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Showing posts with label Daily Mail and General Trust. Show all posts
Showing posts with label Daily Mail and General Trust. Show all posts
Wednesday, February 10, 2010
Monday, March 23, 2009
DMGT Propped Up by B2B
DMGT is seeing a pretty horrid melt down in regional newspaper revenues but claims the B2B division is holding up well. In part this is another company with a big trade show exposure (Like United Business Media) which is holding up better than companies with a bigger print exposure. But even B2B, if we decode the update from management, is having a tough time.
The announcement claims that B2B revenue is up 15% in the first five months of the year is caveated by a note that this is mianly due to exchange rate movements. In the five months at issue the dollar sterling exchange rate has moved 24%. My guess is that in real terms, b2b revenues are down.
Whilst B2B is holding up better than regional newspapers for now, let's just hope that what is happening in local papers is not a vision of the b2b future to come.
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The announcement claims that B2B revenue is up 15% in the first five months of the year is caveated by a note that this is mianly due to exchange rate movements. In the five months at issue the dollar sterling exchange rate has moved 24%. My guess is that in real terms, b2b revenues are down.
Whilst B2B is holding up better than regional newspapers for now, let's just hope that what is happening in local papers is not a vision of the b2b future to come.
Friday, March 13, 2009
Euromoney Not Working as Much
Just a few months ago, Euromoney was bragging about how well it was doing. Now it is asking staff to take unpaid leave. Either the trading in the company has seen a horrible drop or this is opportunism by the management to save some money using the excuse of the downturn. My experience is that in a downturn everyone has to work harder; asking people to work less seems perverse.
The share price is down 55% on a year ago. Profit last time out was around £43m. Market cap is around £180m which some might think a low multiple for a business which has substantial subscriptions income.
The drive to save costs at Euromoney could be as much to do with the needs of major shareholder DMGT as it does with Euromoney itself.
It seems as though even paid information company employees cannot consider themselves immune from the current malaise.
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The share price is down 55% on a year ago. Profit last time out was around £43m. Market cap is around £180m which some might think a low multiple for a business which has substantial subscriptions income.
The drive to save costs at Euromoney could be as much to do with the needs of major shareholder DMGT as it does with Euromoney itself.
It seems as though even paid information company employees cannot consider themselves immune from the current malaise.
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