Share Name Share Symbol Market Type Share ISIN Share Description
Connect Group LSE:CNCT London Ordinary Share GB00B17WCR61 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.90p +2.85% 32.50p 38,432 12:06:35
Bid Price Offer Price High Price Low Price Open Price
31.90p 32.50p 32.50p 31.50p 31.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 1,594.30 34.20 11.00 3.0 80.3

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Date Time Title Posts
16/10/201815:14Connect: New name, refocused strategy1,275

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Connect Daily Update: Connect Group is listed in the Media sector of the London Stock Exchange with ticker CNCT. The last closing price for Connect was 31.60p.
Connect Group has a 4 week average price of 30.45p and a 12 week average price of 25.95p.
The 1 year high share price is 119.80p while the 1 year low share price is currently 17p.
There are currently 247,159,565 shares in issue and the average daily traded volume is 456,423 shares. The market capitalisation of Connect Group is £78,349,582.11.
colonel a: The share price has tanked. Iff this TU is telling it like it is they should be able to announce a modest {2p say} dividend next month with a plan that starts paying down debt slightly next year and then more aggressively in 2020 when the one off costs are cleared and they no longer have to cough up £4 mill per annum on the pension deficit.
scobak: We are going to be in for a terrible next few months in the share price hastened by the rapid closure of Pass my parcel. All the costs will necessarily be bundled together. If we are aware of that then it will not come as a surprise and we can ride it out in the full knowledge that we will come out of it sooner. Also means that when the S/P tanks we can take full advantage. Keeping my powder dry for now.
wacker101: The share price fell to 26p in mid August which is exactly a 50% drop from the 52p in June when the 2nd profit warning was announced. Probably well oversold now. Also, current buyers of the stock are probably being attracted to the dividend going forward. Despite a huge cut it may still be 2p to 3p per year. The share price is getting to a fairer price but it will be interesting what happens around 39p which is 50% retracement from the lows.
mitch74: Great spot cw2000. Just read about this at hxxps:// So there is one issue down and presumably money saved on shutting those operations: that is clearly a positive. I am having to suppress my enthusiasm with CNCT at the current share price TBH.
cs44: I hope that I'm wrong but the market, via the share price, is suggesting that this company is heading for administration. I see that Aberforth has been adding and now own a fair chunk, perhaps they can see value here. Any thoughts?
aleman: The question is why CNCT is not being taken out by a competitor. Keep the cash cow newpapers and magazines. Close PmP to eliminate losses and competition. Rationalise Tuffnels. There ought to be loads to be made at the current share price for the right bidder. Maybe they're just waiting for the shares to stop falling so they can get the lowest price. £45m-50m EBITDA plus synergies for £130m plus bid premium. Should be queueing up to bid.
kenmitch: Chickenvindaloo. A very helpful post. Thanks. I've just looked at your earlier posts about Tuffnells and the results show how right you were. And you even feared the share price falling to around 50p as a result. Wish I had seen/taken more notice of your earlier posts. I still hold Connect but am pondering selling out. Their turnaround plans sounded woolly so presumably unless they sell the business things are going to get worse rather than better, as Management sound incompetent. A real shame for people like you who work there and presumably a danger of job losses too if things don’t improve. For shareholders (we’re lucky as unlike for you the only worry for us is the share price) the question is whether the bad news is priced in now. The PE is very low and they’ve held the interim dividend. Even if they were to halve the final the yield would still be very high. Do please post again, especially if any hint of things getting any worse, or (sounds unlikely) better.
kenmitch: True, and a cut is likely. Guessing about 50% cut. Share price reaction to that depends on results news and especially the outlook. If results OK and Outlook more promising the share price could well go up even with a halving of the dividend. But better still would be good results, good prospects and a maintained dividend. Share would rocket (16% dividend!)if that happened. Tomorrow is going to be very interesting. EDIT. Missed out worst case! Poor results, bleak outlook and dividend cut or even cancelled. Will be cutting a loss if that happens!
aleman: Off the top of my head: Private equity via cash shell carrying losses. Operating cashflow preworking cap £60m. Close PMP makes £65m. 1/3rd premium bid to current price, funded by £200m debt to buy CNCT plus existing debt = £280m. Interest £20m. Tax £0. Capex/depn £9m. Free cashflow £36m to pay down debt or make aquisitions. Might be feasable. Somebody with £280m cash and tax losses would save £20 interest and get £56m free cashflow. With £280m cash but no tax losses, they'd pay £8-9m tax, so £47m free cashflow. Tempting all ways around, even allowing for some attrition of newspapers and magazines. The shares ought to be rather higher. The discount suggests the market does not have great faith in the boards ability to utilise cashflow wisely. Perhaps shareholders should insist it is all paid out to them and forget expanding the business. £65m -£5m interest -£9m tax -£9m capex, leaves £42m for dividends. We get current share price back in nearly 4 years - a bit longer with dividend tax - and what's left over is value in the business not reflected in the current share price.
speedsgh: Connect still a ‘buy’ despite profit warning, say Shore Capital - HTTP:// Investors in parcel delivery business Connect Group (CNCT) have been hit by a profit warning after a long list of failures but Shore Capital still believes the share price is justified. Analyst Martin Brown reiterated his ‘buy’ recommendation on the shares, which were trading at 74.5p yesterday, down 29% after last week’s warning. He said the recent profit warning and ‘stumbling block’ in the sale of Connect Books were ‘yet another blow to investors’. Connect had been due to sell its books division to Aurelius, but announced last week the German investors had pulled out of the deal. ‘We recently commented that while we agreed with the new strategy of focusing on early distribution and mixed freight, the long list of strategic failures over the years meant we believed investors should wait to see some delivery first,’ he said. ‘A cut to profit before tax guidance was not the delivery we or investors were looking for. Connect’s diversification strategy has now failed to deliver on all fronts.’ However, he added that ‘in terms of the share price, the reality is that the current price can be justified by the core news and media business alone’.
Connect share price data is direct from the London Stock Exchange
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