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Started: MANLSE12, Today 08:43
Last post: MANLSE12, Today 08:43
Press gazette
Passing of Digital Markets Bill welcomed by UK publisher organisations
The News Media Association, which represents UK national and local newspaper publishers, welcomed news that the bill has been passed.
https://pressgazette.co.uk/news/digital-markets-bill-passed-paving-way-for-publisher-level-playing-field-with-big-tech/
Started: 100egs, 20 May 2024 15:04
Last post: Ftsefan, 23 May 2024 08:17
Wish it would hurry up then
Posted on ADVFN.
DEUTSCHE BANK RESEARCH STARTS REACH WITH 'BUY' - PRICE TARGET 190 PENCE
Nice cup and handle forming along with a potential Golden cross, the 50dma just kissing the 200dma.
Started: Cityconindex, 16 May 2024 09:13
Last post: Cityconindex, 16 May 2024 11:19
Welcome Trust increased holdings in Rch so that's positive and after the dividend cut off time.
Such an impressive re-rate can't hurt the sector. Future definitely had overlapping challenges, like social media algos working against external media and explosion of competing content now any idiot can churn out endless articles with AI, so if market can look past that it's encouraging for Reach. On the other hand Future do have fingers in other pies like insurance comparison, whereas Reach traditional media only, so who knows.
Are Reach going to copy Future and pull a rabbit out of the hat?
Started: Cityconindex, 5 May 2024 07:46
Last post: NickRubens, 9 May 2024 16:31
Judging by the fall today, the market may think this might turn out be the last dividend for a while!
Wonder what happens now until trading updates arrive? The market gets nervous and bored very quickly.
I don't know what to think as I just trade it when lucky and bite my finger nails while holding it. Used to be a long term investor in Johnston Press, all the way to zero, so have a bit of a newspaper investment phobia.
Too late now but imo they'd be better off reducing or even stopping the dividend. I'm sure I was one of the few to vote against it. While revenue is contracting and cash going down, it's a bit mad. Especially with pension deficit, slow decline of print and uncertainties around future digital earnings.
I can understand why they're doing it though. It'll be the only thing keeping a lot of investors here. If they stopped it'd hammer the share price in the short term and CEO would find his strategy under a lot more scrutiny - especially from media rivals who like nothing more than to kick a competitor. Direct Line CEO being booted out shortly after stopping theirs will be a cautionary tale.
But carrying on as if everything is fine seems to just be kicking the can down the road.
Well, it's been a while since three figures. Mkt has fears this is slowly melting away. I'm 'guessing' it may now suffer from ex dividend lethargy in the month or two ahead, but who knows. Share trading/investing is like trying to predict the future and predict how 'other' investors or traders will behave. Long term investors with a bullish outlook here, just need to sit tight.
3 figures incoming IMO!
Started: dvs1, 2 May 2024 08:23
Last post: NickRubens, 2 May 2024 14:49
Update was good and potentially this could re rate if the market believes the current cost control/profits balance and dividends can be maintained for the next couple of years and then shareholder profitable growth resumes as pension issues are ultimately resolved once and for all. There is always the possibility that profitable bottom line growth can come in the next two years ahead anyway if the company grows it's online takings. The market decides.
Looks very promising indeed.
Good response to the update, big divi payout next week, all looking good
Started: 100egs, 19 Apr 2024 09:58
Last post: Scoobydoo321, 19 Apr 2024 10:49
Also, annual report stated - Trading performance across the first two months of 2024 has been robust, with print advertising and digital performing well and we are on track with our full year outlook but we continue to operate in an uncertain macroeconomic environment.
So, should be hopefully decent.
Wel the divi's have been pretty constant past couple of years and the price is low . Lets hope they know a bit more than we do , fingers cross Mullen gets a kick up the rear
Lombard Odier doubled their stake from 5% to 10% yesterday. Trading update on May 2nd. id like to think they know what's going on.
Started: MANLSE12, 18 Apr 2024 10:27
Last post: MANLSE12, 18 Apr 2024 10:27
Shorte has increased their commitment , why surely the only way if up from here now the divis are holding up let shope they go same way as a previous short when price when through the roof couple of years a go
Started: NickRubens, 11 Apr 2024 15:51
Last post: MANLSE12, 15 Apr 2024 08:28
Its profitable company run by a guy who hasn't a clue he should have stuck with the betting firm , rather than media because hes totally ideas vacant.
It's hard to tell if this company is not slowly sliding away out of business for it's current owners or steering itself to a future where current shareholders will still own and perhaps even benefit tremendously from it. The high dividend yield looks like a bit of a trap, though has held the last few years incredibly well.
Might even fall for the potential trap if it falls further. I'm always getting lured into what look like bargains. I used to own Johnston Press ( 100% loss), hence the trepidation.
Started: Cityconindex, 7 Mar 2024 12:17
Last post: Bowthorpe1, 6 Apr 2024 10:01
Wonder if Reach would be better off without the Daily Mirror whose stories seem i'll matched to it's readership
Love it the Lunatic board , John 09 been there for years and always been into Recah as have I nad still think we should be 3.65 mark but at least the next 4 years will bring home the bacon in the meantime take the divis
John 09 pointed out on the lunatics board adv that £18 million is being saved next year from pension contributions. Excellent
Where I do think management deserve credit, and I guess this is what market approved of too, is how they've largely maintained margins, and been able to generate a fairly decent operating profit, despite pressures on revenues.
They must have achieved this by cutting costs quite dramatically, possibly down to the bone in some parts. This is where it's probably useful they have an unsentimental finance guy in charge, rather than one necessarily with a news/media focused background.
The awareness of overseeing a business in long term decline must help, so they have to watch costs closely even at best of times. But they could have easily cut nothing and hoped for the best like we see in so many companies, which could have easily resulted in a big loss.
Quite pleased with those results, plus the added benefit of greater clarity on future Pension contributions. So for me it is a deep breath and hold until 2028 when the money comes more to us shareholders as opposed to the pensions. Wondering what the divis will be in 2028.
Few things stood out to me.
Print revenue down only 2% is almost miraculous given wider industry decline in circulation. Will have been helped by them ramping up cover price but I'm sure this is above expectations. Digital revenue down 15% much more problematic given that's future of business. Google and Facebook algos working against news pinned as cause, so maybe not all Reach's fault here.
Maintaining divi means shareholders will be happy, imo it would be better if they kept that cash on hand and not effectively get into debt to pay it, given wider pressures.
Pension deficit very much still in place as I mentioned previously despite a few outlandish claims about surplus that were made on here. £60m cost for pensions annually shows what a millstone they are. Statutory operating profit would be £100m without them. Still that part shouldn't really be news for anyone, this business has been weighed down by them ever since Maxwell went for a swim and never came back.
Started: Cityconindex, 5 Mar 2024 08:14
Last post: Cityconindex, 5 Mar 2024 08:14
Kept the Dividend in place, and closing 2 legacy issues in sight, Market seems to like it. I certainly do. GLA and with its link to amazon other whales hopefully will follow. Then there's always potential payments from FB and Alphabet legislated in law. Interesting times ahead.
Started: NickRubens, 29 Feb 2024 10:51
Last post: NickRubens, 29 Feb 2024 10:51
At this level it seems the market is expecting a profit warning with the results or something?
Started: MANLSE12, 28 Feb 2024 09:54
Last post: MANLSE12, 28 Feb 2024 09:54
News Media Association chairman Danny Cammiade believes legislation will come this year in the UK which could enable Australia-style deals between publishers and big tech.
In Australia and Canada the threat of legislation has forced Google and others to hand over licensing fees worth more than £100m a year to publishers in each territory. In the larger UK publishing economy, such deals could be worth much more.
https://pressgazette.co.uk/publishers/news-media-association-danny-cammiade-government-big-tech-tindle/
Started: Cityconindex, 26 Feb 2024 19:35
Last post: 100egs, 27 Feb 2024 09:35
The link wont open. good find though try this.
https://dailybusinessgroup.co.uk/2024/02/daily-record-owner-reach-sells-glasgow-hq/
So Reach have sold a massive site in Scotland and no mention of peice achieved. https://www.insider.co.uk/news/former-daily-record-headquarters-acquired-32176028. Any ideas?
Started: 100egs, 23 Feb 2024 08:01
Last post: 100egs, 24 Feb 2024 07:37
No details of the Amazon deal have been disclosed ,
more to follow soon hopfully.
That would be music, they did say the wanted a newspaper.
Anyone any idea if the Amazon deal can be replicated say with S4 Tesco Sainsburys etc? And what's the amounts involved?
Unfortunately AI is a problem for a publisher like Reach. It lowers the barrier to entry for journalism and allows any idiot to put up endless stories online, that's already happening and the competitive field for audience attention is increasing dramatically. Them using AI themselves is akin to admitting defeat, the USP is gone, nobody will pay a premium to read AI articles.
The one hope that remains here is that a media group like Future with the same challenges decides a bit of consolidation is what the industry needs and makes an offer.
Being able to write stories cheap aint going to bring in more subs , might save bit of cash on salaries , hes needs to go , lets see what March 5th brings and if we're not moving forward on the bottom line he can sling his hook , maybe he could try Poundland
Started: Cityconindex, 22 Feb 2024 15:21
Last post: MANLSE12, 23 Feb 2024 12:00
That's what annoys me about Mullen the Muppet , how long have we been shouting for something along those lines . Look at the New york Times they go get Wordle and boom subs go through the roof. March 5th will tell if there's no improvement in bottom line he has to go.
Said it 2 years ago, but still lacks the thrill element of monthly prizes, after all its a red top, people will pay more for the thrill of winning reasonable prizes, not toasters. Now inflation is turning down and hopefully interest rates to follow what a £5a month to be in the draw for cash prizes, which makes the difference.
Started: MANLSE12, 21 Feb 2024 12:04
Last post: 100egs, 21 Feb 2024 13:52
New premium app now available. launched yesterday
The share price is all down to the clown at the top , no actual ideas on how to add value to the bottom line Circulation on print is being crucified through lack of proper down to earth local news journalists. One Valleys Weekly sale is 388 it as over 20000 Not just this muppets fault admittedly, but he and a few useless ceo's previously who believed the be and end all was digital. Having sold advertising for them for over 30 years the 1980 -2010 .It had been a bit of Peter to pay Paul by splitting revunue of print to digital for it to appear digital was a growth area , in fact without the solid base of print Digital would have fallen flat on its backside. Now print has been squeeze to death unless a subscription for digital isn't implement soon kiss good bye to current profit
Started: Cityconindex, 9 Feb 2024 15:06
Last post: 100egs, 9 Feb 2024 15:22
Agree with you there. hopfully this can be a turning point goodness knows its been a miserable 12months here.
Hopefully all the sales out of the way and the trials will start to be finalised, some good news on the pensions and a maintained or increased dividend? First hockey stick for a long while.
Started: 100egs, 6 Feb 2024 09:53
Last post: idakaneis, 6 Feb 2024 12:40
Interesting podcast at the bottom of that page worth listening to. "Why Reach is upbeat about online ads despite the big cookie switch-off" https://shows.acast.com/623317507e51370012bc96c3/65b228c1ff93e90017dacfa3
From the ft yesterday courtesy of Masergt,
htTps://archive.is/TFJeV
Started: 100egs, 1 Feb 2024 09:24
Last post: 100egs, 1 Feb 2024 09:24
Small piece on reach go to 1.5.50
https://www.youtube.com/watch?v=Q3eaq_JlQ38&t=1s
Started: MANLSE12, 26 Jan 2024 08:45
Last post: 404x, 31 Jan 2024 16:47
More price sensitive stories appearing in media rather than RNS, this one definitely knocked market confidence
https://www.theguardian.com/business/2024/jan/23/mirror-publisher-print-titles-reach-digital
Https://pressgazette.co.uk/marketing/reach-digital-third-party-cookies/
at last someone taking a lead at RCH . reckon a divi of around 3.95 and rise in price to around 87 by end of April maybe earlier
Started: MANLSE12, 23 Jan 2024 11:33
Last post: MANLSE12, 23 Jan 2024 11:33
Going nowhere fast Please can we get someone in to lead the digital subscriptions and generate a new revenue source .Mullens time is up. Dec digital views weren't very promising. Go now.
Started: MANLSE12, 17 Jan 2024 10:48
Last post: 404x, 17 Jan 2024 20:37
Exactly, for MGN scheme alone last we heard deficit very much still exists and will not be cleared until 2028. There are 6 legacy schemes in total, at least one other (EN88) also in deficit as at last year's report. The last time we had an update on all schemes they gave projected date for deficits being collectively cleared as 2029.
Either they've preformed a miraculous turnaround and not informed the market or Press Gazette are wrong.
From Q3 UPDATE.
The MGN Pension scheme resolution
We are pleased to report that we have now concluded the 2019 triennial valuation for the MGN scheme,
and at the same time concluded its 2022 triennial valuation. The funding valuation of the MGN scheme at
31 December 2022 showed a deficit of £219.0m. This deficit is expected to be removed via a schedule of
contributions that includes annual payments of £46.0m pa from January 2023 until January 2028. The
previous schedule of contributions for the MGN scheme included payments of £40.9m pa from 2023 to
20273
. Discussions are ongoing with the Group’s other schemes in relation to the 2022 triennial valuations
and are expected to be concluded satisfactorily by the 31 March 2024 due date.
The pension deficit being cleared would be major news, if true why haven't they shared that information by RNS? I see also Mirror editor steps down, apparently shareholders don't need to know this either https://www.bbc.co.uk/news/entertainment-arts-67982234
Reach chief executive Jim Mullen has told staff there are currently no plans for further cuts this year after a difficult 2023 at the publisher.
He also said the end of the company’s longstanding pension fund deficit and a time limit on legal claims established by the Prince Harry privacy trial judgment were both good news for the business.
In an all-staff email on Tuesday afternoon, Mullen said the more than 700 job cuts that have taken place over the past year have left the business “structured for our digitally-led future”.
He also explained why page views are still key despite other publishers increasingly putting more emphasis on subscriptions and other engagement-focused metrics amid falling search and social referrals.
Started: MANLSE12, 17 Jan 2024 10:23
Last post: MANLSE12, 17 Jan 2024 10:23
And there it is the bottom , mullen must go now no ifs or buts he's not the guy to lead us forward. wouldnt be surprised if we were to get a buyer takeover . Onwards and Upwards from this point
Started: Ftsefan, 11 Jan 2024 08:45
Last post: Ftsefan, 11 Jan 2024 08:45
I thought there was supposed to be a trading statement today?