Member Info for Wednesday

Thanks for your comments Norrab - appreciated. So would you say that your only/your major concern is that there will be a continued fall away in TV advertising? If not, what are your other concerns? My thinking is this does look cheap with good divi coverage and good PE multiplier. I personally (although could be wrong), don't see TV advertising disappearing in the medium/long term - although accept it will be pressed by new mediums.

Thanks for coming back Tom. Guess that you are also not 100% convinced this is cheap, hence your advice. Appreciate no one can ever truly know where the bottom is though. Will have a think, if I am investing seems a shame not to take the divi, as I do think this is a strong company, generating cash who are diversifying away from reliance on NAR in a sector that has experienced a lot of consolidation. I suppose I have a week! :)

Tempted to buy in again myself, but not convinced this has stopped falling. Any advice, for or against would be appreciated. :)

Capita will publish a five-year transformation plan and details of a rights issue with its annual results on April 26, a person familiar with the matter said..... . . The above text is from Reuters, why use the phrase 'a person close to the matter', weird. Surely a company insider, or an individual close to the company would around more professional.

Maybe Ant, as one of the most respected ITV stars, has shorted the share just before he 'self-destructed'? . . Obviously only joking, but do think that Ant, like many similar to him, has a disease that crosses fame and money, even if these can contribute to the individuals fall. Not at all condoning him drink driving, gets all he deserves.

That's what the daily mail article says, the lower from the sky bid may turn attention to ITV. It also mentions sky foothold in Germany and Italy. Which may be a benefit for ITV holders as they own production companies in these regions. Enhance the subscription hub option across Europe, make it cheap enough with original content, and you are a net flix / Amazon challenger. All the foundations are in place, with the advantage that you already make cash profit....

ITV boss Dame Carolyn McCall is this week expected to herald a bounce in the television advertising market. The broadcaster suffered a fall of about 5% in TV ad sales last year as companies trimmed their budgets in the wake of a slowdown in the economy. But its viewing figures for this year will be bolstered by hit shows such as Dancing on Ice and the World Cup in Russia. McCall took charge last month after seven years running easyJet. In the spring she is expected to unveil a new plan to fight back against Netflix and Amazon Prime. ITV is forecast to deliver annual underlying profits of about £840m — in line with its 2016 surplus.

The idea is that the private sector can do outsourcing cheaper than the state. Can also be more innovative and through these efficiencies can win business in similar areas. I have seen outsourcing done really well, have also seen examples of this has been terrible. Read an earlier post where it perhaps was just a case of winning the contract and watching the money roll in. Outsources are a lot more diligent now, wanting shorter contracts and penalties for non-delivery. Companies have not moved with the times on this. FWIW, I do think there is a solid core of a company with Capita, but it does quickly need to get back on track. Not discounting further bad news but long term should not be another Carillion (no losses have ever been announced have they?) all imo. DYOR

Perhaps dropped after the broker re-rate of target price. Should be no significant financial announcement until YE results (unless it is negative / relates to sale), so SP will just keep ticking along until then. Hopefully new CEO can start making plans to make the business a bit more dynamic.

Thanks TLW I understand that the CEO is to consider selling further parts of the company to bring debt into line and concentrate on the core business. This is a 12 year low SP, but FCF has held up well and turnover is still pretty good at 6 month levels (presume will show reduction at full year due to CAS sale)*. *albeit from a very amateur investor! :)

appreciate they has been bad news recently (and a fair few unknowns), but then the share price fell and crucially had resistance at £4. This now seems to have gone and we are on a downward trend despite a contract win. Anyone have any idea why?

Been mentioned earlier about a trading update. Have had a look online and cannot see anything. Has anyone any ideas when this could be? Thanks

Seems to now be happy at going over 1.8, will it keep going on run up to ex divided date?

To be announced on 7th September. Here's hoping it is as per previous guidance.

Thanks Daisy. Anyone know the actual date.

Could well be before my eyes and I can see that last year was 1st September, but can anyone confirm when the full year results are due this year please? TIA

....back in again. Seems cheap with good forward profit and divi. Seem to be expanding staff numbers. Am I missing something, please talk me out of it! ;)

In the results, they announced £400m of FCF. My understanding is that is money earned and can be used as the company sees fit. Also assume that circa £200m has been earmarked for the divi. Assuming the above is correct, where has the other money been allocated? TIA

Thanks for this Firwood, be interesting to see if he maintains his position.

Hi Firwood Where did you get the information about Woodford's fund please (was it off his site)? TIA