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Do people think that with the positive news stories and upcoming end of year final results being published in March that we may seem some further upward trend on the share price in the short term.
Looks an excellent fit with Story up in Edinburgh, and, as it is digital work, further enhances the whole group offering. Exchanging shares for a cash generative business looks sound to my way of thinking.
Acquisition of The Weather Digital and Print Communications Limited The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the marketing communications and advertising group, is pleased to announce the acquisition ("the Acquisition") of Edinburgh-based The Weather Digital and Print Communications Limited ("The Weather") by its integrated Agency, Story UK Limited ("Story"). Story is an award-winning agency with a portfolio of blue-chip Clients including Highland Spring, M&S Bank, VELUX, Ardbeg and Scottish Government. The Weather is a specialist digital Agency, employing 11 staff, whose expertise will complement and extend Story's range of services. The Weather has a profitable and cash generative track record, and the Board of the missiontm expects the Acquisition to make a positive contribution in the current financial year. Executive Chairman of the missiontm, David Morgan, said: "Continuing our strategy of finding complementary businesses to extend and expand the range of services our Agencies can provide, we are delighted to welcome The Weather into the missiontm family." Chief Executive of Story, Sue Mullen, said: "Story has a strong reputation for very creative, integrated work and we are excited about the opportunity to offer The Weather's digital expertise to our Clients." Charlie Cutler, one of the co-founders of The Weather, added: "Since we launched The Weather over five years ago, we have grown the business and its reputation in the Edinburgh market. We are now ready to accelerate our growth through being part of Story's award-winning offering." The Acquisition of The Weather is not a substantial acquisition as defined by the AIM Rules for Companies. As part of the initial consideration for the Acquisition, the missiontm will issue 210,136 new ordinary shares of 10 pence each ("Ordinary Shares"). Further consideration may be payable, subject to The Weather's future performance. Application has been made for the 210,136 new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares of the Company, to be admitted to trading on AIM, which is expected to be effective from 8.00 am on 19th February 2015. Subsequent to the issue of these new Ordinary Shares, the total issued share capital of the Company will be 83,608,331 Ordinary Shares. The Company holds no Ordinary Shares in treasury. Accordingly, after Admission, the total number of voting rights in the Company will be 83,608,331. TMMG continues to grow and increase future earnings. Quality long term investment at this price IMO
The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the marketing communications and advertising group, is pleased to announce the acquisition ("the Acquisition") of Edinburgh-based The Weather Digital and Print Communications Limited ("The Weather") by its integrated Agency, Story UK Limited ("Story"). Story is an award-winning agency with a portfolio of blue-chip Clients including Highland Spring, M&S Bank, VELUX, Ardbeg and Scottish Government. The Weather is a specialist digital Agency, employing 11 staff, whose expertise will complement and extend Story's range of services. The Weather has a profitable and cash generative track record, and the Board of the missiontm expects the Acquisition to make a positive contribution in the current financial year.
I think the last time I took a look at MISSION MARKETING GROUP, was back in the summer of 2013 when the shares stood in the mid 20’s. So, I was interested to see the digital marketing and advertising group’s announcement this morning that the board expects to meet market expectations. Broker FinnCap had pencilled in pre-tax profits of £5.5m and EPS of 5p for full year 2014, putting the shares on a PER of 8.5 at today’s price of 42.75p. The company also announced that following what has been a strong second half, it anticipates net debt falling, thus reducing its level of gearing. The shares here have enjoyed a steady run and once again look worthy of a closer look, where pre-tax profits are expected to increase to £6.4m for this year. http://www.privatepunter.co.uk/News/updates-from-today-26-january-2015 TMMG below 40p, possible 50% swing from this level in 12-18 months
That's a point, the changes to what were localised revenue streams probably is the major catalyst for why the second half results appear better than expected and could be a trend for future results to come. Interesting Edison update with forecasts available this morning. "The mission’s brief trading update indicates FY15 results in line with market expectations, along with further balance sheet improvement. There is an inherent industry bias toward the year end as clients spend up their marketing budgets, which can make H2 trading targets look demanding. The mission has clearly achieved its H2 ambitions and this momentum gives encouragement that it is now firmly on the front foot. Final results are on 26 March, when we expect news on early progress of the autumn’s acquisitions (Proof Communications, Splash and Speed) . The share price is yet to reflect the group’s improved financial and operational positioning." "The mission valuation remains heavily discounted, but the growing record of delivery against market expectations should help rebuild confidence. Consensus estimates show 11% FY14 earnings growth, with 14% for FY15, well ahead of the UK market. The shares trade at a P/E of 7.4x against a FY15 current year agency sector average of 11.7x, a substantial discount that should narrow as the group demonstrates it can generate value for shareholders in this renewed growth phase."
Indeed, suggests that the newly acquired agencies are bringing improved cashflow in. Also, the group has expanded overseas more recently. The trading pattern in other markets may result in a change to the established "strong first, weaker second" halves"
Issued in the Interims - "Operating cash flows are traditionally stronger in the first half of the year than the second and start of 2014 again saw strong cash flows, resulting in cash inflows from operating activities of £5.2m (2013: £5.0m) and a reduction in net debt to £7.3m at 30 June (2013: £8.8m). As a result, our gearing ratio (net debt to equity) reduced from 17% at 31 December 2013 to 11% at the end of the period and our "leverage ratio" (ratio of net bank debt to adjusted EBITDA) reduced below x1.25, triggering lower interest rate margins which will benefit the second half of the year. At 30 June 2014, the Group had £11.6m of committed facilities, of which £2m was undrawn, and an additional overdraft facility of £2m. As in prior years, due to the phasing of working capital requirements, an increase in net debt is predicted in the second half of the year." Issued today - "We also expect our year-on-year net bank debt, gearing ratio and debt leverage ratio to be further reduced."
Regarding acquisitions - from what I understand, the two in the past 6 months have been purchased through issuance of TMMG shares for the considered price, namely at 42p for one and an unknown figure for the other. Good for the business but it wasn't really going to affect the groups net debt position. It should add 3-6 months worth of additional revenue to the results and as both were profitable then operating profits should be higher. Second half is according to the Interims normally a poorer half, and they had expected to see net debt rise but todays update does suggest an improved outlook. For a similar value stock check out ESS, completely different business model but might be of interest comparing the financial results.
Set against the background of continued acquisitions and expansions over the past year, the continuing debt reduction is remarkable. They are running a tight ship. Euro wobbles to come, nothing about that will directly affect. Look forward to seeing the details. Shareminator. Given the level of revenues, continuing strong performance over many years, and huge lowering of debts, this has to be undervalued IMHO
All sounds positive. Inline withe expectations and further reduction in debt. Look forward to further progress through 2015. GLA
Great RNS, wonder if there are more details about the awards and why those names were chosen. Like you say this may translate to better than expected results. Today's trading seems thin, but could indicate a turning of the trend. 41-42p today. I would definitely be in if it were not for the macro-economic picture - weak global growth, oil price driven lower - weak Europe (deflation) with Greek elections to come - UK elections in May might cause the markets to jitter What do you perceive the major factors affecting performance to be here in the coming months?
Further proof that these guys are really on their game. Translating that excellence in to more business and higher margins is the challenge. Surely they have created a great marketing tool for sales teams to impress prospective clients with.
I'm hoping that this one rises further into 2015. Hoping the awards continue and the business grows. Only wish I got in when this was in the teens. Originally invested a few years back around the 30p point and watched it drop. Hoping that patience is a virtue and the good times continue.
Happens all the time, they keep the posted Ask high but take a buy at just below mid, then it shows as a sell. Such an inexact system, I guess designed to keep us in the dark. This has moved around quite a bit more since being tipped a couple of months back. Maybe followers of those sites then move on to the next tip instead of displaying patience. A steady approach has benefitted my holding immensely here, and still looks promising to keep growing. David Morgan says he would be happy with a £200m turnover company at around £2 a share in the next couple of years. Of course we don't always get what we wish for, but anything in that region would be pretty darn good
On this site recent buys seem to registered as sells. Why would this be?
"beef up" - hoping this is not the phrase to take away from the chairmans statement
good support around this 41-42 level, large sell mopped up but risking holding on for a little longer. Anyone worked out what final quarter results are forecast?
Nice one Peter
A fine achievement, Bray Leino are at the top of their game. I notice two more of the group agencies also get a mention. Wonder if the watchers got brave and took a holding? Has to be a lot more upside here surely IMHO
http://www.b2bmarketing.net/news/archive/top-70-b2b-agencies-league-table
Could be time to invest this week..?
watching on the sidelines too. Can fall further. Great business, attractive valuation.
Behaving out of character, it does suggest that perhaps some of the "aquirees" have sold. Can't be another fundraising can it? A bit too early to be buying WPP :-)
That was quick work up to 50p but sells below 43p today, watching on the sidelines still