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Sunday share tips: Johnston Press, IG Design

Sun, 07th Aug 2016 13:59

(ShareCast News) - Sell shares in Johnston Press, was the advice of the Sunday Times' Inside the City column. The publisher, recently added to its stable of local newspaper that ranges from the Burnley Express and the Isle of Man Examiner down to the Crawley Observer and Portsmouth's The News, with the acquisition of the daily national paper the i from the owners of the Evening Standard for a whopping £24m, of which £22m was cash, putting further pressure on a creaking balance sheet. Net debt stood at £137.7m at the start of July, according to recent interim results, of which there was £10.59m cash in the coffers.At those results the company wrote down the value of most of its publishing titles and print assets by roughly £224m almost in half to £279m, excluding the i. The resulting market value of just over £11m means that Johnston is worth, if cash is stripped out, a heartbreaking £0.5m. A £24m loan could be useful but the banks' conditions require the company to improve its debt-to-earnings ratio before it can access it. Plans are to cut costs and sell assets, in order to keep afloat, although this might be a lot easier if it didn't have to pay interest costs of £19m a year.IG Design is a stock worth buying, said Midas in the Mail on Sunday. The former International Greetings has been a recovery story since hitting a lot in 2008 but prospects for further growth from the maker of greetings cards, Christmas crackers, wrapping paper and children's stationary are said to be bright, with a customer list that includes Costco, Wal-Mart, Tesco, Target, Aldi, Lidl and Waitrose. Annual results to end-March showed how in recent years management have reduced the reliance on the UK, cutting overseas revenues risen to 66%; reduced reliance on cards and Christmas, with cards down to 9% of sales and Christmas still accounting for around half, as well as reducing the debt, which was down to £17.5m from £42.1m three years ago.IG sells a range of around 0.5bn products in around 80 countries, with the US beginning to be a major market, helped by Fineman shifting the product range downmarket. Retailers buy IG products for an average price of about 55p and price them on the shelves at between £1 and £2, which keeps demand resilient whatever the economic conditions. IG's manufactures in The Netherlands, Wales, China and the US produce goods quickly and cheaply. Further investment to upgrade US manufacturing due to be complete by early next year, should add growth in what is the biggest market in the world for gift products and children's stationery. Brokers are sanguine for 2017, forecasting 13% sales growth to £269m and similar profits acceleration to £12.3m, with the dividend up 1p to 3.5p.

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25 Jan 2017 10:14

Johnston Press wins contract to print Daily Mail

(ShareCast News) - Multimedia company Johnston Press, owner of brands like The Scotsman and The Yorkshire Post, has won a contract to print the Monday to Saturday issues of the Daily Mail for an undisclosed sum. The agreement comes after Associated Newspapers, a wholly owned subsidiary of DMGT respo

17 Jan 2017 11:07

Johnston Press sells East Anglia newspaper business for £17m

(ShareCast News) - Johnston Press, the owner of the i, the Scotsman and many local newspapers, has sold its East Anglia business for £17m in order to focus on key growth areas. The London-listed company said it has completed the sale of Johnston Publishing East Anglia, which owns 13 publishing tiles

19 Dec 2016 09:07

Johnston Press Agrees To Amend Terms Of Debt Facility With Lenders

14 Nov 2016 07:58

Johnston Press confirms late discussions with Iliffe Media

(ShareCast News) - Johnston Press confirmed on Monday that it is in late discussions with Iliffe Media about the potential disposal of certain titles. The company, which completed the £4.25m sale of its Isle of man titles to Tindle Newspapers back in August, has previously announced that as part of

10 Nov 2016 10:54

Johnston Press sees its performance continuing in-line

(ShareCast News) - Johnston Press sees its performance continuing in line with expectations as it focuses on cost cutting to mitigate revenue declines and impact of sterling's weakness on paper prices. "Following the successful disposal of the Isle of Man titles in August, we continue to explore opp

26 Oct 2016 08:29

BROKER RATINGS SUMMARY: Goldman Slightly Less Negative On UK Grocers

11 Sep 2016 15:45

Sunday newspaper round-up: Inflation, MPC, Tesco, Rolls-Royce, Morrisons

(ShareCast News) - At their meeting this week, the Bank of England's rate setters are expected to pause and take stock of the impact on the economy of its recent interest rate cut, while UK inflation is set to continue its modest rise figures are likely to show. While inflation is likely to be boost

23 Aug 2016 15:58

London close: Blue-chip miners, banks push FTSE higher as house builders fly

(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that

14 Aug 2016 17:49

Sunday newspaper round-up: Brexit in 2019, bank regulation, ITV, William Hill

(ShareCast News) - Britain could remain in the EU until late 2019, almost a year later than predicted, ministers have privately warned senior figures in the City of London. Theresa May has been expected to enact article 50 in January, setting in train the formal two years of negotiations before Brex

10 Aug 2016 08:35

BROKER RATINGS SUMMARY: Panmure Raises RSA Insurance To Buy From Hold

4 Aug 2016 11:01

Broker tips: Johnston Press, Direct Line, Hikma Pharmaceuticals

(ShareCast News) - Johnston Press shares plunged on Thursday as Numis placed its rating and target price 'under review' after the company swung to a first half loss. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked

4 Aug 2016 10:00

Numis puts Johnston Press 'under review' after first half results

4 Aug 2016 09:46

Johnston Press swings to loss in first half

(ShareCast News) - Newspaper publisher Johnston Press swung to a loss in the first half, mainly on the back of an impairment charge. For the 26 weeks to 2 July, the company posted a statutory pre-tax loss of £183.7m versus a £2.2m profit the year before, as it booked a £183.6m non-cash impairment re

8 Jul 2016 11:43

Johnston Press chipper on 'i' newspaper readership

(ShareCast News) - Johnston Press is increasing the readership of 'i' newspaper at a clip ahead of management views, with advertising revenue hitting a fresh high in the week to 29 June. The last week's sales showed daily circulation consistently more than 300,000, peaking at 319,000 on 29 June. In

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