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Share Name Share Symbol Market Type Share ISIN Share Description
Connect Group Plc LSE:CNCT London Ordinary Share GB00B17WCR61 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 25.70 25.10 26.20 - 110,006 14:59:51
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 1,467.9 -37.6 -12.9 - 64

Connect Share Discussion Threads

Showing 1701 to 1724 of 1725 messages
Chat Pages: 69  68  67  66  65  64  63  62  61  60  59  58  Older
DateSubjectAuthorDiscuss
22/10/2020
15:29
Thanks Jak, Yes I'd seen that and personally I felt relatively comfortable that they could refinance even before that update. However I didn't think all of the MelloBASH panelists were quite as sanguine. Interestingly, Ed Croft gives a less positive readout on the panels conclusion suggesting : disagreement over whether a hold/avoid vs strong buy. Still, everyone's entitled to an opinion.
kazoom
21/10/2020
15:08
kazoom, Yes. From the recent trading update: "Net debt at FY2020 year end is expected to be circa 2X EBITDA prior to the repayment of the Tuffnells working capital loan ..." See: Https://www.investegate.co.uk/connect-group-plc--cnct-/rns/post-close-trading-update/202010010700066904A/ 2xEBITDA is well within the range of acceptable leverage for a listed corporate (3x is toppy, 4x for a event that spikes leverage on a short term basis). I'd fully expect there to be no issues getting that refinanced. FWIW, taken private, they'd easily get 4 to 5 x leverage, ie between £160 to £200m of debt. And yet at a mkt cap of £65m, equity is on c. 1.6x EBITDA! JakNife
jaknife
21/10/2020
12:32
So they are all comfortable that the refinancing will be achieved without dilution?
kazoom
20/10/2020
14:00
at least one did
robow
20/10/2020
13:46
And in the nicest possible way did any of the panel hold shares in CNCT?
cc2014
20/10/2020
13:20
The panel were pretty positive about Connect at Mello Monday last night with three saying 'buy' and one 'loading up the truck'
davidosh
14/10/2020
11:23
Contract last time around was worth £213million It wouldn’t have included the value of I newspaper at the time which is included in the latest contract
newshound1
14/10/2020
07:13
What was the last version of that contract worth?
fenners66
13/10/2020
08:55
Another brick in place for the refinancing.
spooky
13/10/2020
07:58
An important contract renewal, hopefully at a good margin.
this_is_me
13/10/2020
07:56
Nice contract
babbler
12/10/2020
14:20
It first broke out of its trading range at the start of the month and has been going up since so it is not a sudden tip inspired jump.
this_is_me
12/10/2020
08:37
tipped over the weekend?
robow
07/10/2020
17:04
Hope you're right
baracuda2
07/10/2020
16:48
It looks like a proper breakout now. Possibly 30p by the end of the month.
this_is_me
05/10/2020
16:46
profdoc...Would you like to introduce the company to the panel and of course the audience at the next BASH? There will be over 300 attending. www.melloevents.com
davidosh
05/10/2020
16:43
I see it slightly differently, they have broken out and then retraced to the breakout point. All fine, but everyone is waiting for the refinancing details which must be imminent.
spooky
05/10/2020
16:02
Suspect this one will need a few Mello's and alot more! Even with the derisory rating, the interest isn't there to make it even slightly less derisory. Will keep watching, but a few of these about which look interesting but the market isn't batting an eye lid on decent/good updates.
sphere25
01/10/2020
15:44
Excellent idea David
profdoc
01/10/2020
13:41
This would be an excellent company to run by the panel at the next MelloBASH on Monday 19th October so I will propose it as a candidate. www.melloevents.com
davidosh
01/10/2020
12:30
Looks cheap, even relative to historically low multiples. Clearly alot of doubt and bearishness baked into the price here. Interesting chart currently showing a breakout but a very lumpy and illiquid one. Have been watching this one for a short term breakout play but it usually gets sold back down. Will that statement change anything? Volume is light at the moment and not suggesting as such, but will be watching to see if bigger buyers come in. That could be the signal.
sphere25
01/10/2020
10:51
Adjusted EBITDA for FY2020 of GBP38.5m to GBP39.0m on a company valued at only 53m and net debt at FY2020 year end expected to be circa 2X EBITDA prior to the repayment of the Tuffnells working capital loan of 6.5m. This has got to be one of the most undervalued companies around. It could nearly buy back itself with full year profits on this scale. Re-evaluation due anytime soon but being a small company probably off the radar at the mo.
schofi2
01/10/2020
09:46
If a company can make over £20m after tax then, even if the income declines by £1m per year, it is still worth a multiple of the current market capitalisation. Even better is the record of income from Smiths News - it has remained much the same for many years (courtesy of cost savings off-setting revenue declines of 3-5% per year). Here is the operating profit history of Connect News: 2012: £39m 2013: £40m 2014: £42.9m 2015: £41.4m 2016: £40m 2017: £40.4m 2018: £35.9m 2019 (includes DMD income this time): £43.6m The figures exclude the impact of the Pass My Parcel blunder. The are after allocation of share of central overhead. But they are before deduction of finance expense which amounted to about £6m - £7m per or tax (say £8m). Interest expense in the future is likely to be much lower than in the past when debt was £120m or more through the year (depending on the part of the month). To be conservative, despite the evidence of stable operating profit in this division, I'll assume that both revenue and profit after tax will decline 4% year on year from this point forward – there might be an sharper fall in newspaper/magazine consumption in future. I'll also assume that the after-tax profit for SN is expected to be about £2.5m lower in the year to August 2020, i.e. £26.2m - £2.5m = £23.7m. The calculation of the present value of the profit generated by SN, assuming a required rate of return of 8% on a business of this risk, is: (£23.7m x (1 – 0.04)/(0.08 + 0.04) = £190m or 77p per share. This compares well with the MCap of £55m. If the managers continue to find cost savings to offset volume declines such that the annual profit after tax stays at £23.7m, the valuation estimate is: £23.7m/0.08 = £296m or 120p per share, 5 times the current share price. Given the strong barriers to entry in this duopolistic industry, power over both publishers and retailers and high cash generation I'll stick with this company for a good while yet. Revenue growth would be nice but it is not necessary for valuation purposes.
profdoc
01/10/2020
08:21
They have been calling this a dying industry for years now and still it ticks over, ok you may never make a fortune I guess but you could pick worse
hotdawg
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