Thomson Intermedia Share Discussion Threads

[diogenesj] 18/10/2006 10:00

Yes, wish they wouldn't do that (change of year end). Messes up the comparative figures. As you say, tax will hit the earnings hard at some point.

[wjccghcc] 18/10/2006 09:53

Yup. Everything on track. Renewal rate 90% and they've pretty much tied up the regional market. Contracted revenue up to 5.7mm.

The Newslive product looks interesting and will quickly replace the print-based competition IMHO. Also nice that the US is now profitable, particularly when you look at the average contract size which is significantly bigger than Europe. Their UK products have great scope for international duplication - the US could ultimately be huge.

On the downside, at some point they'll start paying tax and the German jv moves from a license fee basis to a profit-share basis from 2007 so hopefully it will hit breakeven by the end of the year.

Billetts was clearly a very astute acquisition. Current PE now 19 dropping to 14 next year (although they are changing their year-end from Jan to Apr).

[green sand] 18/10/2006 09:47

Day job getting in the way of having a good look. First glance looks OK, however they have a bit to do 2nd half. Need to read, especially re the new products, always a long term punt.

[diogenesj] 18/10/2006 09:35

Usual excellent results today.

[wjccghcc] 13/10/2006 16:06

You're completely right. Would help if I could count :-)

[green sand] 13/10/2006 15:25

Agreed WJ, I have no interest in YOU. Not topped up THN, but have held on to the original chunk from 2 years ago, doesn't time fly when you are having fun:-)

Thought results were Wednesday 18th?

[wjccghcc] 13/10/2006 14:48

Well I gave in and bought some more a few days ago at 221p. Results on Thursday.

Personally I'd take THN over YOU any day - higher barriers to entry and the fwd PE is about half - but that's just me.

[green sand] 13/10/2006 12:34

Little Foolish comment re Tesco & THN

[green sand] 29/9/2006 09:27

They are trying hard WJ, getting close, might just join you with a few more

[green sand] 25/9/2006 14:49

Point taken WJ, big moves away from traditional media advertising, growth in digital and direct media significant at 20%+ during Q1. All good grist to the mill.

[wjccghcc] 25/9/2006 14:41

Is total advertising really getting tight? Isn't it more that it's becoming a lot more fluid in how it's allocated - direct marketing, internet etc. As you say, this makes THN information even more valuable.

I added a chunk at around 200-205 and happy to add more if this treeshake gets it that low again.

[green sand] 25/9/2006 14:37

Interims due early October, advertising industry getting tight, spend is down, makes using THN systems more essential. Chance to see how the Billetts integration is going, a tree shake could be expected, and there again....?

Good Luck

GS

[diogenesj] 27/7/2006 14:04

Lol, hi GS, I know how it is. :-)

[green sand] 27/7/2006 13:39

Eh up DJ, had to move a few around the family, tax purposes you know:-)

Have Fun

GS

[diogenesj] 27/7/2006 12:36

Institutions shuffling holdings amongst themselves, I expect. There should be an RNS shortly.

[jeff c] 27/7/2006 11:45

Some very large trades yesterday, totalling 2 million shares – all at the offer.
That's a whopping 6.5% of the 31 million shares in issue. But no change in share price.
'Wonder what that was all about?

[green sand] 30/6/2006 10:58

Thanks Jeff C, good find. Been waiting for more news on the Trinity Mirror contract. It will be intresting to hear about the agencies reactions, it has got to be good.

[jeff c] 30/6/2006 10:41

Interesting bit of news (especially last paragraph):





Trinity Mirror to roll out regional e-voucher ad scheme

by Alex Donohue Brand Republic 29 Jun 2006

LONDON - Trinity Mirror, publisher of the Daily Mirror and The People, is to roll out an e-voucher advertising scheme this week across its 240 regional newspapers, which should eventually allow agencies to replace the old-fashioned method of vouching.

The scheme will provide online verification for advertisers of where and when ads will appear in the newspaper, which Trinity Mirror says would be more cost and time efficient than the traditional print vouchering system.

Trinity Mirror, which is using Thomson Intermedia's vouching technology, claims it is the first regional publisher to trial the online verification programme that it now intends to rollout to advertisers across its entire regional portfolio including the Birmingham Mail and Liverpool Post & Echo.

The publisher said the move to e-vouchering marked a change in the industry's approach toward publisher-client relationships, and would ultimately make it easier for advertisers to track the success of press ads.

Gary McNish, managing director of Amra, Trinity Mirror's national sales operation for regional press, said: "We pride ourselves on being at the forefront of developments in the regional press, and the introduction of e-vouchering across our portfolio is another example of that.

"It's a significant investment in improving our service and making life easier for clients and agencies."

Paul Kemp, director of Thomson Intermedia's press division, said: "This is the start of a change of initiative within the industry and an exciting development for their business. Agencies are looking forward to replacing the old-fashioned method of vouching with this new electronic offering and I believe their customers will quickly see the difference."

[green sand] 30/6/2006 08:46

Anybody got a date for the AGM? 5th July last year. I have not looked through the history but I recollect a promise of new, innovative products to be launch second quarter (half?). AGM could be a good platform for a launch?

Good Luck

GS

[mradford] 29/6/2006 19:40

Thanks for the reply WJCCGHCC (was busy watching PRM go up and then down yesterday and today). I'll maintain a watching brief for now I think.

[wjccghcc] 28/6/2006 14:29

No mradford. Just been a shareholder here off and on since the 50p days so have followed their development for a while with interest.

IMHO, THN are a well-positioned company with good management in a fast-growing sector with global potential and that's not that common at these price levels. Of course, there are potential roadbumps ahead and the integration of Billetts may throw up a few management issues but they seem to have been very measured with their approach so far.

[mradford] 28/6/2006 12:57

WJCCGHCC,
You seem quite clued up on the market and industry and the forthcoming focus on the US. Do you work within the industry itself?

[wjccghcc] 28/6/2006 12:42

I've been buying back into these the past few days at around 200p. Shareprice has gone nowhere for 18 months while the underlying business development has been very impressive IMHO. They seem to be solidifying their position as UK market leader in media information with the benefits of integrating Billetts still to come.

I suspect the German jv inception didn't go quite as smoothly as planned but they're still guaranteed a 400k fee this year before the profit share kicks in in 2007, by which time it should be profitable although not enough to compensate for the fee (for that year anyway). But given the size of the German market and the increasing revenue as their trend data collection period lengthens, it's definitely the right move IMHO. I'd expect them to learn from the process for expansion into other European countries in the next 1-2 years.

The USA will be very exciting now that John Billett can focus exclusively on it. The UK leads the world in media monitoring so it will be interesting to watch the developments here.

A current year PE of 17 dropping to 13 seems to undervalue the progress here IMHO. The only negative I can see is that the tax losses will run out within the next 2 years so EPS may plateau in 2008/9 as they move to a normalised tax rate.

[jeff c] 04/5/2006 11:17

Just a little bit of news about a job promotion regarding the merger with billets (which all seems to be going very well).





Pearch promoted to Thompson commercial director

Media auditor Billetts Media Consulting has promoted former chief executive Andy Pearch to commercial director of parent company Thompson Intermedia Group.

Simon Cross, former Billetts global technical director, will take up Pearch's previous responsibilities as managing director.

Cross has been at Billetts for eight years and during that time has managed many of the largest assignments awarded to the company and taken responsibility for all media auditing systems throughout the network.

Cross' appointment follows the recruitment of two new Billetts team leaders, Cheryl Williams, previously senior consultant at Media Audits, and Ian Anders, formerly head of broadcast at Mediaedge:cia.

From his position as UK managing director of Billetts Media Consulting, Tony Squires will move up to be Thomson Intermedia systems managing director.

Commenting on the changes, Pearch said: "Billetts and Thomson Intermedia are excited about the commercial opportunities that face us as we combine our resources. Together we are ideally placed to develop our market-leading position and to step-change the media consulting category, providing an even more relevant and valuable offering for existing and prospective customers."

Mark Banham



Created by Robin Parker
Publication Date 2006-05-03 4:04 PM

[wjccghcc] 03/5/2006 08:46

I'll have a look later GS but did you strip out the increased royalty fee from Germany which drops away in 2007?