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Started: withyman, 27 Sep 2019 20:21
Last post: withyman, 27 Sep 2019 20:21
Great to see the progress by the Mission and the excellent Investors Chronicle article yesterday by Simon Thompson
https://www.investorschronicle.co.uk/comment/2019/09/26/mission-s-major-client-wins-point-towards-a-prosperous-2020/
confirming his target price of 115p. Hopefully a resumption of the upwards trend after the last 2 days rollercoaster ride
You may well ask.
Such a rollercoaster ride, a facet that has only recently occurred here.
For many years, it wasn't even a coaster !
What is going on here?!
Very pleasing update! Peg ratio of less than 1, debt slashed, I'll take a solid 10% growth every year along with a nice divi. Based on a pe ratio of 10, which would still be undemanding, the sp should be around 100-105p.
Surprised to see fall this morning but probably not a great day to release results with markets tanking!
Great results.
The beginning of a new era, with a new name, and much higher aspirations.
Throughout my experience with this company, from a sub 10p share price, I have said consistently, that a company whose centre of excellence is raising the public profile of brands and customers, should apply that expertise to themselves.
I hope that this will be the beginning of that.
Huge thanks to the people at The Mission, a steady hand on the financial tiller, whilst at the sharp end, the group has become a top table competitor in its field.
Started: StockBoy, 25 Sep 2019 11:05
Last post: StockBoy, 25 Sep 2019 11:05
A big thank you to James Clifton and the team of talented employees who are making this Group something they can always be proud of in their mature years.
It must be really exciting for them all.
Well done again and again.
We love it!
SB
Last post: Bazzaman, 9 Sep 2019 15:33
Due 25th September, SP rising as we get nearer to the date. GLA
Last post: Alessandro, 21 Aug 2019 15:27
What's causing the weakness in share price? The prospective of no deal Brexit? If so I can see the weakness to continue as we go through negotiations etc.
Wider economic indicators are certainly giving attractive valuations across equities. Valuations may remain depressed for sometime though. Consensus is that interims will hit target and therefore in the short term TMMG scale of discount remains difficult to justify, given the earnings growth and further improvements in the balance sheet when compared to its peers. Reduced finanical indicators (relative to peers) may not guarentee short term SP growth but it certainly increases its chances too. I take solace in continued dividend growth and other indicators that should attract new investors over the short term and stop others from selling out.
Happy to have purchased 79840 shares this morning. You could use a multitude of indicators to see there is value at current SP. GLA.
If you've researched this company, you'll know that this is usually an investment rather than a speculation, although volatility has been higher recently. For holders, the spread is of no significance, rather the debt reduction, company growth, and increasing dividend yield.
Each to their own
Hiya guys, just doing my research on TMMG and everything is looking excellent apart from the 5% spread. Have I just caught this on an off day or is it usually around the 5% mark?
Good luck to all invested, Simon
Last post: BoringBernie, 15 Jul 2019 19:26
I'd say the market reaction is pretty much as expected.
1. sp rises before update
2. Perfectly good update issued, but % profit increase of 10% is much the same as the same increase as the prev year, and, again like the prev year ( and like it has every year since I've been a holder ), the fin year will be weighted to H2
3. Some people decide to take profits. If enough people do that, then the chartists will follow that trend and the sp will likely drift down a bit.
Overall though, depending on which figures you want to run with, I'd guess we'll be looking at eps for the full year ( as opposed to H1 ) of something like 9 to 9.5p ( 10 to 15% up ), with a total divi of 2.3 to 2.4p, so, at currently 88p, I reckon we're on the low side of a fair value of something like 80 to 110p ?
BB
Very sorry, wrong board
On other exchange
http://www.nexexchange.com/member?securityid=18752
Would suggest profit taking and nothing more. Sp has risen considerably past few months.
Pleasing update, company heading in right direction!
Commendable performance.
Puzzling market reaction.
Debt ratio not quite negligible yet, but getting there.
Big thanks to all at The Mission.
Started: Bazzaman, 5 Jul 2019 15:29
Last post: JohnDoe_23, 7 Jul 2019 16:52
110p by year end would represent a forward pe of 13. Assume a pe ratio of 15, still undemanding for a growth stock, would imply a sp of around 127p.
Trading update due end July i believe. I'm weighing up a move by ex div date...
The Mission Marketing (TMMG) kept showing up on share scans and it was chosen by two at the follow up - it looked good fundamentally so I bought some live.
Most investors are too fearful to buy shares that have already gone up a lot but always seems crazy to me, why not buy a winner?
This marketing outfit is strong and keeps on performing. Profits are up and they are paying off the debt and there is not much of that left.
I agree with the NT, topped up recently so my average buy-in price is now 62p. My new target for year end is 110p. It goes ex-div on 11th July as well. What's not to like. GLA
Started: alfista, 1 Jul 2019 17:47
Last post: JohnDoe_23, 5 Jul 2019 12:43
Investment case for some strengthened by Robbie Burns aka naked trader buying in at 91p. This is my biggest miss not buying in at 65p earlier in year!
How much further can it go?!
Chartists puzzle me, they think a tightly held share can become more liquid than it has been for years and, hey presto!, before your very eyes. Good luck to them anyway.
Wouldn't disagree with you, as StockBoy says, we each must choose a time to let some go if there's a profit to be had. This having become a dividend paying share, that also weighs the argument in favour of a hold overall for me.
Looking at The Mission website does reinforce my view that this has become a much more substantial proposition over the years I've been watching it. Has the possibility of it being a target increased? Looks that way to me, but not imminently IMHO
Tis a fair question that Alf.
Based on numbers downloaded from https://www.themission.co.uk/investors/share-price-information, I'd say a 30 day rolling average shows that volume's up something like three fold from January this year.
That's a big jump, but it's still a small % of the company being trading, so I'd guess some people who bought in the range of ( say ) 20 to 50p are reducing their holdings and a fair % of those shares are being picked up by chartists.
I'm still happy to hold at these levels, but if it got up to something close to 120p this calendar year without an indication that medium term growth in underlying eps was going to average out at 15%+ , then I'd almost certainly be looking at reducing a bit.
BB
https://www.themission.co.uk/news/themission-continues-to-drive-growth-with-high-level-appointments-across-the-group
This is a very positive statement, however it is hard to imagine that loads of PI’s would latch on to this on the TMMG web site. It’s more like press comment to stimulate recent trades, which I cannot find.
Anyone with any suggestions as to how the recent high liquidity has been created?
I've been glancing at daily trades for a very long time, and the current period is so unusual.
Not a complaint, I'm loving it.
Back up to the highs now.
What was I worried about?
:-))
Agree with your comments. I was poised to let go of a small proportion, and hovered over the sell button, but then the phone rang and the moment was gone. Hey ho, the dividend is good and getting better, the company performance has been excellent, and the new car can wait a while :-)
Hi Alfista
Bearing in mind that both you and have been serial followers of this fantastic Company for a long time, it shows that it is so easy to get emotionally attached to shares like TMMG and to forget that taking profits at the right time is the name of the game.
12 months ago, despite solid year on year progress, the share price was still languishing around 40p. It was hard to imagine we would get here other than by a sudden takeover bid.
You and I stuck in here and I know, despite this short term opportunity to sell and buy back in, we are both delighted with the price improvement.
What next? New incentive scheme set at 150p or implement the exit strategy!
SB
Another example of The Law of Unintended Consequences.
The concept of incentivising key folks to create shareholder value is sound. My post of 15th April mentioned that the threshold had been crossed. However, I failed to appreciate the effect that confirmation of the execution of the agreement would have on the share price that had risen so strongly above the threshold.
As a result, I'm looking at a dimwit in the mirror today.
Started: B2HS2L, 4 Jun 2019 11:10
Last post: alfista, 5 Jun 2019 10:56
If you mean do I think this is still undervalued? Yes.
The knowledge of shares to be issued at a level set as the trigger point may anchor the sp around that price IMHO
But, as yesterdays post stresses, my judgement isn't always to be relied upon.
ATB
surely if the incentive was reached it can only mean the board has worked hard and should be an add opportunity?welcome any comments from posters with insight
I totally agree with the concept of banning shorting of AIM stocks. Unfortunately there are many cases of suspect leakage of price sensitive information which leads to this unpopular activity.
In the case of TMMG has shorting occurred?
Interestingly this significant incentive scheme was well documented and so this share price movement (hopefully temporary) was quite predictable. Shame I did not exit all of my holding at 83-85p!
This is to make you aware that a petition to ban shorting of
London AIM stocks has been started.
Consider signing the petition if you agree, - deadline 04.09.2019
https://petition.parliament.uk/petitions/242399
Yes perhaps, although you mustn't regard a one off disposal as being core profits. The group has been growing, with some of the new acquisitions contributing very well. Debt reduction is another factor. From being moderately risky at the time of restructuring, debt has fallen back to a comfortable level in comparison. Dividends is another factor, and is a particularly strong reason for me to be cautious about disposal. You can imagine what percentage return they represent on some of my earliest buys.
If there does come a point where this share is overvalued due to sp growth or a reversal in fortunes, then of course I'd have to consider it. On track record I'd expect the former to be much more likely than the latter, but I do consider that there is some way to go before fair value is reflected.
All just MHO of course
Alf
fwiw - I think the fundamentals changed round about last Sept when profit growth changed from what was previously round about 10% to something about 20%. January's trading update, and then the results themselves confirmed this.
A company consistently growing profits at 20% is, all other things being equal, worth about twice one which is consistently growing profits at ~10%.
As for where to reinvest - who knows. Most of my the rest of my portfolio ( a mix blue chips, mid caps and small caps ) is pretty much treading water, so it's nice to have one or two investments which are bucking the trend a bit. But, there will almost certainly come a time when Mission starts to look overvalued, so, at that point, chances are, I'll be selling. Hopefully that'll be a few years off yet like.
BB
Thanks for your thoughts Bern.
The fundamentals have been sound for a very long time now, due praise to the board for balancing growth with stability during uncertain times for the sector. Nor could I attribute the recent movement to coverage and recommendations, there have been many others over the years I've been watching. What we've seen of late has been outside of my experience on this particular share, having been achieved with practically zero hoo haa. Hence the "what's going on" question. Not seeking to start any rumours, just wondered if anyone else had spotted something I hadn't.
Thanks for the portfolio advice. I came in to this one by peeling off substantial profits from bank shares purchased in the depths. Given their performance since it proved to be reasonable timing, though by no means perfect. My issue would certainly be the "where to reinvest" problem, I have a friend who invests only main market, he is crying, small caps are more than enough in my bunch, oilies and miners are a car crash, retail a no no. I don't find the time to study a lot these days. I've nearly completed another property investment, but am wary of doing any more in that region. Looks like it'll have to be wine, women and song then :-)
Alf
I don't think there's anything out of the ordinary happening here. The sp is likely moving up on a combination of good fundamentals ( historic p/e of < 10 ) and forecast p/e of less than that ( take your pick on which eps you want to run with, adjusted or IFRS, they're not massively different ), decent growth prospects ( maybe 10 to 15% for the current FY ? ) and some solid momentum on the chart front, so you'll have two types of buyers in the market at the moment.
IF Mission was a bigger % of my meagre wad than it is ( I think it's about 5% or so ), then, purely for the sake of balancing my portfolio, I'd probably be taking some profits and thinking about where to reinvest, but it's nowhere near the 10% or so of my p/f that I'd be feeling quite nervous about, so I'm currently happy to let profits run.
Mind you, if I'd been in as long as you have, and was feeling overweight in Mission, then I'd probably be doing something different
BB
Something happening here? We've seen a rising pattern for quite a long period now.
Very happy to see it.
Last post: GamblingAddict, 24 May 2019 18:41
Ali
The AGM's on the 17th June in London.
See https://www.themission.co.uk/investors/shareholder-centre/agm-information for details
BB
please can you tell me w en and where is the agm- the calendar on the website says june but no specific date
I wish I could make it, it would be good to meet some folks. Unfortunately my work situation doesn't allow me to be there.
Sparkling form again today, another new high?
ATVB
Are you coming to the agm. I'll buy you a beer and quick lunch if you do. SB
Ps unless TMMG are providing .......... Not expecting as they are busy people.
Last post: Bazzaman, 22 May 2019 15:57
Keep riding the wave, Simon has £1 target price so happy to add. GLA
Because such a large percentage is tightly held, it could be argued that this has been overbought for years.
The director sell a while back was for the sole purpose of creating sufficient liquidity for an institution to take a holding. If any large buyer fancies some more, they'll have to prise them out of someone's hands.
I'm minded of a comment in a podcast by David Morgan a while back. He said he'd like to be at the head of a £200m turnover company, with a £2 share price. A laudable ambition, although I'm certain he could find a longer word to describe it.
Yea, it's all looking good here Alf.
I think I had a twelve month target of 75p+ here from about six months ago, so it's nice to see that the market's agreeing with me about something for once. ! I've only been a holder for something like 3 years, so nowhere near as long, or as profitable as you, but I don't think the current sp ( 76p mid price ) is overly demanding, so I'm in no rush to reduce.
BB
Been in here for a long time now, started buying prior to the refinancing That proved to be the right move at the right time. Today's results are very pleasing, the dividend yield keeps climbing, as does the expressed optimism within what is now a substantial group.
The board and all elements of The Mission are to be congratulated on such continuous strong success.
Quaquaversatile indeed.
Started: alfista, 15 Apr 2019 17:26
Last post: alfista, 15 Apr 2019 17:26
Does this level trigger the Incentive plan they put in place a while back?
Have to say, I'm absolutely delighted at progress recently. My best performing share by a distance.
Started: GamblingAddict, 9 Apr 2019 12:42
Last post: GamblingAddict, 9 Apr 2019 12:42
Yes, appear to be a quality run company. Eighth successive year of growth, had my eye on them a while now. No funds or i would have bought in yesterday pre results... Maybe Simon Thompson coverage in IC today...
Well this Company have year on year consistently achieved exactly what they say they have set out to do. The presentations are well written and the latest video on the TMMG web site is excellent. This is a very professional Company that does not “bullshit”; they tell it how it is ........ pure and honest. Consistent growth is on the agenda big time. Watch for the 100p + reviews to come.
David Morgan speaks from deep within and Is genuinely quaquaversatile. Not sure i’ve used this correctly, but who cares.
No gamble here so it’s a “yes” from me.
Started: alfista, 27 Mar 2019 12:09
Last post: alfista, 27 Mar 2019 12:09
Just Bed & ISA'd the remainder of my allowance, both transactions show up as sells. Not the case, more than happy to hold for the divi and further growth potential here.
Started: StockBoy, 7 Feb 2019 14:44
Last post: StockBoy, 7 Feb 2019 14:44
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
Started: alfista, 14 Nov 2018 14:54
Last post: alfista, 26 Nov 2018 12:59
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
Started: alfista, 12 Nov 2018 08:53
Last post: alfista, 12 Nov 2018 08:53
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.
Started: StockBoy, 12 Oct 2018 16:23
Last post: alfista, 12 Oct 2018 16:40
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. 😋
Started: StockBoy, 12 Oct 2018 14:42
Last post: StockBoy, 12 Oct 2018 14:42
Tipped 😋