What is happening was slowly going up, past week down 25% Good entry or further down.

I hope the Septics get the $700 billion loan through in the next few days otherwise I can see the FTSE tanking.

Not that I'd touch it with a barge pole, but thats quite a strong climb with volume.

skinny thursday's strategic review should confirm whether you are right or wrong.

Hope Thursdays news is good as I have to get to 19p yet to get from where I started, I wished I had never touched it with a barge pole but I did so here is hopeing.

one is inclined to say far too far too fast, but if wall street manages a decent day - just about possible - then there may be more to go for, but not with my money

Wish it wasn't with my money either, but it is so I will have to stick it out with everything crossed - even just to get out without making too much of a loss.

shame dow dumped at the end .... not sure of what the knock-on effect in london will be

There is no sustain momentum in YELL... dump

I personally cannot afford to loose 11p a share, wish as I have said in earlier I could get out. Some may say getting anything may be better than getting nothing!!!!!!!!

What do you mean you can't afford to loose 11p a share? Can you afford to loose 18p a share ?

No. That is why I said some may say anything may be better than nothing and it would be 19.50 a share actually. Point taken.

3 monkies - money management is paramount otherwise you will lose it. You need to have a bottom line exit price in mind when you enter a trade. There were some threads on here a few years ago - I'll have a dig around.

On edit - here is one.

1st quarter results due next week..... wait and see.

Thanks skinny and halifax.

post 391 to you guys

Wednesday results, and today was the day to bounce from the start.

I did buy on Friday at 7.40p on the bounce back, and I was not happy with Friday's close, but today was certainly a better day finishing at 8.30p.

re - post 391 to you guys


Post 401 to you loser of risers

if you pick up enough shit, eventually you may find a pound coin

RNS Number : 6946K

Yell Group plc

20 July 2011

20 July 2011

Yell Group Plc ("Yell")

Interim management statement for the quarter ended 30 June 2011

Trading in line with expectations. Strong growth in digital services.

Financial headlines([1]) ()

-- Group revenue of GBP383.3m was down 11.1%

- Digital services revenues grew 164.9% to GBP30.2m

- Digital directories (Internet Yellow Pages) revenue fell 7.1% to GBP89.5m

- Print and other directory (enquiry services) revenues fell 18.5% to GBP263.6m

-- EBITDA of GBP109.1m was down GBP20.2m

-- Free cash flow of GBP73.3m

-- Net debt GBP58.3m lower since year end at GBP2,706.8m

Operational headlines(1)

-- Total digital revenue increased by 11.3%, rising from 25.4% to 31.2% of revenue

- Total digital customers grew 8.1% to 927,000

- Average annual total digital revenue per customer was up by 11.8% to GBP531

-- Live customer websites increased by 250,000 to 305,000

-- Digital directories visitors declined 29% to 39m

-- Print advertisers were down by 7.9% to 278,000(2)

-- Print revenue per advertiser was down by 8.7% to GBP839(2)

Mike Pocock, Chief Executive Officer, said:

"Trading in the quarter continued in line with recent trends and market expectations. Our new digital services revenues have continued to grow strongly and are now running at an annualised rate of GBP121m, up 29% from GBP94m in Q4 of last year. Print trends were broadly unchanged and the weakness in digital directories reported in Q4 has continued. We have continued to take cost out of the business, whilst investing selectively to support future growth. EBITDA and cash flow for the quarter fell, reflecting these points. The Group nevertheless repaid GBP134.8m of debt, ending the quarter with cash balances of GBP141.9m. For the full year, EBITDA expectations are unchanged.

Yell has a strong position in the local market place. The new strategy that we announced last week will leverage our assets and those of our partners to capitalise on the convergence of consumer and SME needs in the digital world. Yell intends to become the leading SME digital services provider and will bring consumers and SMEs together to establish a new local online market place ("eMarketplace"). The impact of these initiatives, coupled with cost savings of GBP100m over the next two years, will return the Group to profitable growth. I look forward to reporting progress on this transformation."

Forward looking statement

This news release contains a forward-looking statement regarding Yell's intentions, beliefs or current expectations concerning, among other things, Yell's results of operations, revenue, financial condition, liquidity, prospects, growth, strategies, new products, the level of new directory launches and the markets in which Yell operates. Readers are cautioned that any such forward-looking statement is not a guarantee of future performance and involves risks and uncertainties, and that actual results may differ materially from those in the forward-looking statement as a result of various factors. These factors include any adverse change in regulations, unforeseen operational or technical problems, the nature of the competition that Yell will encounter, wider economic conditions including economic downturns and changes in financial and equity markets. Readers are advised to read pages 16 to 25 in Yell Group plc's annual report for the financial year ended 31 March 2011. Yell undertakes no obligation publicly to update or revise any forward-looking statements, except as may be required by law.

Risk Statement

Yell's risks and uncertainties include strategic and operational risks faced by Yell's businesses; debt and financing risks faced in funding Group operations and the financial reporting and related risks faced in reporting Yell's results. The new strategic direction for the Group may have a positive influence on these uncertainties. However, there is a risk that in the future the Group would need to reset its financial covenants with, or obtain a waiver from, its lenders, either of which would require a two thirds majority vote.

The financial covenants are disclosed on page 21 of Yell Group plc's Annual Report for the financial year ended 31 March 2011. A discussion of the risks associated with the debt covenants is presented on pages 19 to 21 of Yell's annual report for the financial year ended 31 March 2011, a copy of which is available on Yell's website at http://www.yellgroup.com.

If the Group was required but not able to reset its financial covenants with, or obtain a waiver from, its lenders such that undertakings to the Group's lenders were breached, the lenders' facility agent may, and must if directed by two thirds of lenders (by reference to debt held) demand immediate repayment of all amounts due to them. Whilst this eventuality would, if it arose, cast doubt on the future capital funding of the Group, the Group's cash flow forecasts show that in the twelve months ending 30 June 2012 interest payments will be fully met, with further cash generated to repay debt.

The Group is in full compliance with the financial covenants and undertakings contained in all its borrowing agreements. The Group is cash generative and profitable.

post 391 (11/7) - 11.00p
today - 6.94p

spiffing performance then!

Went short yesterday, made a few quid, but thought it would be more down today.