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This share is really exciting and good to get involved with, always looking for growth and in alternative markets as well. Watch this space over the next 3-6 months me thinks..............
Further growth, a whole new field, excellent. Clearly the opportunity to network a bigger client base through this exciting new venture creates further business potential across the group..
It would be nice to see some increase in the share price. We tend to see the drops on the sells, but not always the increase on the buys. Hoping that following the AGM we may get more news and gradual increases and well as the dividend in July.
A few more for the top brass. All good IMHO
Anyone know why there are so many sells over the last few days? Nothing in the news as far as I could see
Indeed. This board can hardly be described as frenetic. Growth has been greeted calmly, as has debt reduction, acquisitions, overseas expansion, industry awards and new business wins. Activities which would have lit the blue touch paper on many another board. The value of the company just keeps on increasing, at some point the market will catch up I guess. As you say, patience.
Sounds good to me, patience is the key here but I'm a firm believer that it always is with a good company to progress. The more I'm reading the more I like. It's a change of pace from gold and oil, which are a little shaky at the best of times.
Can only nod in agreement Samarco. Boss man said that he would be happy to be looking at a circa £200m turnover company with a share price around a couple of quid. Even if he is half right it make the current sp look attractive.
I bought into this last week and i'm very confident with the potential that the group has, what are the thoughts of the long termers on here?
The Buy recommendation in Moneyweek was rational and well worded. Only stated what us holders have known for years mind you. Lots of upside if the wider investment community becomes more aware.
Sensible incentivisation of key personnel IMHO
I think if you click on the Trades button above you will see that sells have gone though at or over Bid. Maybe you need to put a flea in your broker's ear, look like they have an issue with their feeds. Following the buys of Mrs F, and DM, confidence looks to be mirroring that of David Morgan in his last interview. Lots of value here if the group carries on advancing as it has over the past few years IMHO
I have a trading account with Beaufort and seeing the rise in the share price thought I'd check what my shares would be if I simulated a sell. The best firm price I was getting was around 40p even though the bid was around 45-46p. Can anyone explain why that would be, is it to force people to stop selling?
The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the marketing communications and advertising group, announces that it was informed on 31 March 2015 that David Morgan, Chairman to the Company, purchased 40,000 ordinary shares of 10 pence each in the capital ("Ordinary Shares") of the Company at a price of 43 pence per Ordinary Share. Following this purchase Mr Morgan now holds 6,129,533 Ordinary Shares, representing 7.3% of its issued share capital.
The Mission Marketing Group plc ('the missiontm', AIM: TMMG), the marketing communications and advertising group announces that it was informed on 27 March 2015 that Mrs. V Fitzwilliam, the wife of Peter Fitzwilliam, Finance Director to the Company, purchased 25,000 ordinary shares of 10 pence each in the capital ("Ordinary Shares") of the Company at a price of 42.95 pence per Ordinary Share. Following this purchase Peter Fitzwilliam is now interested in 673,940 Ordinary Shares, representing approximately 0.81% of its issued share capital.
David Morgan, our Chairman's remarks. A character! Would be more impressed if we had realised share price growth this year. If TMMG is as cheap as we all think it would be better for the company to purchase stock to hold in Treasury than pay a dividend. Come on David, use the funds to support the share price!!! .. - 2014 was a good innings, now let's play a blinder... - It's always gratifying to do what you say you're going to do, so 2014 will go down for us as such a year. - Exciting times in PR. - Phew. - It seems to me therefore that the missiontm had a pretty good innings in 2014. And I'm hopeful that our shareholders and supporters will be bowled over in 2015. Which should be no surprise given the team that we are able to field. - They're all doing a grand job. No lallygaggers here.
...the chairman sounds like a right cheeseball !
The mission’s FY14 results are in line with market expectations and show good progress in building out the client offer. The acquisitions have bedded in well and extended the group’s geographic reach, with new business wins helping to drive operating income. There have been meaningful improvements to the balance sheet, with gearing falling to 13% (end FY13: 16%) and new banking facilities give flexibility to fund growth. Current forecasts factor in negligible growth over pro forma numbers, yet still put the group’s shares on a near 40% discount to other smaller agency groups. Backing the winners Group like-for-like operating profits were ahead 5%, with overall operating margins holding up at 11% despite industry pricing pressure. The group’s strong positioning in the property vertical did not give the boost that might have been expected given the sectorial strength of that industry; in fact, demand was so robust that heavy marketing effort was not needed to shift stock. The group continues to diversify its overall client offer. It has extended its Far Eastern activities on the back of the acquisition of Splash in the autumn, is building its capabilities in new areas such as sports marketing and enhancing them in verticals such as technology and healthcare. Exceptional costs of £0.6m will be taken in H115 as resources are realigned to parts of the group with the greatest growth potential. Strengthened balance sheet, greater facilities The balance sheet was boosted by October’s £2.3m placing (existing and new holders). This contributed to acquisitions and to investment in new offices for agencies that merged or outgrew their previous locations. Bank warrants for £0.7m were also settled. Since the year end, the mission has negotiated a new facility rolling out to February 2019, with an increase in the committed element from £11m to £15m, with a further £3m overdraft. A new KPI has been instigated limiting total indebtedness to 2.5x EBITDA (including contingent acquisition consideration). This should give comfort that the balance sheet will not again become overburdened. Valuation: Unwarranted heavy discount The mission valuation remains heavily discounted, despite a growing record of delivery against expectations. Consensus estimates show FY15 earnings growth of 12%, well ahead of the sector and UK market. The shares trade on a substantial P/E discount: 7.4x against the smaller agency sector at 12.1x. This should narrow as the group demonstrates it can grow margins and generate shareholder value.
The Chairman in ebullient mood, and why not. Strong increase in profit, excellent further progress in group expansion. Good innings team!
Financial headlines · Operating income ("revenue") up 7% to £55.0m (2013: £51.6m) · Headline trading profit up 10% to £7.7m (2013: £7.0m) · Headline profit before tax up 10% to £5.5m (2013: £5.0m) · Headline diluted EPS up by 15% to 5.13 pence (2013: 4.45 pence) · Full year dividend up by 10% to 1.1p (2013: 1.0p) · Total cash investment in growth: £4.2m (£2.1m on acquisitions; £2.1m on capex) · Net proceeds from equity placing: £2.3m · Full settlement of bank warrants in cash: £0.7m · Net bank debt reduced by £1.3m to £9.4m David Morgan, Chairman, commented: "In 2014 we made good strides with our declared strategy of extending the strength and scope of the Group. Our Agencies flourished and we either acquired or created new business ventures that will make us even better placed to serve our Clients in the years ahead. As we exited 2014, the Group was in good shape and we expect further growth in the coming year in both revenue and profit."
David Morgan, Chairman of The Mission Marketing Group, gives a quick run-down on what 2014 has looked like so far and what is planned for the future. https://www.youtube.com/watch?v=k8Y1eVpXp-A I'm looking forward to hearing news on Splash Interactive, the Asian group acquisition.
The spread is pretty rubbish. It would be rice if it starts to move closer to the ask price.
edison get paid for their research so take with a pinch of salt I have found in the past. I have a feeling with a market sell off these could well fall back to 30-35p. Results have disapointed in the past too often.
Not the only analyst to note how undervalued TMMG is. Why ? Borrowings were quite high at the start of the economic meltdown, and the share price paid a heavy toll. Since then, the core group businesses continued to trade very well, the debt was brought under control and has consistently reduced, dividends re-commenced, and a growing group of further businesses were acquired. Coupled with overseas expansion the prospects here have continued to improve. The share price has lagged behind by varying degrees, but in my experience the gap between where we are and where we should be has never been greater.
With its improved financial position, the mission continues to supplement organic growth with complementary and contiguous acquisitions. This morning it has added a further small agency to its stable, The Weather, strengthening the Story agency’s digital capability. Due to its relatively small scale, full transaction terms are not disclosed, but include the issue of 210k shares. Group final results will be on 26 March, when management will update on early progress of last autumn’s three acquisitions. The share price remains at a heavy discount to both agency sector and market. Valuation: Unwarranted heavy discount The mission valuation remains heavily discounted, despite a lengthening record of delivery against market expectations. Consensus estimates show FY15 earnings growth of 14%, well ahead of sector and the UK market. The shares trade at a P/E of 6.9x against an agency sector average of 11.9x, a very substantial discount. This should narrow as the group demonstrates it can move margins ahead and generates value for shareholders in this renewed growth phase.