduced by #580,000. Control of costs is a major
factor for the management and will be rigorously controlled within all of our
business units.

Net Funds

The group produced net cash flow from operating activities of #237,000 and made
capital expenditure of some #263,000. Together with other cash flow adjustments
the Group finished the period with net funds of #152,000.

Adoption of International Financial Reporting Standards ("IFRS")

As required by AIM the company and its subsidiaries will be adopting the new
IFRS from 1 January 2007. An impact statement is required to be made on the
results for the year ending 31 March 2006. This statement will include the
effect of the adoption of Share Based Payments (IFRS2), Intangible Assets
(IAS38) and Provisions under IAS37.

Change in calculation of work in progress

Following a review of the balance sheet the Board have decided to change the
method of calculating work in progress. The calculation included absorption of
overheads. Rather than continue this calculation the Board have decided to adopt
a policy where attributable costs are carried forward against the publication or
event. As a result of this review a net #1.2 million has been released from work
in progress. As this is a change of accounting policy it has been shown as a
prior year adjustment. The effect on the prior period has been to increase the
charge in the six months by #0.4 million. A release was made in the second six
months of the year ended 31 March 2005. A charge was made to the reserves
brought forward of #1.3. This is a one off charge and the results of the Group
will not benefit from this release going forward as these costs will be charged
on an as incurred basis. This new accounting policy is appropriate as the
business moves towards its aim of a greater spread of products being produced
and published throughout the year.

Board changes

On 5th September 2005 Keith Sadler joined the Board as Group Finance Director.
Keith brings extensive media experience to the Board having been Group Finance
Director of The Wireless Group plc, radio broadcasting, two quoted regional
newspaper publishing groups and Group Treasurer of Mirror Group Newspapers. I
welcome him to the Board.

Outlook

As with all companies in transition we face many challenges that can affect our
operating results. There continues to be pressure on our publishing revenues.
However, led by a considerably strengthened management team I look forward to
continuing improvements in the underlying performance of the Group.

Stephen Davidson
Chairman
21 November 2005

[davidblack] 17/9/2005 10:10

I think this one is a bid target, they have provided for all the historical liabilities and have a profitable core business on a tiny market cap.

Either this one rises naturally or the SPM management are looking forward to P45s.

Having a core 30% shareholder is a double edged sword, they protect you if your cheap but are likely to sell you out in a flash if a decent offer comes in.

Also its worth remembering that Utilico relationship was with the previous management not this present bunch. The sale of Debretts for peanuts must still hurt badly, a trophy asset sold for pennies.

[jwcs] 17/9/2005 02:44

The last time it "twitched" I started this thread. Some of you may know it twitched all the way to 18p before being unceremoniously dumped, mainly through a management stuff-up. Still think we have a while to wait before it gets back but let's hope it's got some staying power this time.

[davidblack] 15/9/2005 13:04

Yet again its going up!

[qut] 14/9/2005 23:45

where's old kuqi?? Filled his boots no doubt!!

[davidblack] 14/9/2005 19:16

Very much twitched.

A bid? In the last 60 days its gone up 50%, I wonder whats up.

Very nice indeed.

[qut] 12/9/2005 23:28

This continues to twitch

[qut] 05/9/2005 21:39

Somebody buying steadily here. You topping up kuqi?? Possibility of takeover looms in my opinion.

[qut] 23/8/2005 22:35

only way is up - it's very cheaply priced. Potential takeover target also with large holding in company by Utilico. They're just waiting to make their move. IMHO