Tenobas
06 Apr 2019
Operating expenses Oh, mistakes! Revenue after deducting Cost of Sales £800m rising at 1% p.a. Profit before tax 2019 8m 2020 16m 2021 24m 2022 32m 2023 40.5m But then if investment in their own fibre can be minimised and the yield curve stays down maybe financing costs can be brought down but that pot is only 48m p.a. I can think of threats big rise in RPI brings about rising Openreach prices Expansion into new businesses Still quite a good investment .
Tenobas
06 Apr 2019
Operating expenses Talk Talk’s expenses excluding depreciation fall into two halves, roughly equal. Cost of Sales Operating Expenses Both are steady despite increasing revenue. I would guess that Operating Expenses can be held steady if the number of subscribers continues to rise at about 5%. I would guess that 5% subscriber growth would be about 1% revenue growth. Obviously there has to be a lot of variation from this prediction. This is the basis of the current valuation. Since profit before tax no is close to zero the future profile looks like 2019 16m 2020 32m 2021 48m 2022 64m 2023 81m … I think that that makes a market cap of 1.3bn look cheap. Maybe the main issue is the threats to this business. I do not see any credible threats. Market share – guaranteed. New technology? Fibre to home? Satellite?, 5G? – No New entrants, Amazon, Netflix, – No Hacking problems? – No Somebody is going to want to buy this revenue stream eventually.
Tenobas
16 Nov 2018
Exceptional Costs To me, in the results the presentation of exceptional costs looks to be very hard to understand and I cannot be convinced that such large costs can all be exceptional.
Rhino1958
04 Jul 2018
Director & Fund buys With recent director and fund buying plus the dividend this maybe worth more than analysts think. There has to be a good reason why TT pulled out of the B to B sale to Daisy
nk1999
15 Mar 2018
Macquarie ... have upgraded TalkTalk from Neutral to Outperform, with a target of 150p.SP up 3.6% today to 109.4pnk
Ripley94
15 Feb 2018
Re: City Insiders Took the Gray Newman steer and bought in for 101p
Rhino1958
13 Feb 2018
Re: Tosca Again today
Ripley94
12 Feb 2018
Re: City Insiders 10/11/2017.Interesting sell rec from daily mail tnp.I read Gray Newman on S.P . blog takes another view that's its "a recovery play".A placing @ 107p on the 8th Feb . Price @ 105 Friday. ( from posts on this bb )
takenoprisoners
11 Feb 2018
City Insiders [link] and please dyor
towerman
10 Feb 2018
Re: Who got mugged at 107p The benefit of the SP dipping below 107p is that it closes down any moaning about institutions/people being excluded from "the rights issue that never was".In effect, gives Dunstone and co. a clean pair of hands as everybody had the chance to fill their boots on Friday at 105p.Institutions are crowing, as the lightning deal robbed them of their usual fat fees for doing SFA.
towerman
08 Feb 2018
DT article Goes fairly in depth re today's Q3 update:[link]
twotonetyrone
08 Feb 2018
Re: Worst time ever for a Placing Some substantial director participation @ 107p
nk1999
08 Feb 2018
Re: Worst time ever for a Placing Placing completed at 107p.Some posters waiting for 70-80p will need to wait a bit longer, I think.nk
II Editor
08 Feb 2018
NEW ARTICLE: Why Sophos and TalkTalk just plummeted "Markets remain in unforgiving mood if the reaction to today's trading statement by cyber security specialist LSE:SOPH:Sophos is anything to go by.The company, which has a portfolio of cloud-based products that protect over 280,000 organisations ..."[link]
takenoprisoners
08 Feb 2018
Worst time ever for a Placing In the midst of a market volatility.Dow Jones is all over the place.Institutions you would expect will have to factor in further falls you would presume.Do you commit or just wait for another Dow Jones tremor.Imvho and please dyor.
