Connect Share Discussion Threads

[meijiman] 13/6/2018 08:41

If Cashmore had been hired with a mandate to wreck the company he couldn't have done a better job.

[morgank] 13/6/2018 08:37

Playing Russian Roulette buying today

[the_boy_plunger] 13/6/2018 08:36

they wont (let u buy the lo) they fleece em off to their insiders to play the pivots
close above 28s required......(its the only thing that will tell u.....the minority knows

17s > 28s a fair trade?!
take no notice of small talk, price tells all?!
good luck all existing holders....

[mister md] 13/6/2018 08:34

Sold my small holding at 27.3

[citytrader66] 13/6/2018 08:34

i couldn't buy. i got a quote at 20p, click to buy but didn't go through. was in auction several times. next minute its in the mid 20s. MMs just open price at whatever they want to.

[mister md] 13/6/2018 08:29

Indeed hard to value now. Saw a sell at 16p, minutes later the selling price is 26p

[edmundshaw] 13/6/2018 08:27

Punt is a reasonable word. Very hard to value with any precision at the moment, with unknown levels of provision for Tuffnells and the breakdown of PMP. Given the books fiasco, I am not feeling confident in the prudent contract-writing skills of our ex-FD.

[the_boy_plunger] 13/6/2018 08:20

17s is trend low n close above 28/30 would assist

like clockwork thru pivots?! to 28s n coming off?

[nigelpm] 13/6/2018 08:18

Definitely worth a punt below 25p - and it is only a punt I'd add. Huge risk here.

[morgank] 13/6/2018 08:13

I don't think so div cut, losses going forward, debt, luck to survive unless a cheeky take out comes along , maybe wincanton

[nigelpm] 13/6/2018 08:11

17p - wow.

[owenga] 13/6/2018 08:11

Wow, must be worth a punt at these prices?

[aleman] 13/6/2018 08:10

Market cap now 1 x EBITDA. Debt not excessive so can be paid down with dividend cut. Stupid reaction.

[edmundshaw] 13/6/2018 08:10

Spec debt is not a problem per se. There is still a healthy cash cow in there...

[edmundshaw] 13/6/2018 08:09

There will also have to be a change of management and strategy in Tuffnells.

[spectoacc] 13/6/2018 08:07

@Aleman - and the debt?

[edmundshaw] 13/6/2018 08:06

Agreed Aleman. A 3p dividend maitained would be 6% yield even at 50p - the bit that worries me is the "onerous contract costs to be incurred in FY2019" - which we will not get to hear until the prelims (unless there is another statement in the interim).

[aleman] 13/6/2018 07:56

Sales of core newspapers and magazines remain in line with expectations

The core cash-cow business looks to be doing fine. Unfortunately, they have never been able to invest any of the proceeds with even the slightest success. At least they are closing PmP. Tuffnells could maybe be sold or sorted out. The bad news with these was already flagged in the last results so it's not really that surprising. With PmP closed and Tuffnells not making any money, there is still likely to be over £40m of EBITDA for a few years. A multiple of less than 3 means the shares have already discounted most of the bad news. They will fall of course but there is still plenty of cashflow there to pay a reduced dividend and they are already cheap enough to be a bid target. I'd like to see a complete change of the board, though. A bid might be the best way.

[citytrader66] 13/6/2018 07:39

spectoacc i take it you don't hold any shares here? 30p i guess is possible but not sure its likely. thoughts? sorry for any holders here this, long slow recovery ahead.

[zimbtrader] 13/6/2018 07:35

Complete exit from my holding methinks and oh so glad I reduced heavily earlier this year. Still going to be very painful...

[edmundshaw] 13/6/2018 07:35

Underlying business was very profitable. Then the board bought Tuffnells and in trying to cost cut badly damaged that business. Then PMP was initiated and when it didn't work - for years - the board seemed unable to admit they were wrong. And the sale of the books division now looks just an attempt to keep the gravy train going on a little longer...

Good recovery prospect, now that but there will be pain first.

[gaffer73] 13/6/2018 07:31

Bath time! Very disappointing

[grahamg8] 13/6/2018 07:25

Every new business initiative tried in recent years has failed. Quite rightly CEO and CFO have been sacked. About time to return to their roots and look at milking the news distribution cash cow and nothing else. At the moment this looks like the only way to give shareholders any value. Eventually the company would be run down but at least we would get some returns in the meantime.

[spectoacc] 13/6/2018 07:21

30p! You'll be lucky. Why would anyone hold it without the fat yield?

[wllmherk] 13/6/2018 07:17

Very disappointing, I hold a lot of these too. Sub 30p is my guess and reading the update I suspect the dividend may be axed altogether. The recent dividend to be paid on 6/7 hasn't been cut though, small comfort as the price will tank,

wllm :(