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Reach (RCH)

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dealtn
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Reach (RCH)

#269040

Postby dealtn » December 4th, 2019, 1:51 pm

Following the well received Trading Update released on Nov 29th we get another RNS today showing the new CEO Jim Mullen purchasing 100,000 shares at a price of 100p. The shares are currently trading slightly higher at levels last seen consistently in the summer of 2017 (since which time dividends, for those that see them as important, of 14.44p have been paid).

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Re: Reach (RCH)

#269085

Postby Breelander » December 4th, 2019, 5:30 pm

dealtn wrote:Following the well received Trading Update...


This one: https://www.investegate.co.uk/reach-plc ... 00030700V/

we get another RNS today showing the new CEO Jim Mullen purchasing 100,000 shares at a price of 100p...


Here: https://www.investegate.co.uk/reach-plc ... 00056200V/

dealtn
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Re: Reach (RCH)

#269593

Postby dealtn » December 6th, 2019, 1:24 pm

All the more interesting with this new RNS showing the granting of nil paid options under the LTIP to Jim Mullen too. With incentives such as these you wouldn't normally expect to see additional, real cash, purchases by a Director so the fact he has bought 100,000 shares demonstrates confidence you would argue I think.

Share price now up further to above 110p

https://www.investegate.co.uk/reach-plc ... 00058385V/

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Re: Reach (RCH)

#285130

Postby dealtn » February 18th, 2020, 10:32 am

JP Morgan taking a stake above the 5% required for a notification. All eyes on next week's trading update and "strategy presentation".

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Re: Reach (RCH)

#286638

Postby dealtn » February 25th, 2020, 3:20 pm

Good set of results out from RCH

https://www.investegate.co.uk/reach-plc ... 00058223D/

and further announcement on strategy

https://www.investegate.co.uk/reach-plc ... 05058219D/

A business the market had written off as doomed to failure continues to be cash generative, so much so that the "dead weight" of its debt and Pension Deficit, have been significantly addressed.

Up over 200% on the year yet still has a P/E < 5

dealtn
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Re: Reach (RCH)

#374815

Postby dealtn » January 8th, 2021, 4:07 pm

It seems I missed posting the November Trading Update which is here

https://www.investegate.co.uk/reach-plc ... 00016932G/

but more importantly the latest update is

https://www.investegate.co.uk/reach-plc ... 00029925K/

which is a significant beat on market expectations. The company is now being seen as a digital provider, and is acquiring a following, primarily it seems amongst smaller and retail investors, on that theme. For many it is still a physical newsprint provider, with a legacy pension scheme attached (or the other way round!) but a rerating from the low p/e old industry model to a higher p/e growth model has been, and continues to, occurring.

Perhaps one of more fortunate selections as I took the decision to sell at 170p close to the start of the year when we were all unaware of the (financial) impact of Covid. It sank as low as 50p! I bought back in at 122p in November, although only a 1/2 position and it is now >200p. It could have been so much better, but also a lot worse!

I remain a holder as the change in story, and valuation still has "legs" in my view. A fuller understanding will occur when we get the real numbers, and the cash flows and pension valuations, which won't be apparent from a trading statement.

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Re: Reach (RCH)

#374839

Postby johnhemming » January 8th, 2021, 4:40 pm

dealtn wrote:but a rerating from the low p/e old industry model to a higher p/e growth model has been, and continues to, occurring.

It was one of the stocks on the Stockopedia list I thought was potentially interesting so I bought some earlier in the week and also a few more today (although the price has gone down since today's trade). If we say it has a profit of 130M on a market cap of 638 that is a PE just under 5. Hence it is some way away from being on a higher p/e growth model as yet.

However, I do tend to agree it has potential. They do seem to have made some progress on migrating towards digital.

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Re: Reach (RCH)

#409814

Postby dealtn » May 6th, 2021, 2:16 pm

Latest Trading Update

https://www.investegate.co.uk/reach-plc ... 00036915X/

"slightly ahead of expectations".

For the first time the Digital Revenues exceed Print Revenues. Those that didn't think it possible to transform the newspaper business into a modern world might need to adjust their beliefs.

Disc: Long


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