Time Out Group – “Proposed Placing”, Woodford remaining (eventually, for the wrong reason & at a lower price, natch) correct to sell?
Previously writing on Time Out Group (TMO), last month I noted balance sheet deterioration after interims showing net revenue only 10% higher than in the corresponding 2018 period to £24.7 million, a little changed attributable loss of £11.4 million and £16.6 million of net investing spending more than depreciation + amortisation and concluded, with the shares at around 128p, I still think Woodford - albeit eventually, for the wrong reason and at a lower price! - was correct to sell. Now “Proposed Placing”…
- By Steve Moore
- 2019-10-07 11:50:20