DOCSLIB.ORG

Full Year Results 2020/21 Investor & Analyst Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Full Year Results 2020/21 Investor & Analyst Presentation Full Year Results 2020/21 Investor & Analyst Presentation 3rd June 2021 Agenda 01 02 Introduction Financial review Graham Clemett Dave Benson CEO CFO 03 04 Outlook Supplementary Graham Clemett information CEO 2 Workspace | Full Year Results 2020/21 Introduction Graham Clemett, CEO 3 Workspace | Full Year Results 2020/21 Introduction A resilient performance and encouraging signs for the year ahead • London shut down for much of the year • £20m of rent discounts given • Ensured all business centres are Covid-safe and secure • Lost some 10% of our customers • Occupancy levels now stabilising • Good momentum into the new financial year • Committed to net zero carbon by 2030 • First green public bond completed Well positioned for growth 4 Workspace | Full Year Results 2020/21 Introduction Financial highlights Mar 21 Mar 20 Mar 21 Mar 20 Net rental income £81.5m £122.0m Property valuation £2,324m £2,574m Trading profit after interest £38.7m £81.0m EPRA NTA per share £9.38 £10.88 Total dividend per share 17.75p 36.16p Loan to value 24% 21% Trading Profit after interest NTA per share £90m £12.00 £80m £10.00 £70m £60m £8.00 £50m £6.00 £40m £30m £4.00 £20m £2.00 £10m £0m £- 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 5 Workspace | Full Year Results 2020/21 Introduction Operating highlights Year ending Mar 21 Mar 20 Mar 21 Mar 20 Enquiries per month 739 1,087 Like-for-like occupancy 81.6% 93.3% Viewings per month 328 675 Like-for-like rent per sq. ft. £36.57 £41.98 Lettings per month 96 121 Like-for-like rent roll £85.1m £111.7m Monthly enquiries Like-for-like occupancy 100% 1,400 1,200 95% 1,000 90% 800 85% 600 80% 400 75% 200 0 70% 6 Workspace | Full Year Results 2020/21 Introduction Customers joining and leaving E-Commerce 7% Business Consultancy 4% Fashion Design 6% Film / Video Production 4% Film / Video Production 6% Architecture 3% Art / Photography 6% Events 3% Technology 4% IT Services 3% Business Consultancy 4% Graphic Design 3% Software & Software Design 3% Charity 3% Other 63% Other 78% Total customers joining in the year 601* Total customers left in the year 954* *Number of customers in year to 31 March 2021 7 Workspace | Full Year Results 2020/21 Introduction Customer viewings by region Q1 – Q3: -54% vs. prior year Q4: -35% vs. prior year -50% -49% -20% -17% -38% -71% -17% -50% -45% -22% Less More No. of viewings by region 20/21 vs 19/20 8 Workspace | Full Year Results 2020/21 Introduction Customer feedback and sentiment Confident about future Views on employees business success working from home Negative Positive Less More How many days expect Change in space employees to work from home requirements over next year 1 or less 3 or more Negative Positive Based on feedback from 904 Workspace customers in April 2021 9 Workspace | Full Year Results 2020/21 Financial review Dave Benson, CFO 10 Workspace | Full Year Results 2020/21 Financial review Income statement £m Mar 21 Mar 20 Change Underlying net rental income* 105.5 120.3 -12% Discounts (19.9) - Expected credit losses (4.2) (0.4) Disposals 0.1 2.1 Net rental income 81.5 122.0 -33% Administrative expenses (19.0) (17.7) +7% Net finance costs (23.8) (23.3) +2% Trading profit after interest 38.7 81.0 -52% Change in fair value of investment properties (257.7) (7.5) Loss on sale of investment properties (0.1) (0.8) Exceptional finance costs (16.4) - Other items (0.2) (0.2) Profit before tax (235.7) 72.5 Adjusted underlying earnings per share 21.3p 44.6p -52% Total dividend per share 17.75p 36.16p -51% *Net Rental Income before discounts, expected credit losses and disposals 11 Workspace | Full Year Results 2020/21 Financial review Underlying net rental income £m Mar 21 Mar 20 Movement Rental income 115.4 128.4 (13.0) Unrecovered service charges (2.1) (3.3) 1.2 Empty rates and other non-recoverable costs (7.1) (6.3) (0.8) Services, fees, commissions and sundry income (0.7) 1.5 (2.2) Underlying net rental income 105.5 120.3 (14.8) Total rent roll 12 Workspace | Full Year Results 2020/21 Financial review Balance sheet £m Mar 21 Mar 20 Investment property valuation 2,324 2,574 Net debt (565) (541) Other (39) (35) Net assets 1,720 1,998 EPRA NTA per share £9.38 £10.88 EPRA NRV per share £10.26 £11.92 13 Workspace | Full Year Results 2020/21 Financial review Valuation Underlying Movement 31 Mar 2021 Valuation Full Year H2 H1 £m ERV per sq. ft. down 9.8% to £42.07 £(205)m Like-for-like 1,790 (205) (112) (93) Equivalent yield unchanged at 5.8% - Capital value per sq. ft. of £628 Mare Street Studios £(5)m Completed projects 181 (8) - (8) Fleet Street £(4)m Fitzroy Street £(9)m Current 256 (41) (18) (23) Westbourne Studios £(8)m refurbishments Biscuit Factory £(8)m Current 97 (4) (2) (2) Highway Business Park £(2)m redevelopments Total 2,324 (258) (132) (126) 14 Workspace | Full Year Results 2020/21 Financial review Net debt 15 Workspace | Full Year Results 2020/21 Financial review Robust cash collection 100% FY20/21 90% • 50% discount given to majority of customers in 80% respect of Q1, with some deferrals on a case by case basis 70% • 95% of rent collected, net of discounts and 60% deferrals • Outstanding balances weighted towards travel, 50% hospitality, leisure and retail sectors 40% • Majority of outstanding balance covered by rent % % Collected Rent deposits or provisions 30% 20% Q1 21/22 to date 10% • 91% of Q1 21/22 rent collected to date, ahead of the same point in Q4 20/21 0% Q1 Q2 Q3 Q4 Cash Collected Discounts/Deferrals given All data as at 28 May 2021 16 Workspace | Full Year Results 2020/21 Financial review Debt Proforma* Mar 21 Mar 20 Net debt £581m £565m £541m Average interest cost 3.1% 3.8% 3.7% Undrawn revolver facilities and cash £269m £434m £166m Marginal cost (undrawn facilities) over LIBOR 1.5% 1.5% 1.5% Average period to maturity 5.3 years 4.8 years 4.5 years £350m Covenants# Mar 21 £300m £250m Interest cover > 2x NRI 3.8x £200m LTV < 60% 24% £150m £100m £50m £0m 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Undrawn Bank Facilities Drawn Debt Drawn Debt - Repaid post year end *After pre-payment in April 2021 of private placement notes due in 2023 #LTV is net debt divided by the current property valuation 17 Workspace | Full Year Results 2020/21 Interest cover is net rental income divided by interest paid (excluding exceptional refinancing costs) Financial review FY22 Outlook: poised for recovery Monthly Enquiries and Lettings Leavers and Contractions 180 1,600 180 160 1,400 160 140 1,200 140 120 1,000 120 100 100 800 80 80 Lettings 600 Enquires 60 60 40 400 40 20 200 Number of Customers 20 0 0 0 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Lettings Enquiries Leavers Contractions Like-for-like Occupancy* UK GDP 100% 10% 7.3% 4.0% 95% 5% 1.7% 1.7% 1.3% 1.4% 1.7% 1.6% 1.7% 90% 0% 85% -5% 80% Annual GDP Growth GDP Annual -10% 75% -9.9% 70% -15% Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 GDP Annual Growth (actual/forecast per OBR March 21 forecast) *As reported 18 Workspace | Full Year Results 2020/21 Financial review 2021/22 Outlook • Positive momentum • Focus on regaining occupancy • Pricing recovery will lag occupancy • Drag from unrecovered service charge and void costs • Progress on delivery of refurbishment and redevelopment pipeline • Strong balance sheet with significant liquidity and lower cost of debt Well positioned to capture increased demand and make significant progress in 2021/22 19 Workspace | Full Year Results 2020/21 Outlook Graham Clemett, CEO 20 Workspace | Full Year Results 2020/21 Outlook Leveraging the Workspace brand • We have in-house marketing capability, harvesting enquiries through ‘always on’ search marketing, social media and digital advertising • We manage all our enquiries, viewings, lettings and renewals, capturing valuable data and insight • Our refreshed brand positioning is distinctive, more clearly setting Workspace apart in the market • Our advertising campaign aims to capture the mood of the moment as customer confidence returns and demand increases 21 Workspace | Full Year Results 2020/21 Outlook ? ? ? Unique property portfolio ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 22 Workspace | Full Year Results 2020/21 Outlook Sq. ft. pipeline project Extensive 200,000 250,000 100,000 150,000 50,000 - Mare Street Studios Lock Studios 2020/21 Rainbow (1) Projects complete Wenlock Studios Parkhall Pall Mall ft. sq. 132,000 2021/22 Westbourne Studios Projects underway Projects Mirror Works Light Bulb Barley Mow 23 Chocolate Factory (1) Design Stage 470,000 sq. ft. sq. 470,000 The Biscuit Factory 2022/23 Leroy House The Shaftesbury Centre Design Stage (pre Fitzroy Street Chocolate Factory (2) - application) Riverside Highway Workspace | Full Year Results 2020/21 790,000 sq. ft. sq. 790,000 Kennington Park 2023+ Morie Street Havelock Terrace Poplar Rainbow (2) Outlook Regeneration in action: Lock Studios 24 Workspace | Full Year Results 2020/21 Outlook ESG: Our Doing the Right Thing framework 1.
Load more

Recommended publications
  • Fleet Street Lawyers' Society
    FLEET STREET LAWYERS’ SOCIETY Please reply to: Times Newspapers Limited, Times House, 1 Pennington Street, London E98 1LG. 13th December 2006 The Rt. Hon. Baroness Ashton, URGENT BY HAND & FAX Parliamentary Under Secretary of State, Department for Constitutional Affairs, Selbourne House, 54-60 Victoria Street, London, SW1E 6QW. Dear Cathy, Following the meeting at the Newspaper Society on Monday, I think it is extremely important that you see what the newspapers and broadcasters, which constitute the Fleet Street Lawyers’ Society, have to say about the current government proposals on Freedom of Information. The letter, which follows, has been circulated amongst all the companies listed below and they have approved its content. I hope therefore it will be taken into account at the crucial meeting you are having tomorrow with the DCA Information Rights User Group. We, the Fleet Street Lawyers, are writing to express our very serious concern at the proposals that the DCA has recently published to limit access to information under the Freedom of Information Act. The initial success of the Freedom of Information Act in promoting greater openness by public authorities has been one of this government’s significant achievements. Authorities increasingly recognise that they must respond to the new legislation with greater transparency. However, instead of encouraging, and taking credit for this process the government’s current proposals suggest it wishes to reverse it. Each of the two proposed changes to the FOI Act’s fees regulations would, in our view, severely restrict the media’s use of the Act. The public would be denied information which they need and which the media, which is traditionally referred to as the “eyes and ears of the public” by the Law Lords, should be in a position to provide them with about public authority decision-making.
    [Show full text]
  • Reuters Knowledge Corporates
    Reuters Knowledge Corporates The premier information and analytics tool for corporate professionals Reuters Knowledge Corporates In today’s environment, you need immediate access to accurate, up-to-date information to work more effectively, whether you’re a senior executive, investor relations officer or M&A professional. Reuters Knowledge is an advanced research and analysis solution that gives you everything you need to gain insight from the convenience of your browser. Easy access to information saves you time so you can stay focused on what really matters: increasing shareholder value. Tools Content - Easy navigation using Reuters Symbology - Reuters real-time estimates - Advanced searches available on: - Research - Broker research - Broker - Factiva content - Independent - Significant Developments - Reuters Global Fundamentals - Global Company Screener - Reuters news and corporate releases - Report Writer for custom peer and - Selected content from Factiva portfolio reports - Ownership data from Factset - Research alerts organised by your portfolio - Company corporate credit data and research filters - Events calendar and Call Street transcripts - Dynamic Excel add-In (Reuters Link for Microsoft Office) - Reuters Business Intelligence - Filings, pricing and charts Access high-quality content recognized for its breadth, timeliness and accuracy Reuters Estimates Used by investors as well as the media, Reuters Estimates is the leading provider of timely and accurate forecast information on companies worldwide. - Updated in real-time
    [Show full text]
  • Paper View by Philip Dalling
    Paper View By Philip Dalling The news that Jon Cook of Arena Essex-Lakeside was to be the first of several speedway personalities to be featured on TalkSport during the summer months made me think about the current (and past) media coverage of speedway. The attitude of the 'quality' press to the sport varies considerably. As far as the national papers are concerned, the Daily Telegraph usually carries a paragraph or so about the Grand Prix, while The Guardian (more about that one later) and The Independent will usually mention the Cardiff event. On the downside, The Times even seems to have stopped using results on a regular basis. Regional newspaper coverage appears to me to be still good - fairly recent visits to Coventry and Wolverhampton have both coincided with 'wrap around' special editions of the Evening Telegraph and the Express and Star for matches at Brandon and Monmore respectively, whilst the Plymouth-based Western Morning News has first-class coverage of both the revived Devils and of West Country hero, Cornwall's Chris Harris. My new book (sorry for the plug) on Nottingham and Long Eaton Speedway 1928- 1967 (Tempus) has received excellent coverage from the Nottingham Evening Post and the Derby Evening Telegraph. Returning to the national press, it is interesting to note that in the 'golden age' of the late 1940s, several men who later became top by-lined Fleet Street sports columnists cut their journalistic teeth at least partly on speedway. Names like Desmond Hackett of the Daily Express (writing at a time when the Express sold four million copies a day), and J L Manning of The Daily Mail feature in the pages of the Stenner annuals of the period.
    [Show full text]
  • A Classic from the Journalism Bookshelf
    University of Huddersfield Repository Jones, Richard Book Review: All The Truth Is Out by Bai, M. (2016) Original Citation Jones, Richard (2016) Book Review: All The Truth Is Out by Bai, M. (2016). Journalism Education, 5 (1). pp. 193-194. ISSN 2050-3903 This version is available at http://eprints.hud.ac.uk/id/eprint/28716/ The University Repository is a digital collection of the research output of the University, available on Open Access. Copyright and Moral Rights for the items on this site are retained by the individual author and/or other copyright owners. Users may access full items free of charge; copies of full text items generally can be reproduced, displayed or performed and given to third parties in any format or medium for personal research or study, educational or not-for-profit purposes without prior permission or charge, provided: • The authors, title and full bibliographic details is credited in any copy; • A hyperlink and/or URL is included for the original metadata page; and • The content is not changed in any way. For more information, including our policy and submission procedure, please contact the Repository Team at: [email protected]. http://eprints.hud.ac.uk/ Page 192 Journalism Education Volume 5 number 1 Volume 5 number 1 Journalism Education page 193 A classic from the Journalism bookshelf All The Truth Is Out by Matt Bai Review by Richard Jones, University of Huddersfield Towards the End of the Morning by Michael Frayn Before Bill Clinton, there was Gary Hart. Charismatic, intelligent and youthful, he was the overwhelming favourite to win the Democratic nomination for the 1988 Review by Michael Foley, Dublin Institute of Technology presidential election.
    [Show full text]
  • Chronology of Key Events in the History of the Daily Telegraph
    Chronology 1 of Key Events in the History of 2 1800s Daily Telegraph And Courier launched by Colonel Arthur Sleigh, price 2d, edited by Alfred 1855 June 29 Bate Richards Special 2nd edition printed in afternoon to report the death of Lord Raglan, C.-in-C. of British 1855 June 30 forces in the Crimea 1855 September 17 Price halved to 1d, making it the first penny paper 1 1855 December 31 Alfred Bate Richards resigns as Editor, replaced by Thornton Leigh Hunt 1856 October 28 “And Courier” dropped from title, leaving it as just The Daily Telegraph 1857 February 17 Joseph Levy buys out ownership of the paper from Colonel Sleigh 1857 Box number system for classified advertisements invented 1858 June 25 Adopts the motto “Was, Is & Will Be” 1860 Offices move from 253 Strand to 135 Fleet Street 1861 May First supplement published, on the International Exhibition 1862 An appeal for starving cotton workers in Lancashire raises £6,000 4-page supplement on the arrival of Princess Alexandra of Denmark in Britain sees that day’s 1863 March 9 issue sell a world-record 205,884 copies 1872 July 3 Publishes despatch from Henry Morton Stanley describing how he met Dr. Livingstone 1873 Sponsors expedition of George Smith, of the British Museum, to Nineveh 1874 Co-sponsors Henry Morton Stanley’s African expedition with the New York Herald A drawing by Hall Richardson of murder suspect Percy Lefroy Mapleton is the first image 1881 July 1 2 to appear in the Telegraph, and helps in the manhunt for him 1882 June 28 New building at 135 Fleet Street opened by the Prince of Wales 1882 July 3 Opens a postal department to which can be addressed answers to advertisements Gale Primary Sources gale.com/telegraph Start at the Source.
    [Show full text]
  • Of Treason, God and Testicles
    Of Treason, God and Testicles Of Treason, God and Testicles Political Masculinities in British and American Films of the Early Cold War By Kathleen Starck Of Treason, God and Testicles: Political Masculinities in British and American Films of the Early Cold War By Kathleen Starck This book first published 2016 Cambridge Scholars Publishing Lady Stephenson Library, Newcastle upon Tyne, NE6 2PA, UK British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Copyright © 2016 by Kathleen Starck All rights for this book reserved. No part of this book may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. ISBN (10): 1-4438-8918-0 ISBN (13): 978-1-4438-8918-6 For Gregor and Kalle—my two favourite men TABLE OF CONTENTS Acknowledgements .................................................................................... ix Chapter One ................................................................................................. 1 Introduction Chapter Two ................................................................................................ 5 Between Freedom and Totalitarianism: British and American Cinema and the Early Cold War British or American? .............................................................................. 5 Cold War Allies ....................................................................................
    [Show full text]
  • Complaint by Mr Christopher Williams About Going Underground Lockdown Edition
    v Issue 425 26 April 2021 Complaint by Mr Christopher Williams about Going Underground Lockdown Edition Type of case Fairness and Privacy Outcome Not Upheld Service RT Date & time 29 July 2020, 09:30 Category Fairness Summary Ofcom has not upheld this complaint about unjust or unfair treatment in the programme as broadcast. Case summary The programme was a discussion and phone-in programme concerning topical issues. During the programme, the presenter interviewed Mr Steve Bell, a political cartoonist for The Guardian newspaper about reports that he had been fired from the publication. Mr Williams complained of unjust or unfair treatment in the programme because it included “false claims of inaccuracy in my reporting” which he said were “damaging to my reputation”. Ofcom found that the programme did not present, disregard or omit material facts in a way that was unjust or unfair to Mr Williams, that he was provided an appropriate and timely opportunity to respond and his response was fairly reflected in the programme. Programme summary On 29 July 2020, RT broadcast an edition of Going Underground Lockdown Edition, a discussion and phone-in programme concerning topical issues. During the programme, the presenter interviewed Mr Bell, a political cartoonist for The Guardian, concerning speculation on social media that he had been fired from the publication after drawing a cartoon that depicted the Home Secretary, Ms Priti Patel, as a bull. During the interview, the following exchange took place between the presenter and Mr Bell: Issue 425 of Ofcom’s Broadcast and On Demand Bulletin 26 April 2021 1 Presenter: “You’ve been sacked from The Guardian, that’s what the big reports have been! 40 years at The Guardian, and now you’re sacked! Fortunately, that’s not true.
    [Show full text]
  • Monopoly, Power and Politics in Fleet Street: the Controversial Birth of IPC Magazines, 1958-63
    Monopoly, Power and Politics in Fleet Street: The Controversial Birth of IPC Magazines, 1958-63 Howard Cox and Simon Mowatt Britain’s newspaper and magazine publishing business did not fare particularly well during the 1950s. With leading newspaper proprietors placing their desire for political influence above that of financial performance, and with working practices in Fleet Street becoming virtually ungovernable, it was little surprise to find many leading periodical publishers on the verge of bankruptcy by the decade’s end. A notable exception to this general picture of financial mismanagement was provided by the chain of enterprises controlled by Roy Thomson. Having first established a base in Scotland in 1953 through the acquisition of the Scotsman newspaper publishing group, the Canadian entrepreneur brought a new commercial attitude and business strategy to bear on Britain’s periodical publishing industry. Using profits generated by a string of successful media activities, in 1959 Thomson bought a place in Fleet Street through the acquisition of Lord Kemsley’s chain of newspapers, which included the prestigious Sunday Times. Early in 1961 Thomson came to an agreement with Christopher Chancellor, the recently appointed chief executive of Odhams Press, to merge their two publishing groups and thereby create a major new force in the British newspaper and magazine publishing industry. The deal was never consummated however. Within days of publicly announcing the merger, Odhams found its shareholders being seduced by an improved offer from Cecil King, Chairman of Daily Mirror Newspapers, Ltd., which they duly accepted. The Mirror’s acquisition of Odhams was deeply controversial, mainly because it brought under common ownership the two left-leaning British popular newspapers, the Mirror and the Herald.
    [Show full text]
  • Presentation 11 November 2020 Agenda
    Half Year Results 2020/21 Resilient Operating Performance Investor & Analyst Presentation 11 November 2020 Agenda Introduction Financial Review Outlook Graham Clemett Dave Benson Graham Clemett CEO CFO CEO Supplementary Information 11 November 2020 2 Workspace Group PLC | Half Year Results 2020/21 Introduction Graham Clemett, CEO 11 November 2020 3 Workspace Group PLC | Half Year Results 2020/21 Introduction A challenging first half Covid-19 lockdown 50% rent discount Back to business Customer activity Resilient operating performance Underpinned by the enduring despite the challenging attractions of our flexible model. environment. 11 November 2020 4 Workspace Group PLC | Half Year Results 2020/21 Introduction Financial highlights Sep 20 Sep 19 Sep 20 Mar 20 Net rental income £36.5m £60.1m Property valuation £2,450m £2,574m Trading profit after interest £15.3m £40.1m EPRA NTA per share £10.05 £10.88 Interim dividend per share – 11.67p Loan to value 23% 21% 11 November 2020 5 Workspace Group PLC | Half Year Results 2020/21 Introduction Operating highlights Six months ending Sep 20 Sep 19 Sep 20 Mar 20 Enquiries per month 687 1,109 Like-for-like occupancy 85.5% 93.3% Viewings per month 289 708 Like-for-like rent per sq. ft. £40.61 £41.98 Lettings per month 81 127 Like-for-like rent roll £98.8m £111.7m Monthly enquiries Like-for-like occupancy 96% 1,400 94% 1,200 92% 1,000 800 90% 600 88% 400 86% 200 84% 0 82% 80% Mar-18 Sep-18 Mar-19 Sep-19 Mar-20 Sep-20 11 November 2020 6 Workspace Group PLC | Half Year Results 2020/21 Introduction Stable
    [Show full text]
  • Introduction: Yeats and Mass Communications
    International Yeats Studies Volume 3 Issue 1 Article 6 November 2018 Introduction: Yeats and Mass Communications David Dwan Emilie Morin Follow this and additional works at: https://tigerprints.clemson.edu/iys Recommended Citation Dwan, David and Morin, Emilie (2018) "Introduction: Yeats and Mass Communications," International Yeats Studies: Vol. 3 : Iss. 1 , Article 6. DOI: https://doi.org/10.34068/IYS.03.01.01 Available at: https://tigerprints.clemson.edu/iys/vol3/iss1/6 This Article is brought to you for free and open access by TigerPrints. It has been accepted for inclusion in International Yeats Studies by an authorized editor of TigerPrints. For more information, please contact [email protected]. Introduction: Yeats and Mass Communications David Dwan and Emilie Morin eats often aspired to a lofty independence—to an aristocratic form of art that had “no need of mob or Press to pay its way” (CW4 163). But his own desire for an audience—at least of some notable scale— Ytriggered many a descent from the mountaintop and much contact with the throng (Standish O’Grady would rue the way Yeats had “got down into the crowds”).1 His pursuit of a public necessarily led him into the world of mass media—a landscape populated first by newspapers and later by radios, which he learned to navigate with shrewdness and skill. The purpose of this special issue is to examine Yeats’s various ventures in mass communication—a key component of the literary marketplace in which the poet advertised and ped- dled his wares. Yeats’s exposure to the demands of journalism, book reviewing, and radio broadcasting also had a decisive bearing on his poetics, influenc- ing his ideas about how art should be received and even structured.
    [Show full text]
  • Breaking News: How the Wheels Came Off at Reuters
    A Poisoned Chalice 1 A Poisoned Chalice n one armchair sits Jeremy Paxman, one of Britain’s best-known, often feared television interviewers. Facing him Iis a relaxed and smiling Sir Peter Job, newly knighted chief executive of Reuters, one of the most famous companies in the world. The pair is flanked by giant TV screens, cameramen training lenses on the stage on which they sit. Below them in the cavern- ous ballroom of London’s Grosvenor House Hotel is an expectant audience of 1,200 current and former staff of the global news and information giant, now celebrating its 150th anniversary. The occasion, in July 2001, also marks the retirement of Job who, after ten years at the helm, is handing over to Tom Glocer, a former mergers and acquisitions lawyer and the first American and first non-journalist to head the company. Reuters is riding the crest of a wave – three decades of virtu- ally uninterrupted growth. But, although profits are running at 1 BREAKING NEWS record highs, cracks are beginning to show. The share price, driven up to all-time highs in the dotcom craze, is 40% below its peak, and only the previous day Reuters has announced more than 1,000 redundancies. Nobody really seems to care. Reuters has had its ups and downs with the markets before and has always ridden out the downturns. Job is not going to let this latest blip spoil the party and responds to Paxman’s questions in his customary self- congratulatory tone. “Would you recognize a bus if you saw one, Sir Peter?” Paxman gives Job an easy ride – this is, after all, a PR gig, not Newsnight – ribbing him gently about his journalistic back- ground and his comment that, now aged sixty, he qualifies for a bus pass.
    [Show full text]
  • Page 1 T H E D E V E L O P M E N T S H O W C a S E Page 2 Page 3
    THE DEVELOPMENT SHOWCASE WELCOME London is renowned as one of the world’s most exciting global cities, and rightly so. Alongside the English language, convenient time zone and world-class education system, the diverse culture and eclectic mix of lifestyles make it a vibrant place to call home. As well as having four world heritage sites, eight spacious royal parks and over 200 museums and galleries, London is also a leading centre for finance, technology and creativity and is one of the safest, most stable cities in the world. Education forms an enormous part of the appeal of this city. Students flock from all over the globe to study in London, and whether they buy or rent, there are so many places to choose to live and study. Security, lifestyle, transport links and amenities are all important factors for students and their parents. I know from my own experiences of helping families to find the ideal place in London for their children to live, that the new homes currently on offer fulfil all these criteria and more. The quality of new build homes is already world class in London, and is only getting better. Despite challenging market conditions, in the last year we’ve continued to accelerate. We’ve grown our business and added to our portfolio of London offices, opening our Battersea and Nine Elms office, which is going from strength to strength and really embracing the pace of change and regeneration in this exciting new neighbourhood. We continue to work with the very best housebuilders and developers, and are proud of the strength of these relationships.
    [Show full text]