The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I hope you are right just cant make sense of the current SP.
on thursday, the BOD must have something up there sleeve. this company should be trading well above current SP. GLA
i have a large holding in this, bought at 62p thinking it would bounce on asset value alone. but hey what do I know. GLA
WHATS HOLDING THIS DOWN ???????????
Newspaper group Trinity Mirror posted a big rise in full-year operating profits, boosted by its acquisition of titles from GMG Regional Media, including the Manchester Evening News. Trinity Mirror, whose portfolio also includes The Mirror, The Sunday Mirror, The People, reported operating profits of £123.3m for the year to January 2, an increase of 17 per cent. Revenues were broadly flat at £761.5m. Pre-tax profits climbed to £101.5m from £72.7m. The previous year's results covered a 53-week period. Trinity said the acquisition of daily and weekly titles and websites from GMG Regional Media has proved highly successful, generating revenues of £50.9m since the deal in March, with operating profits of £5.7m. The group has also invested in a new free weekly business magazine, Greater Manchester Business Week, and website. Trinity cut operating costs by £64.7m during the year and slashed its net debt by £58.1m to £265.9m. Chief executive Sly Bailey hailed a strong performance and said: "Although 2010 proved to be as challenging as we expected, we made good progress in rolling out our new operating model, integrating GMG Regional Media and increasing profitability and margin whilst managing extremely volatile revenue trends throughout the year. "Many of the challenges we faced in 2010 remain in 2011. However, our planned investment initiatives to grow revenues coupled with our focused approach to tightly managing the cost base will help support profits this year whilst positioning the group for growth when market conditions improve." Trinity added that group revenues rose by three per cent in January and February.
Trinity Mirror has emerged as the latest beneficiary of government restrictions on council run newspapers after striking a six year deal with London’s Hammersmith and Fulham Council to publish statutory notices and recruitment ads. It will see the Fulham and Hammersmith Chronicle assume the role from the council’s own paper, h&f news, which is set to be scrapped. The announcement marks a remarkable turn around in the relationship between the Chronicle and the council, which had been subject to a long running “papers not propaganda” campaign with editorials accusing h&f of “masquerading” as an independent title. The Chronicle is currently distributed free of charge to 72,000 homes in the borough. Just last month North Yorkshire County Council agreed to cease production of its own local paper, agreeing to an advertising deal with Newsquest and Johnston Press in its place.
Trinity Mirror chief Sly Bailey has outlined the publisher's plans for paid-for apps but says there are "no plans" for an online paywall across its titles. Bailey revealed that the publisher will launch its first paid-for apps for tablet devices, including the iPad, in the "next few weeks". She also said the company will start to offer advertisers marketing services such as web design, SEO, social media strategy and online PR. Bailey said that readers "have zero interest" in a full paywall model for newspaper content but that the group was set to trial an online payment system for specialist news on some of the websites serving its regional newspapers in April. She said: "We are trialing whether or not there is an appetite by consumers to pay for higher value content, starting with selected business coverage in the regionals." Of the proposed digital marketing offering aimed at advertisers, Bailey revealed: "It is very much the future of local media. Clients are demanding it and we want to be able to develop expertise in those areas." Trinity Mirror acquired Liverpool agency Rippleffect in April 2008 and Bailey revealed that a typical trade customer, after first buying advertising through newspaper or online channels would go on to spend £12,000 to £15,000 on a variety of digital services with the agency. The publisher yesterday posted an operating profit rise of 17 per cent as it continues to consolidate in the regions.
So, things are looking up according to recent reports. Last week RICS reported that there was a marked increase in the number of surveyors who felt that the current quarter would see an improvement in lettings and sales figures. One of the most eye-catching moves in the market came with the announcement from Citibank was to invest over £300 million in the British property market, mainly on behalf of Asian and African investors. This is good news, but it is typical of the lumpy nature of the market in that when the announcement came out it referred to the British market, but in reality it meant London. The capital’s commercial property market has seen a surge in international investment in the past few years thanks to the ongoing weakness of the pound and restricted supply. That is why the value of central London offices rose by 21 per cent during 2010 and why many of London's landmark buildings are now owned by foreign investors.
in less than a month
LONDON (ShareCast) - The chairman of Daily Mail publisher DMGT and the owner of the Express have been in discussions over a possible merger of the two titles, it has been reported. DMGT chairman Lord Rothermere and Express owner Richard Desmond, who were previously thought to have a hostile relationship, discussed the idea earlier this year and will have further meetings later this year, the report says. A merger of the two titles would have a daily readership of 3m, according to Sky News, which broke the story. The report said that Trinity Mirror would be another logical buyer.
DUE SOON DYOR GL
i tend to agree all the bad news is priced in many times over. these guys have a big asset value and will bounce back to 70p farly soon any TO news will see a bigger jump who knows and how do you value a company with assets over £2,60 per share
we will see a lift within a few days to mid 70s imho
actually £2.63 well undervalued imho
from my sums theese have an asset value of £2. seems like they have been hit hard unfairly with recent sp drop.
you must of felt it was undervalued too. this should be above 75p before to long
what ever upgrades/ downgardes i think this is 20% undervalued with its current SP. ANYBODY CARE TO COMMENT
Lots of blue trades coming through anyone got a l2 price
Real Estate Opportunities plc Cancellation of listings of ordinary shares and 7.5% convertible unsecured loan stock 2011 on the Irish Stock Exchange and the Channel Islands Stock Exchange. Real Estate Opportunities plc (the "Company") has applied to the Irish Stock Exchange (the "ISE") and the Channel Islands Stock Exchange (the "CISX") to cancel the Company's listings of ordinary shares (ISIN: GB0030364995) ("Ordinary Shares") and 7.5% convertible unsecured loan stock 2011 (ISIN: GB0030365182) ("CULS") on the Official Lists of the ISE and CISX and of their trading on the ISE and CISX respectively. Application has been made for the Ordinary Shares and CULS of the Company to be removed from the Official Lists of the ISE and CISX with effect from 16 March 2011. The Ordinary Shares and CULS will remain listed (standard category) on the Official List of the UK Financial Services Authority and will continue to trade on the main market of the London Stock Exchange plc
LONDON (Dow Jones)--Google Inc. (GOOG) is paying EUR99.9 million for Dublin's tallest office building, in a deal agreed Thursday with Real Estate Opportunities PLC (REO.LN), an Ireland and U.K. property investment fund. The 67-meter building was built by REO investment adviser Treasury Holdings between 2008 and 2010, as commercial property values plummeted in Dublin. After running out of cash to complete the project, Treasury Holdings got working capital from Ireland's National Asset Management Agency, the government-body that has bought up large slugs of banks' impaired real estate development loans. REO Chairman Ray Horney said the sale is one of the largest in Irish commercial property for several years, "and the company believes it has achieved a very good price in the current market environment." Construction on the building completed in January and the building is currently unoccupied. The Montevetro building, in Dublin's Grand Canal Dock district, has 15 stories, 210,000 square feet of office space and its own rail station. It has been one of REO's major holdings, along with London's Battersea Power Station. The value of REO's Irish property portfolio fell 51% in the 14 months to Feb. 28, 2010, as excess supply and a contracting economy put many developers out of business. In the six months to Aug. 31, 2010, the decline in the EUR739 million portfolio's value narrowed to just 2.9%.