Time Out Group (TMO)

Sector:

Media

Index:

FTSE AIM All-Share

 52.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 54.00
  • 52 Week Low: 44.00
  • Currency: UK Pounds
  • Shares Issued: 339.76m
  • Volume: 0
  • Market Cap: £178.37m
  • RiskGrade: 111

Time Out inks management deal for Cape Town market

By Josh White

Date: Friday 07 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Media and hospitality company Time Out Group has entered into a management agreement with V&A Waterfront Holdings, it announced on Friday, to open a new Time Out Market in Cape Town.
The AIM-traded firm said it was its sixth Time Out Market management agreement, and its first location in Africa.

It said the venue would be located at the V&A Waterfront on the Atlantic shore, and was expected to open towards the end of 2023.

The V&A Waterfront - the oldest working harbour in the southern hemisphere - is one of the city's top destinations, attracting more than 20 million visitors each year.

Time Out said the market would include a "curated mix" of 14 chefs and restaurateurs, four bars, and one stage, with around 750 seats.

Under its management agreements, Time Out said it received a share of revenues and profits, subject to a guaranteed consultancy fee, but did not contribute to the capital cost of the site.

Its primary responsibility would be branding, design, curation and day-to-day operational management.

"Bringing Time Out Market to Cape Town is an exciting step as we continue to drive the global expansion of our food and cultural market," said chief executive officer Chris Ohlund.

"The location at the V&A Waterfront is breath-taking alongside being one of South Africa's most visited destinations.

"Time Out Market is about the best of the city and celebrating local culinary and cultural talent - both award-winning and up-and-coming."

Ohlund said the company was continuing to receive interest from landlords globally, wanting to bring Time Out Market to their city as part of a management agreement.

"The appeal of the markets for the world's leading real estate companies is proof of the strength of the format and the brand, and represents growth opportunities for Time Out Group"

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Time Out Group Market Data

Currency UK Pounds
Share Price 52.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 54.00
52 Week Low 44.00
Volume 0
Shares Issued 339.76m
Market Cap £178.37m
RiskGrade 111

Time Out Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
35.54% below the market average35.54% below the market average35.54% below the market average35.54% below the market average35.54% below the market average
42.22% below the sector average42.22% below the sector average42.22% below the sector average42.22% below the sector average42.22% below the sector average
Price Trend
58.37% above the market average58.37% above the market average58.37% above the market average58.37% above the market average58.37% above the market average
40.43% above the sector average40.43% above the sector average40.43% above the sector average40.43% above the sector average40.43% above the sector average
Income Not Available
Growth
28.94% above the market average28.94% above the market average28.94% above the market average28.94% above the market average28.94% above the market average
13.64% above the sector average13.64% above the sector average13.64% above the sector average13.64% above the sector average13.64% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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Time Out Group Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

Time Out Group Key Personnel

CEO Chris Ohlund
CFO Matthew Robert Phillip Pritchard

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