Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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To be honest, I do have a sizeable holding here too. The company is clearly on a downward trend but I hope that 30p will mark the floor. The P/E indicates that the company is undervalued but it is currently held back by the high debt and the wider macro situation and slow decline of newspaper publishing. As TNI diversifies into other areas, pays down debt and further reduces costs, this company will eventually see a re-rating. I would be surprised if we are not back at 45-50p within 6-12 months.
good to see someone commenting on this board, i look here everyday and think it must be me, i must be missing something and panicking for nothing. do i sell and make 50% loss and try to recover the loss elsewhere in somthing that has a chance of going up or continue to lose more and more. this is an awful share is it not?
It looks increasingly as if we will be seeing 30p quite soon. It's about time the company start delivering a credible strategy.
Three directors buying today including Sly herself.
Panmure cut price target from 100p to 75p but still rates Trinity a buy. It looks like the sp might have reached the floor. If evidence is presented that the new strategies are working - Happli etc. - then the sp might creep back up to 50p+.
This sp is a result of shorters swamp..............i think its probably riched the bottom,it should start the slow recovery from here.................HOWEVER,it will be a very slow process,unless some positive news will creap in........GLA............
I'm not very "happli" with the share price performance Sly lol!
Trinity Mirror is launching "happli", a nationwide daily deals business, focused on attracting and retaining loyal, long-term customers for retailers. The launch is supported by a £10m investment over the next two years with the business forecast to deliver net revenues of around £20m by 2014. There are significant opportunities to drive new revenues from this market which was estimated to be valued at around £100m in 2011 and is forecast to rise to over £1bn by 2016.
Almost - closed at 35.25p. Supaman, I agree that the sp will probably continue to drift down for a few more days next week, and hopefully won't drop below 30p.
From The Telegraph: Regulator to examine Trinity Mirror pension move. The Pension Regulator is to examine a decision by newspaper group Trinity Mirror to slash payments designed to tackle its pension deficit. The company announced a £69m reduction in "deficit funding payments" over three years as part of its plan to repay £168.4m of loan notes to US investors. The publisher of the Daily Mirror revealed it will cut annual deficit reduction payments from £33m to £10m alongside a £110m refinancing. The change comes despite the Trinity Mirror pension deficit increasing from £161m to £230m last year. A spokesman for the Pension Regulator said: "We will scrutinise any reduction in contributions or other actions that increase risks to the scheme and are prepared to take strong action where necessary." The company said the reduction in pension contributions alongside its refinancing will allow it to pay off US loan notes due this June, and in October 2013 and June 2014.Pension consultant John Ralfe said: "The pension scheme is effectively being pushed behind these other creditors who are being repaid first. I would have expected Trinity Mirror to have squared this with the Pension Regulator before making this announcement." The announcement came as Trinity Mirror revealed a 40pc fall in profit before tax to £74.4m in 2011 on revenues 2pc lower at £746.6m.
From The Telegraph: Trinity Mirror profits drop 40%. Trinity Mirror has reported a 40% fall in profits and held its dividend as the newspaper publisher struggles to restructure the business in a tough economic environment. Pre-tax profits fell to £74.4m in the year ended January 1, compared with £123.7m the previous year, as newsprint prices rose and it invested more in digital technology as readers move online. Revenue fell to £746.6m from £761.5m. Trinity Mirror said it expected group sales to fall by 3pc this quarter with a 12pc decline in advertising revenue only partially offset by growth in circulation and other revenue streams.
I am amazed the SP is holding up so well today. The poor cash position and deferred pension payments don;t really augur well. I guess they're likely to be able to borrow at reasonable rates for some time to come, but these were very poor results overall. Maybe 35p was the real bottom for this share, but I can;t see it going above 50p any time soon.
It will not surprise me to see the CEO out the door later this year now?
Earnings per share have fallen dramatically this year. This company continually disappoints its shareholders. All year we were promised £25m cost savings, which in the end had virtually no affect on operating profit due to increased print costs. This is a company still undergoing serious rationalisation - great titles like Birmingham Post and Liverpool Post going from daily to weekly. And Happli will require £10 million investment, and if target revenue is only £20 million, that suggests it might be loss making for the next two years. Hardly the quick turnaround shareholders were hoping for.
net debt is falling, but cash in bank just £15 million - down from over £100 million last year. Unless this is an accounting quirk it would seem as if their cash-flow is very poor. Does this mean if the NOTW hadn;t closed then they would have had to have borrowed more money just to stay afloat. Poor results overall - and I think it will be at least two more years until the dividend is restored, if then.
in today's final results. Profit is still sinking like a lead balloon. Executives are still paying themselves huge salaries while the shareholders continue to get NO DIVIDENDS. The new initiatives sound good, but how profitable will they be? Net debt is falling but is still way too high.
Dave Raywood, happli's Managing Director, said: "We have listened carefully to customers and retailers and have developed a unique proposition, which we believe is clearly differentiated and with a customer experience that is second to none. "We are working with retailers to really understand their objectives and build winning deals that will offer real value to customers. "Daily Deals are an increasingly important part of the marketing mix for SMEs and our deal partners will be working with them to craft promotional offers that showcase what they have to offer, delight consumers who buy them and work with the retailer to drive repeat visits and sales." The launch is being supported by a heavyweight advertising campaign across Trinity Mirror's full portfolio, including full page ads in the Daily Mirror, Daily Record and relevant regional titles. Dedicated online search, affiliate and social marketing activity will communicate the benefits of the service under the tagline "Live life. Live happli." Chris Ellis, Managing Director, Trinity Mirror Digital, said: "Launching new nationwide digital brands and diversifying revenue streams is an important part of our digital growth strategy. "happli is a new social commerce platform which delivers on both a local and national level. We are launching a well-thought-out proposition that works for consumers and retailers alike. We'll be leveraging Trinity Mirror's existing portfolio and customer relationships, as well as building new digital marketing capabilities and ultimately opening up direct-to-consumer sales on a large scale." ENDS
TRINITY MIRROR TO LAUNCH DAILY DEALS BUSINESS Trinity Mirror is launching "happli", a nationwide daily deals business, focused on attracting and retaining loyal, long-term customers for retailers. The launch is supported by a £10 million investment over the next two years with the business forecast to deliver net revenues of around £20 million by 2014. The deals business represents a good strategic fit for the Group, focusing on delivering simple, high value, local and national deals directly to customers. The sector is an increasingly important area in selling marketing solutions to small and medium size enterprises (SME). Strengthening our relationships with SME advertisers through the provision of a diversified range of digital products and services is a core strategic imperative for Trinity Mirror. There are significant opportunities to drive new revenues from this market which was estimated to be valued at circa £100 million in 2011 and is forecast to rise to over £1 billion by 2016. By leveraging the strengths of the Group's full portfolio, local infrastructure and existing national and local customer relationships, as well as building a dedicated expert team to develop the business, Trinity Mirror is well placed to succeed in this area. happli has already been successfully piloted in Manchester and Newcastle and from today the business is being launched nationwide with nationally available deals and is being rolled out locally in a further three cities - Liverpool, Glasgow and Edinburgh. By the end of the year happli will have been rolled out to a further 20 cities. By early 2014 local deals will be available in over 50 cities. The web and mobile site - www.happli.co.uk - will showcase a daily selection of handpicked great value deals and experiences. Customers will be encouraged to check prices, read reviews and share recommendations with friends via Facebook. An experienced digital management team - led by Managing Director, Dave Raywood - is already in place and will report to Chris Ellis, Managing Director, Trinity Mirror Digital.
Operating profit down 12% in 2011-2 despite the closure of NOTW and still no dividend on the horizon. I would not be surprised if this is trading around 30p very soon.
Trinity Mirror The publisher of The Mirror and The People has suffered the way other print media outlets have in recent years, with increasing numbers of people turning to online sources and ditching the dead tree approach -- I can't remember when I actually last bought a printed newspaper myself. Profits, along with the share price, crashed, and dividend payments were suspended. But with a belated move towards online news, Trinity Mirror may well have turned the corner. While full-year profits for December 2011 and 2012 will be still way down on pre-trouble times, there's a dividend expected again. And though it'll only be around a tenth of pre-suspension payouts, forecasts suggest 5% for 2011 and 9% for 2012. http://www.fool.co.uk/news/investing/2012/03/13/five-bombed-out-bargains.aspx
Some shorters had their fun and have been clsloing down their position today.. still the SP is down.. still more than 30M shares on loan...
Thanks for that. This is a particularly interesting bit: "The NUJ claims that since 2003, Bailey has collected around £12.5m, while the share price has dropped almost 90%. The union added that in 2010 her pay and bonuses amounted to £1.7m." Let's hope that her pay is cut and used to reintroduce a dividend for shareholders. These figures say it all. Fat cats and exploited workers, and forgotten shareholders.
looks like it's coming - but why? Anyone got any ideas?
Four leading investors in Trinity Mirror have expressed disquiet at the high levels of executive pay at the media company. They are particularly unhappy that Sly Bailey, the chief executive, was paid £1.47m last year, plus a pension contribution of £248,000, at a time when the company's share price has drifted. Four leading shareholders, Schroders, Aviva Investors, Standard Life and Legal & General have met with Trinity's chairman-elect David Grigson and expressed the view that Ms Bailey's pay needs to be cut. Between them, the four own 42% of the shares. One unnamed shareholder reportedly said: "It is excessive by most standards, let alone a company with a market value of about £100m," according to The Telegraph