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Time Out Group – open offer raises £2.1m… but what was target? And...

2020-06-09 11:27:18

Time Out (TMO) has updated that “6,135,967 new ordinary shares were taken up under the open offer, including open offer shares applied for pursuant to the excess application facility, raising gross proceeds of approximately £2.1 million”. The shares have currently responded trading at around 40p...


Time Out Group – after placing only in October, former Woodford pick “will review its funding and ability to manage its cost base”…

2020-03-16 11:39:49

Time Out Group (TMO) has updated including that “it is only in very recent days that we have observed any change in footfall to the Time Out Markets and delays to advertising campaigns”. Though now also…


Time Out Group – former Woodford pick argues trading ‘encouragement’… but it’s an EBITDA warning…

2019-12-05 15:45:49

Time Out Group (TMO) commences a trading update with that it “is encouraged by the early trading of the five sites opened in 2019” and concludes that it “remains on track to reach the key milestone of profitability in 2020”. The shares are though currently below 125p – a few percent lower on the back of today’s update…


Time Out Group – former Woodford pick argues new Markets opening follow early “success”. Hmmm…

2019-11-22 08:20:28

Time Out Group (TMO) “is pleased to announce that Time Out Market Chicago opens”, a week after being “pleased to announce that Time Out Market Montréal opens”. These, and Miami and New York (May) and Boston (June) before them, are noted to be “following… success… Time Out Market opened in 2014 in Lisbon” – and the shares have recovered to a now 126.5p. Was Woodford - albeit eventually, for the wrong reason and at a lower price - still correct to sell?...


Time Out Group – interims, Woodford (eventually) correct to sell? (& for the wrong reason and at a lower price, natch)…

2019-09-26 15:00:42

Time Out Group (TMO) has announced half-year results from what it argues “has been a transformational period… with the opening of three new food and cultural markets in North America. Combined with the ongoing success of Time Out Market Lisbon, this has driven H1 net revenue growth of 72% for the Time Out Market business”. The shares have though responded little changed at around 128p; how has Woodford got on with this one?…


Time Out Group – should have listened to us again, Neil Woodford you loser & forced seller!

2019-06-10 14:59:46

“Holding(s) in Company” announcement from Time Out Group (TMO) shows last week Woodford Investment Management reduced its holding from 16.06% to “less than 5%”. The shares then falling from just above 90p to just below, and a circa £120 million market cap…


Time Out Group - Neil Woodford dog argues “rolling out this successful format”. Really?

2019-05-31 11:40:36

Time Out Group (TMO) “is pleased to announce that Time Out Market New York opens to the public today, bringing the best of the city under one roof, based on the editorial curation Time Out has always been known for”. The shares though are still sub 95p – comparing to a 150p June 2016 IPO…


Time Out – 2018 results argue “significant progress”… but it’s again vast cash guzzling from another Woodford dog

2019-03-28 04:30:34

Media and food and cultural markets group Time Out (TMO) has announced results for 2018, with CEO Julio Bruno emphasising “in light of the progress made in 2018, we are confident in the outlook for the group in the year ahead. 2019 will be a transformative year”. The shares have currently responded... er, slightly lower to 90p – and comparing to a 150p June 2016 IPO…


Why I would short Time Out Group

2018-09-25 12:03:08

Time Out Group (TMO) is a name that most people will be familiar with, as many of you will have used it when travelling around the world to make the most of wherever you are staying, and to discover local attractions and restaurants.


Time Out Group – Woodford dog argues “continues to trade well”. Really?!

2018-06-08 03:33:56

Media and entertainment group Time Out (TMO) has updated including “the group continues to trade well” and “we remain confident in meeting our strategic and financial goals for the year”. The shares have responded currently approaching 4% higher, to 83p, but why (other than natch, with Woodford Investment Management a significant shareholder), are they still down from a 150p June 2016 IPO and above 130p at the commencement of this year then?...


Time Out Group – Woodford’s involved... so 2017 results cash burn aplenty?

2018-03-28 04:47:42

Media and entertainment group Time Out (TMO) joined AIM at 150p per share in June 2016 and, despite the shares having recently slid to 130p, reckons “clear progress has been made in 2017”. Hmmm…


Time Out Group – “couldn't be more proud of where the brand stands”, what about the financials?

2018-01-25 01:15:47

Time Out Group (TMO) has updated on the 2017 calendar year in an announcement headlined “Time Out delivers strong progress” and including “revenue is expected to have increased by 19% year-on-year on a proforma basis with strong growth across both Time Out Digital and Time Out Market”


Time Out Group – New Time Out Market Chicago to ‘continue the success story’. Hmmm…

2017-12-11 07:41:27

Time Out (TMO) “is pleased to announce that it has signed a conditional lease agreement for a new Time Out Market in Chicago”, with the group’s CEO Julio Bruno emphasising “we now have a roster of Time Out Market openings in some of the most exciting cities around the world and we are looking forward to them continuing the success story we started with Time Out Market Lisbon”. Hmmm…


Time Out – lease agreement for another site for what it describes as “the highly successful Time Out Market concept”. Hmmm…

2017-10-02 07:29:57

Time Out Group (TMO) has announced the signing of a lease agreement for another site for what it describes as “the highly successful Time Out Market concept”. Hmmm…


Time Out – after a ‘trading update’ with nothing below the revenue line, “pleased to announce” interims. It shouldn’t be…

2017-09-27 00:20:07

I previously wrote on Time Out Group (TMO) following a “trading update” for the first half of 2017 – noting that below the revenue line there wasn’t any detail provided, perhaps something to do with a house broker forecast for a full-year adjusted pre-tax loss of £19.5 million? The company is now “pleased to announce its unaudited half year results for the six months ended 30 June 2017”


Time Out Group – argues “well positioned”, so why are the shares muted?

2017-07-26 00:05:07

Time Out (TMO) has updated on the first half of 2017, arguing “we are well positioned to drive further growth, transactional traffic and monetisation of our unique content”. The shares though, at 138p, remain below the 150p June of last year AIM listing price…


Time Out Group – 2016 trading update, revenue is vanity…

2017-01-26 01:16:02

Time Out Group (TMO) “is pleased to announce” that “revenue for the full year is anticipated to be ahead of the board's expectations” and “closing net cash expected to be better than previously anticipated”. So why are the shares barely ahead, at 137p?...


Time Out – claims “incredible milestone” in it to bring “highly successful” market format to London. Hmmm…

2016-10-12 06:32:01

Having recently been “very excited” to announce a second ‘Time Out Market’, Time Out Group (TMO) is now “absolutely delighted to announce that we will be bringing our unique Time Out Market format to London”. The following reviews with the stock market not particularly delighted – the shares currently 1.4% higher at 141p, still comfortably below the 150p June IPO price…


Time Out Group – “pleased to announce” a new 'Time Out Market' in Portugal, still a gold-plated sell?

2016-10-05 06:55:48

“Time Out Group (TMO), the global multi-platform media and e-commerce business with food & cultural markets, is pleased to announce that it has signed a lease for a new Time Out Market in the iconic São Bento train station in Porto, Portugal. This will be the second Time Out Market, following the success of the group's flagship market in Lisbon which opened in May 2014”. Hmmm…


Time Out Group – IPO, an absolute rum n’ coke

2016-06-14 08:25:43

Time Out (TMO), founded in 1968 as a London culture and entertainment magazine, has listed on AIM at 150p per share, to capitalise the group at £195 million. Founder Tony Elliott sold a controlling share to private equity firm Oakley Capital in November 2010 with the “strategy to transform what was a traditional print brand into a leading digital platform”. Apparently Oakley “invests in and supports the continued growth and development of some of Europe’s leading companies”. Financially, this ain’t one of them…


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