Member Info for Toad1957

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I'm on the Island and the properties in the EHG are busy. No "facts" to support this but an observation on the ground. Added flights from LHR, Manchester and Brum providing good numbers of tourists on the ground. Plenty of Canadians around as well. Let's hope EHG is benefitting. Daphne's was hard to get into.

Next Fifteen Communications saw pre-tax profit rise 50 per cent to £24.2m ($30.1m) in the year to 31 January, boosted by growth in the US and higher margins elsewhere, and aided by acquisitions and favourable exchange rates. Chairman Richard Eyre: organic growth, acquisitions and exchange rates helped performance Full-year revenue at UK-listed Next 15 - which owns PR shops Bite, Lexis, Text100 and The Blueshirt Group - rose 32 per cent to £171m ($212.6m) after the group made four acquisitions in the period, including tech PR agency Pinnacle and content marketing business Publitek. Growth was 10 per cent on an organic basis. Underlying earnings (EBITDA) rose 51 per cent to £29m ($36.1m). (Figures exclude factors such as acquisition costs and other charges). Significant clients wins in the period included LinkedIn, GM and KPMG. The company described 2016 as "a period of exceptional progress across the group", adding that it had made a "good start" to the new financial year with "encouraging signs across our brands". Next 15 chairman Richard Eyre said: "The results for the financial year to January 2017 were helped by forex [foreign currency exchange movements], but reflect strong organic growth, judicious and effective acquisitions and continued organisational efficiencies in an entrepreneurial culture. Current trading reassures the board that the outlook for Next 15 continues to be positive." Net debt rose from £6.6m ($8.2m) to £11.4m ($14.2m) in the period, although Next 15 said its balance sheet remained "healthy", citing its debt-to-earnings ratio. Acquistion costs totalled £21.6m ($26.9m). Regional breakdown Revenue in the US rose 28.1 per cent to £107m ($133.1m), with organic growth of 12.6 per cent. Profit margin exceeded 20 per cent, although it was hit by the performance of its newly acquired ad agency Story Worldwide. "M Booth and Beyond US have had impressive performances whilst OutCast, Connections Media and Bite US have continued to deliver solid results," Next 15 said. The company said a "series of operational improvements" led to higher operating margin outside the US. "We have improved the efficiency of a number of our UK businesses whilst acquiring high-growth, high-margin agencies in Publitek, Pinnacle and Twogether." UK revenue grew 52.7 per cent to £42.6m ($53m), with adjusted operating profit more than doubling to £8m ($10m) and adjusted operating margin increasing from 13.6 to 18.9 per cent. Next 15 said there was an "improved trading performance" in EMEA as it continued to focus on "markets of potential scale". Revenue rose 11.5 per cent to £7.2m ($9m) and operating profit increased to £0.6m ($0.8m) at an improved operating margin of nine per

I've never sure that a mainstream builder would know what to do with them. There is a strong entrepreneurial streak at INL and as the founders would move on in the event of a sale - that would present a barrier to purchase. However I have held these for 4 years and when I retrace the increase in stock as I've reinvested the dividends - I am not sure I care!

This morning's RNS shows that INL remain focussed on their strategy and are delivering in spades. I am wondering if this is going to stretch cash though - but other than that the pipeline is best described as "rich". The company is going to be worth an awful lot more as time moves on. It remains under valued. Good news and I am sure the interims next Tuesday will show our company going from strength to strength.

28th March

Does anyone know the date?

#shabby all round.

Yes, the delay is gnawing away at me too. In past years its been as early as January. One can only hope that they are saving up some good news. Hope is not a word I like to use in relation to investments.

I can only agree GT. Fact is that the Board cannot buy anything else with the PTCM stock, they have no cash and they can't borrow anymore. The story that by selling you were getting in on the ground floor worked for a while. But of course the stock is now not on the third or fifth floor, it's in the basement which anyone selling will have spotted! So the only alternative is to burn cash on hiring. No argument with that strategy but if correct any gains from new business and the currency swing will be absorbed by the new hires. I just wish the Board would treat their (our) own business to some decent PR. As I have said here before its the Cobbler's children story. Shameful that they cannot devote some resource to this. Anyway - jam tomorrow!

Hard not to agree, they are not showing the faith we all are.

Some mates work for the Group and indeed, as you say, some intel can be garnered from following social media. Also I know some of their competitors and the feedback is that Porta are winning and retaining some good clients. They are sure recruiting like mad. Lets hope they are controlling those staff costs - some of those guys don't come cheap. You say lack of trades is not a worry but the stock won't move unless the story is told. We need buyers. Newgate et al do it for clients but it seems to be the cobbler's children syndrome. Agree on loan cost. Bloody loan sharks would be cheaper.

GT, thanks for that. Yes we all agree this should be the year that Porta sorts itself out. The fundamentals are all good and I understand trading is pretty good. But the story is just not being told by the Group, a crime for an IR/PR firm, and the lack of trades is almost embarrassing. The brokers clearly think its a problem child. Until the Board put their hands in their pockets and buy and/or reschedule the debt then there will be little or no action. The Board can't say they are in a closed period for ever! I worry too about Red Leaf - the sale of Porta stock by the leaders, why and when they did has never been explained. Its 3 years almost to the day since the Daily Mail had Porta as a pick of the year with a target price of 21p. I bloody wish!

Apropos a merger or sale - I think the directors would resist at anything like the current valuation. We know its worth more than it says on the ticker and so do they. They were buying shares at 18p never mind the current sale of the century. An offer of �25m would represent a decent premium, pay off Bob and still be as cheap as chips. They would and should say "no". The talent in the business driving the fees far outweighs that of the board most of which is tired and suffering from a lack of direction. But give Steff and Gavin time and they will drive the numbers up and in course the market will wake up. Ironically they needs some decent PR.

GT Yes, I agree, Porta lacks North America in particular so they are constrained by that. And of course, as we shareholders know to our cost, Porta is worth next to nothing at sub 5p. Anyone making an offer would get a stonkingly good business for under £20m even allowing for the usual premium. If I were advising Bell Pottinger - Porta would be on the list. Their petty cash tin could be used. Job done.

Bell Pottinger new strategy - its not now for sale - but instead needs to grow quickly. So a quick way for a decent financial PR plc to achieve that is....

Well Porta comes with Newgate for a song! It would be a steal at these prices. https://www.ft.com/content/5c5bde78-c2dc-11e6-9bca-2b93a6856354

I've stopped buying as the lack of news is unnerving. My last trade was 100k at 3.4p. It's stuck at 4p and i can't see it moving much until there is news on a refinance. The coupon paid to Bob is draining the company of cash and, for all I know, morale. I remain positive about this business but a sign from the Board would help!

Gavin is pretty active on Twitter and he looks to have been instrumental in getting CEO's through the doors at Porta. They ran a well attended seminar at Porta Towers with VMA. Harder to see what Steffan is up to. Let's hope its not too much at the PRCA which is both draining and largely unproductive. If he is pitching that is great. The London PR market is better than most commentators give credit for. Yes the Financial sector in the Capital is not booming but that is the point in having other income streams and other territories. The worry about debt will not go away until Messrs Wright and Golembiewski pay off Bob using cheaper money. So lets hope they give Bob and the rest of us some Xmas cheer. God knows the share price needs an injection. The trades have been almost non-existent of late. More pitching and winning please Porta!