David Prosser: Yell still has a chanceto recover
Wednesday 10 November 2010
Outlook On holiday a few weeks ago in a part of Britain that does not yet seem to have built any mobile phone masts, I did something I can't recall having done for years. I picked up a copy of Yellow Pages.
I was reminded of this yesterday by the precipitous plunge in the share price of Yell, which publishes the tome. Its warning that its revenues are falling faster than expected triggered a 20 per cent sell-off.
Still, do not write this business off just yet. Having restructured its monstrous debts earlier this year, Yell has a breathing space in which to turn its prospects around. And while most people's experience of using Yellow Pages won't be too far from my own, the company's move online is now generating very significant revenues.
Indeed, for a good number of the SMEs listed on Yell.com, the company represents the sum total of their online marketing activities. And there is no doubting the strength of the brand.
Yell hired a new chief executive yesterday, one Michael Pocock. It looks a good hire: Mr Pocock has considerable online experience and has already turned around the fortunes of one struggling company, the camera business Polaroid. Assuming he can keep Yell's lenders onside, the new man has a shot at repeating the trick. Yell's obituary writers, out in force again, may have spoken too soon.
- 1 I'm A Celebrity 2014: Jungle security stepped up after murder and 'suspicious death' near to camp
- 2 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 3 Jeremy Hunt: 'I took my children to A&E because I didn't want to wait for GP appointment'
- 4 Girl, 7, gets Tesco to remove 'stupid' sign suggesting superheroes are 'for boys'
- 5 This letter from a reader explains why women can’t play football
Sarah Vine criticises lesbian mother Jack Monroe: 'If she was unsure about her sexuality, she should have taken greater precautions'
'Kidnapped boy may have been abused and murdered by VIP paedophile ring,' say police
Black Friday 2014: Opening times for Asda, John Lewis, PC World, GAME and Argos
Jeremy Hunt: 'I took my children to A&E because I didn't want to wait for GP appointment'
Michael Brown shooting: Driver smashes into crowd as protests erupt across the US during a second night of unrest
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Ukip says babies born to immigrants in the UK should be classed as migrants – which would include Nigel Farage’s own children
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Tamir Rice: 12-year-old boy playing with fake gun dies after being shot by Ohio police
iJobs Money & Business
£16000 - £18000 per annum: Langley James : IT Support; Helpdesk, VMware; Manch...
£35000 - £450000 per annum + £3k car, £70k ote: h2 Recruit Ltd: Do you want to...
£Attractive Package: Citifocus Ltd: Prestigious financial institution seeks to...
£Negotiable: Citifocus Ltd: Experienced operational risk professional with ban...