Previously writing on Time Out Group (TMO), in August I noted short-term loan facility, how’s that balance sheet set then?. Today the “global media and hospitality business” has announced results for its year ended 30th June 2022, headlined “Positioned for further profitable growth and back on pre-pandemic trajectory”. Is it?

Previously writing on visitor-related media and marketplaces group and former Woodford pick Time Out (TMO) I noted it is (as warned here) material dilution ahoy again. There has now been “Results of General Meeting, Placing and Open Offer”…

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?...