Trinity Mirror Share Discussion Threads

[smicker] 04/10/2017 00:16

Unfortunately the company have been reactive with their provisioning which has resulted in ever higher figures. Until that cycle ends i can see the weakness around court decisions continuing.

[kazoom] 03/10/2017 21:28

I would surmise that the share price may have reacted to the Coogan ruling, but in reality at a "six figure sum" I'm pretty sure that will be covered within the recent upgrade to the provisions.

So I'd say that was an over reaction.

We're dogged holding around the recent lows, but I'm struggling to see a justification for that. The last update was more negative than we have seen for a while, but I still think doom and gloom is well overdone here.

[twixy] 03/10/2017 17:27

From the earlier RNS, looks like Schroders added the best part of a million shares.

[bc4] 03/10/2017 13:25

Well that is another one out of the way

[smicker] 03/10/2017 13:09

The share price has always seemed to be under pressure coming up to court case decisions. Not good

hxxp://www.pressgazette.co.uk/trinity-mirror-agrees-six-figure-phone-hacking-payout-to-steve-coogan/

[gfrae] 03/10/2017 08:43

Private Eye says deal agreed for a reported £130m.

[freddie ferret] 02/10/2017 16:36

Wondering on the Northern and Shell negotiations.
One interesting aspect will be editorial policy.
The Express and Mirror are rather different.

[cjohn] 02/10/2017 08:40

They've already done it.

[cityconindex] 29/9/2017 16:10

Seems they did something with the pension scheme. Can TNI do anything simular?

[smicker] 27/9/2017 21:58

some hope for the strategy?

[gfrae] 27/9/2017 11:35

See there web site: "investors".
It hasn't been changed .

[bc4] 27/9/2017 10:14

All it was I thought you had heard something different no probs

[cityconindex] 27/9/2017 09:35

bc4 chill look at the post 2 above mine. I also thought the same as you.

[bc4] 27/9/2017 08:25

What do you mean brought forward last years was the end of September

Trinity Mirror PLC

30 September 2016

Trinity Mirror plc

Trading Update

Although the trading environment has remained challenging during the third quarter of the year, our continued focus on growing digital revenue and driving efficiencies, provides the Board with confidence that profit for the year will be in line with market expectations.

[cityconindex] 26/9/2017 19:29

Update moved forward interesting, end of phone hacking and closed deal.

[gfrae] 26/9/2017 11:31

Trading update 9.10.17.

[freddie ferret] 22/9/2017 17:37

Interesting.

[bc4] 21/9/2017 15:43

There will be a trading update next week let us see what that brings, do not forget this company still making decent profits

[gfrae] 21/9/2017 15:41

Personally, I am ambivalent whether they buy in their own shares or other assets,and believe that the management are best placed to evaluate, and I am assuming that when they evaluate what to do they take into account the extra payment to the trustees.
On a p/e of less than 3,more if you want to add the pension fund deficit,the shares appear good value,and at these prices the market appears to agree with you that digital prospects are not very exciting.
When or if they buy the Express or other assets I hope they use debt and do not devaluate their paper.

[cjohn] 21/9/2017 12:24

Ok, thanks for expanding your remarks.

Should they be waiting then and picking up assets that are more obviously distressed?

Or wait, for example, till their own share price is firmer - ie above the average buy back price - then use their own paper in any takeover.


The underlying problem is that TNI management don't have an organic solution. I realise there are still PI believers in the potential of digital here. But their belief is contradicted by the facts. The digital growth rate at the most recent results was in the mid-single digits.

Buy backs in lieu of a transforming acquisition reduce the capital base and increase the load of déficit per share. And unless they aim to buy back and take the company private, it's not doing anything to ensure the future of the company. It's a distraction, in lieu of a strategy.

I'd love the extra cash on the balance sheet, to be honest, and it pains me to see the accompanying over-payments disappear into the maw of the pension funds.

[gfrae] 21/9/2017 12:06

Hi CJohn, only your point that they are "wasting cash on buybacks". Otherwise, I agree with you that they can be the consolidator of the sector, but the benchmark of value,in my opinion, should be their own paper (shares).
Eg. There is no point in buying Express at a considerably higher price than their own paper is valued at. However, I also understand that there are many ways of valuing assets and that a premium has to be paid for control. In this case, I think that they are more or less making the correct judgement of buying in their own cheap paper,whilst waiting for any good opportunities to appear.
At least they are making the correct decision for current holders, if I were looking to buy TNI shares at lower prices,then I would fully agree with you !

[cjohn] 21/9/2017 12:01

I should add that even - sometimes especially - when I own shares I will be found making pessimistic and critical remarks about the company.

In part, this is because I have a cheerily pessimistic outlook - realistic often- and it has served me well up till now in investing.

But also why should one shut down one's brain and become a blind believer in a oompany simply because you are a part owner. One sees this all too often on BBs but it makes no sense to me. Companies are run by human beings. Human beings are highly fallible and constantly make errors. Ownership shouldn't blind anyone to that.

And then the sort of companies I invest in are frequently beaten down in price precisely because of management error or lack of foresight leading to problems and hence very cheap valuations.

[cjohn] 21/9/2017 11:28

Hi Kazoom,

thank you for your supporting remarks. I always read your posts with interest, particularly as we frequently disagree and you make many sound points.

I had a very large holding of TNI shares bought some 5 years ago. I sold out a couple of years or so later when the shares were over-valued in the 200s. TNI is on my watch list because I may put money in again, but also because it's an interesting valuation case. Currently, it seems a quite complicated share to value, so I'm on the sidelines.

I'm always amazed at posters who can't handle a different point of view to their own. What is the point of coming on BBs, if you only want to read posts that repeat what you already think? You will learn nothing from that. It's only by discussing and disagreeing and listening very carefully to anyone cogent and informed, whatever their stance, that you do learn. That's why I come on BBs - well apart from the fact that I live abroad, in a country where full-time private investors like myself are few and far between.



Hi Gfrae, obviously the price paid for any company acquired is critcal. No-one thinks otherwise. Who are you arguing with?




regards CJohn