31 Jul 2015 16:00
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Don't have an account? Click here to register.Numis reiterates 'buy' on Trinity Mirror after trading update
Fri, 16th Dec 2016 10:43
(ShareCast News) - Numis reiterated a 'buy' rating and target price of 210p on Trinity Mirror after the British newspaper publisher reported an "encouraging" trading update on Friday.While Trinity said it sees group revenue falling by more than 8% like-for-like in the fourth quarter, it said its performance for the full year will be "marginally ahead" of expectations. Numis also noted that the decline in revenue marks an improvement on the third quarter's 9% fall.The company said publishing revenue is forecast to dip 8% in the last three months of the fiscal year as a 10% slide in print offsets an 8% increase in digital. Print advertising revenue is expected to decrease by 17% while circulation revenue is estimated to dip 5%.Numis raised its lower end forecasts for full year pre-tax profit and earnings per share by 5% to £131.0m and 36.8p, respectively. The broker said an expected net debt of £35m by year end was better than its estimate for £87m, aided by disposals."We retain our Buy recommendation and view Trinity Mirror shares as materially undervalued compared with our price target of 210p," Numis said.
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31 Jul 2015 15:25
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23 Jul 2015 07:22
BUZZ-Daily Mail: worst day in 6 yrs as warns of weaker ad markets
** Daily Mail bottom of the Stoxx & poised for biggest one-day drop since April 2009 ** Co sees "marked deterioration" in British print advertising market meaning FY to be at lower end of expectations ** Stock down 8.1% at levels not seen since mid March in volume at a fifth of 90-day
Read more23 Jul 2015 07:21
UPDATE 1-Daily Mail lowers guidance as advertising markets worsen
(Adds analyst reaction, shares) LONDON, July 23 (Reuters) - The publisher of the Daily Mail newspaper and website said it had seen a "marked deterioration" in the British print advertising market that would result in full-year results coming in at the lower end of expectations. Total
Read more23 Jul 2015 06:18
Daily Mail lowers guidance as advertising markets deteriorate
LONDON, July 23 (Reuters) - The publisher of the Daily Mail newspaper and website said it had seen a "marked deterioration" in the British print advertising market that would result in full-year results coming in at the lower end of expectations. It said total underlying advertising revenue
Read more15 Jul 2015 15:17
Trinity Mirror executive arrested in UK phone-hacking inquiry
LONDON, July 15 (Reuters) - An executive from Britain's Trinity Mirror newspaper group was arrested on Wednesday in connection with a police investigation into allegations of phone-hacking by journalists on the publisher's papers. London police said detectives from Operation Golding, an inv
Read more26 Jun 2015 11:53
UPDATE 2-Trinity Mirror doubles cost-cut target as print ads continue slump
* Estimates H1 revenue fell 11 pct * Still sees FY profit in line with expectations * H1 print ad rev down 19 pct, circulation rev down 6 pct * Digital publishing revenue up 26 pct * Shares down 3.8 pct (Adds analyst comments, details, updates share movement) June
Read more26 Jun 2015 10:10
26 Jun 2015 09:28
Trinity Mirror slumps on doubling of cost cuts and revenue warning
Trinity Mirror dropped nearly 4% on Friday after the company said it has doubled its targeted structural cost savings for the year to £20m due to a more challenging revenue environment. "This coupled with ongoing cost mitigation actions and continued investment to drive digital audience and revenue
Read more26 Jun 2015 08:26
BUZZ-Trinity Mirror: down on H1 revenue warning
** British newspaper publisher Trinity Mirror down c.5 pct, one of the top percentage losers on the LSE ** Sees an 11 pct drop in H1 revenue as print advertising markets continued to remain challenging ** Cost saving target has been increased to 20 mln stg from 10 mln stg ** Bar
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