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.

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.

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

You must be talking by experience, it shows on almost all the threads you do post ( shit on your face since born, mother most likely had Diarrhea at the same time ).

For me shares are for trading and returns of 16% ( 7.40 -- 8.60p ) on less than 48 hours, are not the type of trades many investors get in this "moneyam" place and certainly not you, because you want to play safe and for that you put the money on the bank and get nothing.

My trade was at the second wave at 7.40p not 11p and as usual got it perfectly as the shares had 3 days of steady rise, so able to get in and also out on the process down.

Post 391 says nothing and just covering your ARSE so talking both ways can go up or can go down,

cynic - 12 Jul 2011 17:26 - 391 of 407
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

you must expect to be teased, just as i do

You are a one Richard.

My YELL short is doing OK now should be able to buy some new gold with my profit.

6.33p -0.15p

Very large volume with some large buys at the moment
Looking like a reversal from this morning lows is on the way

AGM

Resolution 18 That the Company be authorised to purchase its own shares.

Interesting one requested and passed...

At finish there was a UT @ 7.39p

next stop 3p.

Worth a punt a 2p

LARGE VOLUME TODAY
ready for a punt

news of appointment today of Scott Moore to the new role of CDO
has a good track record on the last job

3.78p +0.09p ( 2.60% )

on the US close at $0.070+0.01 (16.67%) Around 4.375p

Microsoft vet Scott Moore joins U.K. ad firm Yell Group

Microsoft and Yahoo veteran Scott Moore has joined Yell Group, a U.K. ad publisher, as its chief digital officer.

Moore, who was most recently executive producer for Microsofts MSN, will head up a new Seattle office to serve as a central hub for Yells global digital development activities.

Yell provides print and online advertising and marketing services for small and medium-size enterprise (SME) customers, but has seen revenue from print advertising drop off in recent years.

Moore's position is a new one for the company, as it shifts away from print advertising to create an eMarketplace, an online platform and portal that connects consumers and SMEs.

The U.K. firm already has a partnership with Microsoft. Yell uses Microsofts cloud-computing tools, including Office 365, in its eMarketplace, and says the results from its online directory appear on Microsofts Bing search engine.

Yell said Moore will be responsible for the creation and development of new digital products and products, reporting directly to Yell CEO Mike Pocock.

"Scott is a highly regarded senior executive with vast experience in building and turning around digital and online properties, said Pocock in a statement. At Yell, he will develop and execute the new products and services that will enable our more than 1.3 million SME customers and their consumers to take full advantage of the digital opportunity.

Moore said SMEs are typically underserved when it comes to digital services, but believes Yell has all the credentials to target that audience.

"I'm hugely excited by the opportunity to shape and lead the realisation of Yell's digital vision, which stands at the intersection of local, mobile and social, he said.

Prior to Microsoft, Moore was the senior vice president and head of media at Yahoo and held senior management positions at Expedia Travel. Moore is also the former publisher of Slate, Microsofts online magazine.

http://www.techflash.com/seattle/2011/10/microsoft-yahoo-vet-joins-yell-preps.html

Yell asks lenders to back debt term amendements

Harry Wilson, 20:24, Monday 14 November 2011

Yell has asked its lenders to agree to amendments on the terms of the directories' company's 2.6bn debt pile as it looks at way to reduce and refinance its burden.

A lenders memorandum sent out on Monday by Yell set out a series of proposals, including a debt buy back and increased flexibility on its loan covenants designed to help it reduce its indebtedness.

Lenders have been asked to agree by the end of the month to give the company 20pc of headroom on a net debt-to-earnings covenant until 2014 so that it will have more flexibility to refinance its loans with new bond issues, including sales of high-yield debt.

As part of its plans, Yell wants to buy back 108m of its loans at a discount to their par value in order to cancel them and reduce its debt pile. This process is expected to begin immediately if, as expected, lenders agree to the amendments to the loan terms. They will then be asked to declare the price at which they are prepared to sell Yell's debt.

"Yell's new strategy offers real opportunity for value. Yell is building a unique position in the online market, with real potential for growth and cash generation," said Neil Woodford, a fund manager at Invesco (NYSE: IVZ - news) , a shareholder in Yell.

Last week, Yell reported its interim results for the six months to the end of September, which showed a 12pc year-on-year decline in revenues to 787m.

Revenues from its core print directories business fell by nearly 20pc to 551m, while its digital services operation reported a 149pc increase in revenues to 63.6m.

Mike Pocock, chief executive of Yell, described trading conditions as "increasingly difficult", but said the company's performance was "in line" with expectation.

Yell shares closed up 2.9pc at 3p

i havent looked properly at yell for a few months - i am just amazed they are still trading from their reading hq (if they are still there) - the debt pile will not go away and what a disaster the spanish acquisition was - far too much paid even then - then everything started going wrong - and the yellow book - handy for propping a door open.... i like the comment above 'inline with expectation' lol - good job he didnt set his sights high or even more bother - cant see anyway out for dell despite various rumblings - if lenders dont play ball thats it game over surely - yell got caught on the hop a while back and still paying for it - if they get out of this be nothing short of a miracle - last i knew there employees extremely fed up - gl to anyone in or considering

typo above not dell but yell!!

sp up 58% today is YELL coming back from the dead?

15/11/2011 BUY Bob Wigley purchased 2,610,000 shares.

Yell announces that its Chairman, Bob Wigley, has today acquired an interest in Yell's senior debt of US$ 1million face value for an amount of approximately 200,000 and bought 2,610,000 Yell shares in the market, at a price of 0.0385 representing 0.11% of Yell's issued share capital. This takes his holding in the company to 3,147,407 shares, representing 0.13% of Yell's issued share capital.



Bob Wigley said:

"When I became Yell's Chairman, I was convinced that, with the right leadership, Yell's business had huge potential and that it could manage its debt structure. Having now recruited a world class management team and finalised exciting plans to realise that potential, I am convinced about the strength of the company. I am now backing my conviction by making a further substantial investment in the company."