Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Liked this bit the most TCL also anticipates that total revenues for public cloud services will “increase rapidly” over the same period by more than three times to $82 billion, as more end users come on-board. Read more at http://www.channelbiz.co.uk/2016/01/12/cloud-pricing-for-enterprises-falls-by-two-thirds-says-tcl/#kHxQPyOU3Cu1CdBJ.99
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/e695d40a-9dac-11e5-b45d-4812f209f861.html#ixzz3tl6zEf9A Shares in the owner of Peppa Pig have fallen by nearly a third after the company announced a refinancing deal that will significantly increase its interest repayments. Entertainment One, a TV distribution and production company, was already under increased scrutiny from investors after two sizeable acquisitions this year. More ON THIS TOPIC Profits rise at Peppa Pig maker Entertainment One ups ‘Peppa Pig’ stake Canada Pension Plan expands eOne stake Peppa Pig looks to become global star IN MEDIA Disney doubles stake in Vice to $400m Amazon adds Showtime and Starz to bundle Publicis loses most P&G US accounts China to be world’s largest movie market Sign up now firstFT FirstFT is our new essential daily email briefing of the best stories from across the web The company announced on Friday £285m in new debt to replace its existing facilities. Its shares fell 15 per cent on Monday and were down a further 20 per cent in Tuesday trading, wiping about £300m from its market value. Shares in the company were trading down almost 22 per cent at 138p on Tuesday, the lowest level since late 2012. Entertainment One has sought to tap the demand for content among broadcasters, acquiring majority stakes in the Mark Gordon Company, the maker of medical drama Grey’s Anatomy, in January, and in Astley Baker Davies, creator of Peppa Pig, in October. The debt refinancing led analysts to cut their earnings per share estimates for 2017 by about 9 per cent. Cash flow remains negative, partly because the company invests in films and programmes months before they generate revenues. Its original backer, Marwyn Value Investors, sold its remaining stake in September. “We have had four reasons to trim [share price forecasts] this year,” said Malcolm Morgan, an analyst at Peel Hunt, pointing to the two acquisitions, Marwyn’s stake sale, and a moderately downbeat trading update. “We would love to see a little bit of stability returning.” The new, seven-year debt will have an interest rate of 6.875 per cent, compared with the current coupon of 4.3 per cent. “It doesn’t seem long ago that the company commentary on funding was that senior debt would be extinguished in the near future. Here we are with the creation of a seven-year £285m senior note,” Mr Morgan said. Analysts at Canaccord said that the new debt could be used for another acquisition but that “the share price response to recent deals has not been favourable”. The broker said: “Conversations with investors suggest management needs to demonstrate its
I wonder what the naked trader has dome about his eto shares. Have to wait until 17th though. I feel this has just been dragged down to the rights issue price, which can often occur. Hopefully we can have a xmas rally back up into the 200s
Got your 310 this morning Tim. How good do you think these half year results will be. They said 'both revenue and profits expected to be materially ahead of the comparative period last year' sounds very promising but was not expecting this much of a rise so quick.