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It looks like the panic of the last couple of weeks has calmed down and so we can look more at the fundamentals. I declare my interest - I have invested over £250K in this over the last couple of weeks (basically nearly all my pension) - starting at £9.80 and buying all the way down to 8.58 so you might think this is ramping but I certainly hope not! The prices they got for the FT and Economist were outstanding - the earning on these (especially the FT) were low and so taking the money and paying down the debt to zero will be earning enhancing for 2016 and beyond In addition to this it seems inevitable that they will sell their stake in PRH at the right time and at a good price (they have no need to rush it and will wait until they think all the synergies have been achieved in the merger) Therefore they have a massively strong balance sheet, a number 1 position in their sector and decades of history with all the knowledge , contacts and relationships that implies that they can leverage. OK the digital transformation hasnt kicked in as quickly as they hoped but it is surely inevitable and as the number 1 educational company in the world they are massively well placed to take advantage of it. While the price per textbook/course or whatever in a digital world may be lower per copy (good for budget holders) the marginal cost and of producing and delivering is effectively zero so it is more than feasible it is a win win for customers and is relatively easy to sell into previously unexploited markets. In addition the stronger dollar with likely Fed rate rises will mean their earning in Sterling are enhanced with the majority of sales being in the US. All this and a PE ratio of just 12 !! I expect the market to be pricing this at £10 by end of year and potentially £16-18 in three or four years time - just in time for me to retire !!!
FT was sold for £844 million, and The Economist was sold for £469 million Not sure when they receive the funds though
I've been following this since the fall. Tempted now been waiting for a move up. They sold the FT and was it the economist? Does anyone know when they get the funds and how much. Read they got a good deal.
Could well be here come tomorrow - think we saw the bottom today - gla holders
And there was Raife suggesting anyone disagreeing with 1200p in a few weeks was "spreading gloom". Incoherent fool.
Well I can't take no more of this and I out at 25% down in just over a week on an ftse 100 ,crap.
So when the director dealing was announced on Friday, he was obviously excercising his share options before leaving..... Clever
Raife, what is in my post that spreads "gloom". Do you honestly think this is going back to 1200p in the next few weeks and that anybody who disagrees with that is spreading gloom? You are incoherent.
the BoD seem fine to me..... John Fallon made a bold step selling the FT and The Economist, his predicessor Marjorie Scardino said she would sell the FT 'over her dead body'. There are a lot of markets which have slowed incredibly, and its taking time for these to get back on track. If you invest now, at its low point, there is money to be had, but not if you expect it in a matter of weeks.
Well I think I will take your advice and remove this from my portfolio and leave alone for a while.
I have just topped up at this price. There is no indication that the dividend will be cut so just relax and take the dividend for now. It will be back up over 10000 before the end of the year. The RNS stated sales at lower end of expectation thats not that bad and I believe that the sell off has been over done. Not looked yet but you may find a lot of the price movement has been down to shorting so in my view take it as a buying opportunity and if you look at the trades I am not alone in this.
Your busy, spreading gloom on GLEN and now this BB.
I pulled most of my funds from AIM to put in this,boy am I sorry,even the ftse 100 sucks.
Sorry but that is a ludicrous suggestion - "...will be back up at £12 again in the next few weeks". It has to move 33% to do that. If you look at the earnings miss guidance, this has been disproportionately savaged which can only mean the investment community has little faith in BOD.
Well that's very good news shame the sp not reflecting is buy as there are more buys than sells yet sp continues to be down,it's well over 20% down for the week now which is madness as the interim RNS was not bad as it only forecast about 8% drop and the director buying light is now on,thanks.
I work for Pearson, Glen is the Chairman of Pearson plc
Well the rns has stopped the rot and it's going back up slowly.
Is he a director as deal lights not flashing but it says director on rns,someone please put me right.
Direcetor buy,maybe it will stop the rot.
That just happen - could not resist at £9 a bargain as I know this will be back up at £12 again in the next few weeks
When will this stop as its starting to get a bit stupid now with the value of the company plus the divi they pay.
Taken out by the MMs large buys to fill - divi is amazing those that got in now
Why the f..k is this behaving like an AIM company,16% down yesterday and 6% down so far today,not happy watching my ftse investment plunge.
Now very cheap and offers a divi close to 6%
good interview with the ceo.http://video.cnbc.com/gallery/?video=3000407034