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http://www.stockopedia.co.uk/content/small-cap-report-gbo-tmmg-cre-api-sal-cdy-70457/ Mission Marketing (TMMG) looks potentially interesting. I think this is a good time to be buying into cheap, cyclical shares, such as PR & Marketing companies - several of which are still on cheap multiples of earnings. They have operational gearing, which means that when the economy improves (as I believe is likely for 2013), then profits rise disproportionately fast when increased turnover is achieved (due to most costs being fixed, so extra turnover drops through to much higher profit). They put out a nice bouncy RNS this morning, gushing about a new contract win (Harley-Davidson) for their subsidiary "Big", based in Leicester. There are no figures of course, that would just complicate the message! Someone was telling me the other day that they never use advisers based in London, because if you use people based elsewhere in the UK, you get the same service for a much lower price. Worth considering as a general point. TMMG is on a fwd PER of only 5.8, but it has quite a bit of debt, equivalent to just over 50% of the mkt cap, so on a crude basis that would take the PER up to nearer to 10, which is worth considering, but not amazingly cheap. Quite low margin work too, and no dividend, but could be a nice cyclical recovery investment over the next couple of years? I bought into Creston (CRE) recently, who operate in a similar space, but the beauty of Creston is that you get a lovely 4% dividend yield whilst you wait for the shares to go up.
Possibly this one http://www.youtube.com/watch?v=CdD0-6DNyQ8
Did anyone see the BF advert on Corrie last night? Any good? Short/long? Stick with you? Are you now planning a holiday to France? Not critical but interested to hear of feedback BL work. Thanks in advance
I think is because of the floods. Something that I've noticed with these fickle short term minded markets is buy carpetright when floods arrive and short Halfords. Do your own research When the next drought comes then maybe that's the time to go short.
that sparked recent buying but might raise awareness of group http://www.4-traders.com/THE-MISSION-MARKETING-GRO-4006018/news/The-Mission-Marketing-Group-plc-chairman-wins-lifetime-achievement-award-15549832/ The Mission Marketing Group plc : chairman wins lifetime achievement award 11/26/2012| 11:29am US/Eastern Following forty years of service to the marketing and advertising industry David Morgan, executive chairman of The Mission Marketing Group plc (the missiontm), received a Lifetime Achievement Award at the MiNetwork Awards this month The award celebrates David's achievement in the marketing and advertising industry since he left a London firm for Devon, where David started integrated Agency Bray Leino almost forty years ago. Since then, David has gone on to become executive chairman of the missiontm, which now combines ten agencies across the UK: Addiction (acquired in September), April-Six, balloon dog (acquired in October) Big Communications, Bray Leino, RLA, Robson Brown, Story, ThinkBDW and Yucca. David oversees the missiontm board, comprising of the heads of each Agency. The Group now employs over 800 staff in 17 offices across the UK. Richard Draycott, managing director of MiNetwork, said: "The MiAwards Lifetime Achievement Awards recognises somebody who has made a huge impact within the UK's marketing industry and through his work and dedication over many years, David has certainly done that. "By launching and building Bray Leino into one of the UK largest independent Agencies he showed that Clients didn't need to go to London to get big agency thinking. His achievement with the missiontm in recent years has again proven his incredible business acumen and his overall commitment to improving the quality of marketing services right across the UK. "Over the years David's work has offered hundreds of people opportunities to enjoy fruitful caterers in advertising and marketing and many owe his a great debt of gratitude," Richard added. In its fourth year, the MiAwards aims to identify and highlight the very best in marketing, media and communications agencies, teams and individuals working in every city across the UK.
Yeah, its no secret that the group is going to make acquisitions over the next few months, my only concern is how the deals will be funded. I think that many people have already bought in anticipating dividend next year but you're right, many more will be made aware once it appears listed as a dividend paying company. However the company is not generating much cash so not sure how this is possible just yet. Prospects for the agencies are good imo, decent clients, variety of product/service offerings, quality management, cross selling opportunities from acquisitions and existing group companies amongst other things. I sold on results day in September and bought back around 28p a few weeks back, hoping a clear uptrend develops on charts, the one year chart has already started. Is this the start of rise to new high?
over last two days. Director buys? Some good news to come?
One or two more acquisitions expected in next three months. No mention of how they will finance deals, debt through share sale? http://www.thedrum.com/news/2012/11/05/mission-chairman-tells-drum-expect-further-acquisition-announcements-coming-months
JP Morgan Cazenove initiates overweight on Restaurant Group, target price 395p
Strong rise today, some large buys. Anyone else think this is a potential take over target?
I've been wondering the same thing, wont be selling before hand due to the previous positive trading update.
Its no secret the upcoming films for this year are likely to bring in crowds to the cinemas but the film "Ted" (released 1st August in UK) pulled in $54.1m over the weekend in the US. Not sure many had this in the list of big films this year, very pleased as a shareholder to see some great films amongst other great films for 2012. PS the director is Seth McFarlane so any Family Guy fans would enjoy (of which there is a lot in the UK)
Depending on how you value the star of the group, Bray Leino bring in £57.2m of the group revenue (£116m), the second largest by a significant distance is Think Bdw Ltd who bring in £35m. Obvious but thought i'd add. Would also be interested to know the approximate dividend yield, although here for growth, this could be an income share for the future
Great update, particularly like "As the Group further reduces its debt levels, the Board anticipates that it will be able to declare a dividend next year" amongst other items. All the best
There seems to be a huge difference in share price from this time last year, is there low expectations for the interim results on 31st July? I understand analysts aren't expecting massive growth but does that warrant a 25% lesser market cap? Or is it something else like caught up in a technical **** storm?
Hope that this large acquisition will put a focus on the sector as investors look for the next potential target. 4th largest acquisition in this sector ever, biggest deal since 2006. All the best
For once its not WPP buying..... Interesting to see that Dentsu chose Europe and not US, S.Amercia, Africa.
LONDON, July 12 (Reuters) - Japanese ad giant Dentsu is buying marketing group Aegis for 3.2 billion pounds ($5 billion), the biggest deal in its history as it seeks to expand outside its home market with the British firm's European and digital business. Revealing how badly Dentsu needs growth outside its shrinking home market, it will pay a 48 percent premium to secure the takeover after European groups WPP and Publicis snapped up rival agencies in recent years. The price represents 20 times full year 2012 expected price earnings, compared with the 10-11 times at which WPP and Publicis trade, said analyst Ian Whittaker at Liberum Capital. The deal means Japan is the second most active overseas acquirer this year with more than $20 billion worth of deals, behind the United States but surpassing all major European nations and China in outbound M&A. Analysts described the deal as a perfect strategic fit after Aegis Chief Executive Jerry Buhlmann turned the group around to grow in Asia Pacific, the U.S., emerging markets and digital marketing in recent years. "The quality of the offer, the strong likelihood of deal certainty, the fact the offer was cash and the fact it was a meaningful serious approach meant that we entered bilateral discussions with them," Buhlmann said of Dentsu's approach. Aegis, which has Coca-Cola, GM and Disney on its client list, has long been seen as a potential takeover target, although it had for years been linked to the French group Havas as French financier Vincent Bollore was the largest shareholder in both. Aegis has performed strongly since selling its Synovate market research unit last year to focus on the faster growth areas of media buying and selling and digital communications. In 2011, the group increased the proportion of its revenues from digital to a sector-leading 35 percent. Analysts said the deal underlined the value present in advertising companies despite a tough economic climate and could lift the whole sector. "We see the deal as underlining that the advertising sector still represents significant value," Bernstein analyst Claudio Aspesi said. "The premium paid by Dentsu suggests they are confident of continuing long term growth for Aegis, despite recent negative commentary on the outlook for the European ad market." SHRINKING SECTOR For Dentsu, the deal enables it to find new growth outside its home market, which is eroding. Though the company dominates traditional Japanese print and broadcasting sectors, overall ad industry revenue fell 2.3 percent to 5.7 trillion yen ($72 billion) in 2011 -- the fourth annual contraction for an industry that in the past decade has shrunk by almost 6 percent. "Dentsu and Aegis will be the market leader in the Asia-Pacific region, enjoying a strong presence across Europe and the fastest growing agency network in the US," President and CEO of Dentsu, Tadashi Ishii, said. "In re
Doesnt take many sells for this to fall
Well you'll find that alot of companies have spent the last few years strengthening their balance sheets so have more cash available to spend. The main issue is that banks will not lend as often as they once did to back acquisitions although we're hoping with all this money being pumped into the banks this will get them lending again however not seen much of that yet. One thing is certain Private Equity are buying again and on the look out for decent portfolio companies as well as companies to bolt onto existing ones. Make what you want of that