IMD Just Jump On Board & Enjoy The Ride

Well, first post of the year (happy new year all) we didn't get the Christmas message that we hoped for VNP, but no news is often not that bad :)

With the full portfolio of broadcasters on board now, I'm really hoping that the results in March make this a great year for us all. I know each year brings fresh hopes, but if we remember what the board told us at the interims:

"At 30 June 2005 the total investment in the television system exceeded #3 million including half of an additional #700,000 added to the budget as a result of ITV. This large figure involves not only the direct cost of fitting out ITV but also extra expenditure in expanding future capacity to ensure all potential demand can be satisfied. Product development is a continuing requirement.
However the major capital fitting out programme is now committed and future
development will proceed at a lower level."

Then we have at least two things to look forward to:

1) The fact that the £3m has now been spent, the (major) cashburn is over, and a proportion of that income which was being spent on the rollout, should now make its way to patient shareholders like us.

2) The money which was spent to get ITV / Sky aboard, should now bring income from those sites that we haven't seen before, again with a proportion of the income coming our way.

If the results in March bear this out, and there's no reason that they shouldn't (I'm sure any shock announcements of materially different company performance would be required to be made to the market before the financial year end last week), then a rerating of the shareprice should follow too.

A turnaround in the cyclical radio market is probably too much to hope for, but you can't have everything.

It's been a long time since Chemex, and in hindsight I often hoped for too much too soon - but then again, who doesn't ;)

Anyway, I really think that this year could get little IMD noticed outside the sleepy world of the five readers of this thread and the post office / BT pension funds ;)

Here's to this year, the dividends during it and the shareprice at the end :)