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You tipped this to me about a week ago on the MEC board. Like I said at the time it's not a sector I normally bother with, but I did some research over the weekend and it seemed promising. I bought 50,000 at about 1pm - before the RNS - and am well satisfied with the latest news. I think the outlook for these as now improved significantly. Thanks once again.
Hope you both do well with MEC, it just seems a little strange to me. Could that "buy" be DM getting rid of his shares?
that the big investors have suddenly put pressure on him to leave, it's not long since they supported him when the other directors tried to force him out. I think it may be good for the SP in the short-term, but I wonder if there could be any nasty bits in the next trading update.
Looks like I may have called it wrong. However, a profit is a profit no matter how small. lemmink - Thanks, it's not a sector I normally invest in, but I will have a look.
Sold out today at just under £2.06 with a £5k profit and also came out of YELL with a £3k loss. I'm sitting on the sidelines at the moment. I still think both companies are good value, in MEC's case very good, but the market generally just doesn't seem to have any good news on the horizon. I know I could dip out, but I'm more comfortable with cash at the moment and I'm normally a gambler!
The next trading update is due towards the end of October.
The most pleasing part of JPR's statement was that advertising had improved since the reporting period. It was only 3.7% down since the end of June. MEC's advertising revenues were only down 3% in the first 6-months of this year, where JPR's were down 6.3%. Going by those figures there is a possibility that MEC's advertising revenues are no longer in decline. Well that's what I'm hoping for anyway!
I must be going a little crazy, I could have sworn I was answering "mathewthomas4848" but his comments seem to have vanished!
It could hit £1.60 within 3 weeks, it could also hit £2.60 in the same period. A lot depends on what happens in the markets generally. It is fairly easy for me not to worry, I bought 20,000 at £1.81 and I also made a significant amount of money from MEC on a couple of earlier trades over the past year. The markets are down at the moment, but I don't get the same sence of disaster like the end of 2007 and 2008. If anyone is in for the very short-term they may lose, but otherwise I don't think there is to much to worry about. I get the impression your £1.60 guess is all about market sentiment and nothing to do with Mecom the company. Your comments make me think you haven't invested in the stockmarket for very long, but I have seen sentiment change overnight many times.
It's held up well in recent weeks, but with this market it was bound to take a hit sometime. Don't think there is to much to worry about.
"More interesting than Trinity is Mecom, the European newspaper group run by David Montgomery. Ten per cent of the group’s ad revenue comes from its websites, which number hundreds across Europe. Their success suggests Mecom has worked out how to monetise strong positions in small communities through an online “hyper-local” model. On that basis, the shares, at 224p, look cheap."
Large volumes going through - could be an interesting day, one way or another!
I think you may have read it wrong. The 09:44:27 buy was priced at £2.15 and looks like it was just reported late.
Looks like I may have called this wrong. I could take my profit - I've done that twice before - and move on, but it just looks too undervalued. For those in for the short-term lets hope tomorrows papers share my opinion that these are excellent figures.
http://www.guardian.co.uk/media/2010/jul/28/mecom-online-ad-revenue-rise
I think it may even go higher and push towards the £3 mark over the next day or two. I was thinking of selling and taking a quick profit - bought at £1.81 - but I think I'll sit on them for a few years, I've got a feeling they could be a little special long-term. They really are very promising results.
Look like a cracking set of figures from MEC. I might be talking through my pocket, but I would expect a significant rise in the SP. The EBITDA and EPS figures are much stronger than I expected. The future is looking rosy in my eyes!
I thought their results were out on Wednesday!