Trinity Mirror Share Discussion Threads

[smicker] 06/3/2017 12:47

Volume of 4m so far today suggests the buyback is not the only price support. Two buys of circa 1.5m indicate some stake building going on perhaps

[cityconindex] 06/3/2017 09:26

Numis are collecting all the slack another 70k odd buyback on Friday, and the price today seems that the market are getting the picture...

[freddie ferret] 03/3/2017 17:20

70k and 75k picked up over the last couple of days. :)
They think they are cheap then?

[patience a virtue] 03/3/2017 13:46

Hope this is the start of a sustained recovery, P/E of less than 3 is too harsh even for a sunset business generating over 100m profit per year.

[patience a virtue] 01/3/2017 16:25

Their freehold properties would have gone up in value too.

[cityconindex] 01/3/2017 13:40

Some respite?
Banks were among the top risers on the blue-chip index as speculation increases that a US interest rate hike will happen this month.

[spoole5] 01/3/2017 13:36

Out for a while, hoping to get back in around 95p.

[freddie ferret] 01/3/2017 13:33

Company picked up 55k shares on there last foray. Largest days buy back yet.

[spoole5] 01/3/2017 13:20

Quite a persistent seller here.

[cjohn] 01/3/2017 12:10

Hi I think one or two of you are being over-blase about the pension déficit.

The discount rate would certainly rise in line with a sustainable uptick in long-term gilt rates. And this would ceratinly cut the computed present value of long-term liabilities. However, such a development would also certainly hit bond values and very probably equity values too. And this would impact on scheme assets.

To give an idea, in the last year, the present value of scheme assets rose from 1528m sterling to 1661.6m sterling. Company pay ins were about 40m. Pay outs were 98m. So scheme assets had a wonderful performance for the year. THis is highly unlikely to repeat!!

Some people have also mentioned that pensioners die and that this will sort the problem. I understand the humour, but sadly actuaries do realise that pensioners will die: that is the very nub of actuarial calculations.

The enormous size of the pension assets and liabilities is a major negative in my view, as it will cetainly have deterred potential buyers for TNI. (It's also a drain on cash.) Irrespective of one's optimistic or pessimistic temperament, anyone can see that the pension situation adds a significant uncertainty to the value of the company. Arguably, this can créate a buying opportunity for PIs like ourselves and did so, in my view, a few years ago, when the share price collapsed into the 20s. However, to my mind, this share isn't currently cheap on FCF/Enterprise value grounds; merely fairly valued.


As ever decent cash flow from a declining business: like for like revenue down 8%. And a decent performance from the small digital business: like-for-like growth figures just in double figures.


All the best to holders.

[kazoom] 28/2/2017 21:24

No problem Harry - what was the gist of the comment?

'F $ >' - I understand the sceptism , but Fox is not the only player here Vijay V comes across as very impressive certainly on the webcasts.

[fewdollarsmore] 28/2/2017 20:49

Spoole I sincerely hope for long term holders things turn out well. I lost out on HMV and you know the saying fool me once....I just don't believe in him and said it at the time of his appointment.

[spoole5] 28/2/2017 19:52

Pretty astute with the local world deal though, if he can pull off another one like that the market will start to view this differently.

[harry_david] 28/2/2017 17:59

Sorry kazoom, they have it blocked and my skills are not good enough to overcome.
My guess is our old bete noir Aviva is back in action. Fingers crossed someone big enough will take him on.

[kazoom] 28/2/2017 14:53

Do you have a link for that Harry?

[harry_david] 28/2/2017 12:20

Good comment by Matthew Vincent in FT

[spoole5] 28/2/2017 12:07

Looks like support broken, should be able to top up under £1 soon.

[smicker] 28/2/2017 10:50

Bought back in again. Can see the inflation outlook fall as oil price held back so taking a chance on a large reversal in the pension deficit.

[spoole5] 28/2/2017 09:31

Pretty important to get back over 110 to keep the uptrend intact.

[philjeans] 28/2/2017 09:06

A great buying opportunity.

You can't ignore a massively profitable business, throwing off huge cash surpluses every week of the year, with negligble debt, yielding 5% and rising,on a P/E of less than 3!

Yes they have a large pension deficit - and yes they're dealing very generously with it, in conjunction with the pension trustees - over £40,000,000 contribution last year!

Wake up mr market.

[spoole5] 28/2/2017 08:29

Does anyone know how much property trinity own and what the bet asset value is?

[spoole5] 28/2/2017 08:08

https://www.google.co.uk/amp/s/amp.ft.com/content/88c78fa8-fcd3-11e6-96f8-3700c5664d30

[foot in mouth] 27/2/2017 22:54

Directors didn't buy (much) when it was 25p either from memory!