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This has now moved from the sublime to the ridiculous. Will somebody explain whats going on here?
Moving into profit here! Never thought it would happen! I think I've been staring at a loss from the minute I bought these about 5 years ago!
The penny is dropping (better late than never!) These big buys must be part of the £100M buy-back !! I'll wake up soon :-)
Blimey! Another big buy gone through. 210,000 shares at 579.50. £1.2M !!
Someone just invested £800K buying 136000 shares! Somethings afoot!
DMGT is having an extraordinary run! The SP was 450 in mid November. Thats a 28% rise! Can anyone advise/explain please? I know markets generally are doing well, but this is way beyond that! What happened!?
In addition to its stake it will receive £52.5m in cash, part of which will go into DGMT's group pension funds, with the remainder being used for acquisitions in line with DMGT's acquisition strategy. Broker commentCredit Suisse has an 'outperform' rating on DGMT and a price target of 500p. Its analysts commented: "The valuation looks too low in our view as the shares trade on 8.4 times earnings per share estimates for calendar year 2013. This is a 33% discount against the media sector, excluding internet companies of 12.6%"
Daily Mail & General Trust (DGMT), publisher of the Daily Mail, has produced newsworthy full-year results, increasing profits by 10 per cent despite virtually flat revenues. The good news doesn't end there: on the back of these results it will buy-back up to £100m shares over the coming year. Investors will also receive a bumper 18p full-year dividend, up 6% on the previous year. ResultsFor the 12 months to September 30th revenues at £1.96bn were 1% down on the previous year's £1.98bn, with pre-tax profits at 10% higher at £255m than the comparative £232m. Operating profit was up 7% at £300m (2011: £281m ) driven by its business--to-business operations, particularly the international side. Excluding Northcliffe Media, the proportion of this year's operating profit generated from B2B operations and from outside the UK was 79% and 71% respectively. During the period it also reduced net debt by £106m to £613m. The most significant move made following the period covered by these results was the sale of Northcliffe Media, its regional newspaper arm to Local World, a new venture in which DMGT will retain a 38.7% stake announced on November 21st.
The Daily Telegraph reported the deal was expected to value Northcliffe, whose titles include the Western Daily Press, Leicester Mercury and Hull Daily Mail, at around £110m. Yattendon's newspaper business would get a £20m price tag, both payable in a mix of cash and equity in the new business, the newspaper said. The local newspaper industry has been hit hard as advertisers move online and readers turn to the internet for news. Last year, a review by Ernst & Young showed that Northcliffe had lost 90% of its value in less than five years, dropping from £1.5bn to just £150m.
Daily Mail & General Trust (DMGT) has confirmed it is in talks over the future of Northcliffe Media after speculation it would sell off its local newspaper division. Reports suggest DGMT is discussing the sale with Trinity Mirror, in a deal that would see Northcliffe's 84 titles sold to a new firm that is backed by private equity. The new firm would also buy family-owned regional newspaper and property group, Yattendon, which has 30 titles. The new venture, called Local World, would be 75%-owned by the three newspaper groups The three newspaper groups will own 75pc of the new venture, in "broadly equal shares". However, it is not thought to include the sale of any of Trinity Mirror's local stable. "No deal or transaction has been agreed, but if these talks move to the point where agreement is reached, an announcement will be made to the market," DMGT's statement said.
Daily Mail and General Trust (DMGT) said it had completed the sale of its leadership and conferences business Evanta to Leeds Equity Partners. The publishing and exhibitions group said the deal, announced in September, was worth £58m ($94m). When the deal was announced, DMGT Chief Executive Martin Morgan said the sale of Evanta was an example of how the firm was focusing its financial and talent resources. "We are committed to further expanding our fast growing events businesses operating in the energy and digital marketing sectors and those located in the Middle East region," he said at the time.
"DMGT has delivered a solid revenue performance over the year to date, driven by continued strength in our B2B operations," said Martin Morgan, DMGT's Chief Executive Officer. "Going forward our focus will remain on driving organic growth, operational and financial efficiency and pursuing an active portfolio management approach," he added. The share price rose 12p to 502p in the first hour of trading.
The Consumer division saw no change in underlying revenues and a 3% decline in actual terms. Associated Newspapers, the bit that publishes the Daily Mail, saw revenues fall 2% but rise 1% on an underlying basis. Associated Newspapers' circulation revenues were up 4% year-on-year while underlying advertising revenues in July and August were up 7%, reflecting the benefit of advertisers looking to cash in on the Olympics. Total year to date underlying advertising revenues were down 1% with newspapers down 7%, newspaper websites (mainly Mail Online) up 72% and other digital advertising (primarily Evenbase and Wowcher) up 11%. For the first three weeks of September, total underlying advertising revenues were 3% ahead of last year. The regional newspapers unit, Northcliffe Media, continues to have a tough time of it, with revenues down 10% on an actual basis and down 6% on an underlying basis. Circulation revenues were up 1% on an underlying basis but underlying advertising revenues were down 6%, as the small ads market continues to migrate to the web. For the first three weeks of September, total underlying advertising revenues were 10% below last year. Net debt at the end of September is expected to be less than £700m, which would mean the net debt/EBITDA (earnings before interest, tax, depreciation and amortisation) ratio will be below 2.0
Daily Mail and General Trust (DMGT) shareholders breathed a sigh of relief on Tuesday morning as the publishing and exhibitions group confirmed full-year results would be in line with expectations. As expected, the business-to-business (B2B) operations were the main drivers of growth, while the Consumer side of the business received a welcome boost from the Olympics. Group revenue in the 11 months to the end of August was down 1% year-on-year in actual terms but up 3% on an underlying basis. The B2B division, including Euromoney (which, as usual, published results on the same day as DMGT) saw revenues rise 2% on an actual basis and 8% on an underlying basis. Revenue change figures for the B2B units (underlying change in brackets) were as follows: Risk Management Solutions +4% (+7%) DMG informational: +10% (+12%) DMG events: -38% (+15%) The reduction in reported revenues in the events business is due to the sale of George Little Management (GLM) in September 2011 and because only one of the three large biennial events took place during the year.
Martin Morgan, Chief Executive, said: "DMGT has delivered a solid revenue performance over the year to date, driven by continued strength in our B2B operations. The consumer business delivered a resilient performance and also benefited from incremental revenue from the Olympics. We expect our full year results to be in line with market expectations~. Going forward our focus will remain on driving organic growth, operational and financial efficiency and pursuing an active portfolio management approach."
Pre Close Trading Update Ahead of the year end on 30th September, 2012, this statement provides an update on the Group's progress in the current year. It covers the eleven month period to the end of August 2012 and includes comments on September, where appropriate. Summary * Solid Group revenue performance, up 3% underlying# * Good growth from B2B operations, up 8% underlying# * Resilient revenue performance at Associated, up 1% underlying#; circulation and digital revenue growth largely offsetting print advertising weakness * Active portfolio management; targeted acquisitions and disposal of non-core assets * Net debt expected to be less than £700m at year end; net debt/EBITDA ratio less than 2.0 * Outcome for the year in line with market expectations~
http://www.investegate.co.uk/Article.aspx?id=20120925070500PB0D0
Publisher and exhibitions organiser Daily Mail & General Trust (DMGT) issues a pre-close statement on Tuesday, and Peel Hunt thinks the resilience of the business-to-business (B2B) side will balance the more volatile consumer markets side. "We anticipate a mixed performance from Consumer, with Associated relatively stable as the Daily Mail continues to gain market share. Northcliffe has experienced volatile advertising trends in the regional markets, and we anticipate a 14% revenue decline, although cost cuts should maintain margins of over 10%," the broker forecast.
Panmure Gordon maintained its "buy" rating for Daily Mail & General Trust (DMGT) with a target price of 600p. The newspaper publisher is selling Evanta, one of its conference businesses, for a cash consideration of 58 million pounds, which the broker expects to be used to reduce debt. Panmure noted that the move follows on from the sale of the firm's stake in DMGRA and expects net debt to fall below 600 million pounds by the end of September.
Associated: reported revenues were £210 million, with circulation revenues up 4% and continued market share improvement (Daily Mail 21.6% compared to 21.0% last year and The Mail on Sunday 20.1% compared to 19.8% last year)*. Total underlying advertising revenues were up 2%; comprising newspapers down 5%, newspaper websites (mainly Mail Online) up 69% (when combined these two revenue streams were broadly in line with last year), and other digital advertising (primarily Evenbase) up 15%. For the first three weeks of July, total underlying advertising revenues were 3% ahead of last year. Headcount reduced by a further 105 (3%) during the quarter to 3,809, 533 (12%) lower than at the start of the financial year. Northcliffe: reported revenues were £54 million, with circulation revenues up 2% on an underlying basis, reflecting the benefit of recent cover price increases. Total underlying advertising revenues were down 7% in a difficult market. There is a continued focus on efficiency with costs reduced by 14%. For the first three weeks of July, total underlying advertising revenues were 7% below last year. Headcount reduced by a further 86 (4%) during the quarter to 2,280, 251 (10%) lower than at the start of the financial year. Net debt / financing Net debt at 1st July, 2012 was £800 million, down from £809 million at 1st April, 2012. The Group continues to generate strong cash flows and these were primarily used to fund further acquisitions in the quarter. Acquisitions have now used £82 million of cash year to date (notably Jobrapido, Intelliworks, Xcelligent, Global Grain and Euromoney shares) with proceeds from disposals totalling £16 million year to date (notably the final instalment from the GLM disposal). Further debt reduction is expected in the fourth quarter.
Interim Management Statement This Interim Management Statement ('IMS') covers the third quarter of DMGT's financial year to 1st July 2012 and describes the Group's financial position and performance during the period, updated to the latest practicable date. Encouraging performance; outlook for year unchanged: • Revenue for the third quarter of £509 million, up 3% on last year on a reported basis and up 4% on an underlying# basis • Continued good underlying# growth from our B2B businesses • Return to underlying# growth at Associated Newspapers • Net debt reduced by £9 million to £800 million Outlook for the year remains unchanged
http://www.investegate.co.uk/Article.aspx?id=20120725070500P9C8E
Martin Morgan, the Chief Executive of the Daily Mail and General Trust, has doubled his stake in the company with the purchase of 50,000 shares. Morgan, handed over £195,945 for the shares, which he bought at 391.89p a go, taking his stake in the firm to 978,016 shares. The shares were purchased on Tuesday, just a month after the company posted a decline in interim profits.
Daily Mail & General Unit Makes $10M Strategic Investment In Xceligent LONDON (Dow Jones)--Daily Mail and General Trust PLC (DMGT.LN), the newspaper publisher, said Friday that its business information division dmg::information has agreed to make a strategic investment in Xceligent Inc, a provider of property and listing information, for a consideration of less than $10 million. -DMGT shares at 1019 GMT, down 4 pence, or 0.98%, at 414.8 pence valuing the company at GBP1.52 billion. http://online.wsj.com/article/BT-CO-20120427-706915.html
Group - On an adjusted basis*, both operating profits and profit before tax for the first half of the year are expected to be lower than in 2011, although the outlook for the full year remains unchanged. The half year results will reflect the expected reduced profitability from dmg events and lower profits from Associated due in part to lower advertising revenues, higher average newsprint costs and additional promotional activity in respect of our digital businesses. Net finance costs will also be higher due mainly to the acceleration of interest of £6 million, being the premium on redemption of £110m of 7.5% Bonds due 2013, purchased in December 2011. - The Group is likely to report exceptional costs for the half year of around £40 million (around half of which are cash items), mainly in A&N Media. This charge will include reorganisation costs and accelerated depreciation of property, plant and equipment, principally relating to the move of printing facilities to Thurrock. - Net debt at the half year has risen since the year end, as expected, due to acquisitions, payment into the Group's pension schemes, the timing of interest payments and the usual seasonal cash outflows. Net debt is expected to fall in the second half of the year.