Reach Share Discussion Threads

[harry_david] 29/7/2023 18:06

gfrae, they are interested and refused to answer when directly asked after the news broke. (FT)

[john09] 29/7/2023 14:47

Did everyone see this. Quite the trio of name drops

“ We've made good progress on the development of curated marketplace revenues, signing new data partnerships with Google, Microsoft and Amazon. The Google Ad Exchange agreement is the first time that publisher data has been used to enrich the value of ad slots on the open market, while the Amazon deal makes Reach the first external partner hosting ads with first party data signals on behalf of the site's own ad sales operation. ”

[gfrae] 29/7/2023 13:37

Will Rch bid ?

[john09] 29/7/2023 12:40

Goldman sachs to lead auction sale of Teelgraph Media Group in The Times

£450m - £600m expected

[sailorsam1] 27/7/2023 14:18

Agreed. All about the pension

[dougmachin] 27/7/2023 13:49

Ah, this is what I was looking for, regarding my pension questions:



Slides 9 and 10.

At the end of slide 9 - Committed Forward Pension Payments:
- 2023-2025 is 55.6m
- 2026 is 56.7m
- 2027 is 54.7m
- 2028-2029 is 8.6m

A slow 4-year burn, but after that, the cash this frees up is game-changing.

Slide 10 is very interesting. Considering the pension deficit in 2020 (314.4m) went back above the 2012 (297.7m) figure, the current 2023 H1 figure of 141.2m has got to be encouraging.

2-3 years is not everyone's time frame! But surely RCH's share price is going to do very well over this time frame.

[simmsc] 26/7/2023 23:18

https://pressgazette.co.uk/media_business/reach-half-year-results-2023/Nicely summarised

[dwnash1] 26/7/2023 16:21

Well we can't grumble at these past two days,,put a smile on my face,,

[100egs] 26/7/2023 09:38

Barclays raises Reach price target to 87 (75) pence - 'equal weight'

[dougmachin] 26/7/2023 04:29

I think the business seems to be doing Ok. The issue with FB is now out there.

A lot of positives for the business going forward.

Also, 2 main 1-off costs, [1] legacy legal issues and [2] severance pay due to restructuring to reduce costs.

It's the pension that I still find unclear - How fast are those contributions going to go down??

Decrease in accounting pension deficit

The IAS 19 pension deficit (net of deferred tax) in respect of the Group's defined benefit pension schemes decreased by GBP7.5m from GBP113.9m at year end to GBP106.4m at the half year. The increase in the discount rate and Group contributions has been partially offset by reductions in asset values. The triennial valuations for funding of the defined benefit pension schemes as at 31 December 2019 have been agreed for five of the schemes, with one scheme outstanding. We continue to work with both the Trustees of the one remaining scheme and the Pensions Regulator. The process to determine the 31 December 2022 valuations has now commenced.

During 2022, the Trustees of the Express Newspapers Senior Managers Pension Fund purchased a bulk annuity (at no cost to the Group) and the scheme now has all pension liabilities covered by annuity policies. In 2021, the Trustees of the West Ferry scheme purchased a bulk annuity and the scheme now has all pension liabilities covered by annuity policies. Group contributions in respect of the remaining four defined benefit pension schemes in the first half were GBP23.3m (2022: GBP23.0m) under the current schedule of contributions. Contributions in 2023 are expected to be GBP55.8m under the current schedule of contributions for the four schemes.

How fast are those contributions going to go down?? Someone posted a comprehensive article a while back about this, I will try to find it. Also, I need to watch yesterday's RCH presentation still, so maybe it was covered there...

[fewdollarsmore] 25/7/2023 16:34

I will take that for today, let's see if the momentum continues this week..

[blackhorse23] 25/7/2023 14:28

Added HVO Today. https://www.investorschronicle.co.uk/ideas/2023/07/25/a-13mn-deal-adds-to-hvivo-s-record-order-book/

[john09] 25/7/2023 13:34

Its actually believe it or not a technical break in the downtrend line since early 2022 too btw

[dougmachin] 25/7/2023 11:05

What a result. I can hardly believe my eyes.

[john09] 25/7/2023 09:59

Nor was i. Not complaining ! That must be us bottomed now H2 weighted and comparables easier. That must be the bottom

[twixy] 25/7/2023 09:57

I stand corrected - I was not expecting that positive reaction

[john09] 25/7/2023 09:52

Has there been a SWCSW tweet ? I dont follow

[john09] 25/7/2023 09:51

Brilliant to be off and running. Must confess i was expecting the worst when i read the statement but this is great