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Look at the volume of buys today and the sp has dropped??! This stock was on my radar last year but kind of forgot about it until coverage in IC. Makes positive reading! Will wait for suitable entry point...
Yet again Simon Thompson, Investors Chronicle has a100p target.
Roll on that day when we see this price and more.
SB
Excellent progress. Revenues up, profits up more, borrowings down whilst acquiring further businesses.
Keep doing what you're doing folks at The Mission.
Market reaction? Go figure, I can't.
Serial buying, not that many trades taking this up nicely.
All welcome, lots of value at this level IMHO
Another new high.
Been a very good week
A new high.
It does seem, at last, that the market has woken up to the value here.
IMHO still a lot of headroom
Stronger again, are we going to break that 60p ceiling this time?
Bern, the figures weren't mine.
Where the share price will go is as unpredictable as ever. If you take a measure of risk, the reduction of bank borrowings, which were already within more than comfortable parameters, has surely moved risk down a few more notches. If the Innovation Incubator can replicate this first success, it would become a major addition to the existing group.
The dividends are much appreciated, as a proportion of my early buys they are very substantial. I can't help thinking that the policy of growth combined with debt reduction will reap strong rewards in future, especially if general business confidence returns post Brexit. Of course, that event is by no means assured IMHO
I agree with most of what you're saying Alf, Broadcare was non-core, so it makes sense to sell it.
I'd argue your maths is out a bit though.
On last years figures, the contribution was between 6 and 8% depending on whether you use "headline" operating profit or statutory op. profit. With companies like Mission, which is often paying for past takeovers, the truth normally lies somewhere in the middle, so I'd plump for something closer to 7% than 5%.
I've thought for a few years now that Mission is undervalued, and I still think the market hasn't caught up with that. The price paid for Broadcare also supports that, though not as strongly as your number suggest.
Anyway, I averaged up a couple of months ago, and like my previous purchases, not much has happened yet, so, until ( hopefully ) Mr Market plays catch up, I shall pocket the divis and ( again hopefully ) watch the capital appreciate.
12 month target - With the wind in the right direction ... 75 to 80p ?
BB
A more considered view of this disposal throws up a couple of points.
The disposal is equivalent to around 10% of the market cap.
The profit contribution was only 5% of the total
.
As Broadcare was grown in house in the "Innovation incubator", it reflects well on the wisdom of creating that facility.
Should the sum received be applied directly to bank borrowing, the material reduction in debt adds greatly to the security and stability of the core business.
Sound business IMHO
A tidy sum realised, although sad to see a profit contributor depart.
Have to agree with DM, that business is not really a Mission area of expertise.
My guess is that the money will soon be recycled in to another acquisition. If not, a drastic reduction in borrowings is no bad thing.
Fully agree. Growth of the agencies, and shrewd acquisitions, keep on enhancing prospects. It hasn't been recognised by the market to date. Hopefully that is about to change.
With such a large share ownership with the employees, it should be great for their morale. Nothing better than financial recognition of their efforts in the media. After all, they have significant influence on their own future.
Onwards and upwards, come on Team TMMG. 😋
Tipped 😋
Indeed another great RNS, excellent progress and run by a sensible Board. Onwards and Upwards one hopes. Come on the elusive 75p!
What an excellent, enthusiastic report.
Big thanks to all at The Mission.
Onwards and, hopefully, upwards to reflect the continued success of this well run company.
The progress continues, year on year profit growth.
Today's strong sp should be just the start, having lagged behind the actual growth of the group over a sustained period.
Well done all at The Mission
Great news. Well done team TMMG. One day we will all be very happy with the share price reflecting its true worth.
Thank you.
Weird
Promising indeed. Another good day. I'm reminded of a podcast from David Morgan from a while back, where he said he wouldn't mind being head of a �200 m turnover company, with a �2 share price. The first part of that equation looks to be eminently achievable.
Unsurprisingly institutional investors are looking to increase there position here, the results continue to impress and the share price lags, it's great news for investors who are still doing their due diligence and research. The lack of activity in the chat is indicative of the fact that the market isn't currently awake to the severity of the opportunity here.
Good to see more institutional interest. Are we going to see share price appreciation as a result? Always thought that the majority of shares are tightly held.
45.01 are sells not buys
Really want the share price to drop a little, which could happen with a few small sells. I'm keen to load up on more shares.
Marketing companies are always the first to feel the pain and the last to recover. Mission marketing is no different. Operating profit is around �7m (read the article below to find out why) and margins are improving, but it is still below the 6% average over the ten-year period, also it managed to reduce its debts by �40m in the same time frame. At 8.5 times multiple, it could represent a rejuvenation of growth or a high valuation, given the ten-year average is 6 times multiple. Finally, it states that organic growth is strong, but contradict itself by acquiring businesses. For more analysis on Mission Market, along with the Card Factory and Belvoir Lettings. http://bit.ly/2v85C4c
I shall be carrying out further analysis once I get a chance to really read the entirety of the results. I'm hoping the price falls back in the next few days as I'm keen to continue building my holdings here. It's slightly selfish but with a holding horizon of 3-5 years I'm not an investor who thinks much about the sale price. My portfolio diversification preference is 6 equities so I'll be focusing on building positions and only really selling if the price suddenly reflects fair value or if it's efficient to recognise my gains and other opportunities are better value. Unfortunately on an absolute term there aren't many true value opportunities out there at the moment, leading to a general scenario of me sitting on dry powder( undeployed capital).