Share Name Share Symbol Market Type Share ISIN Share Description
Tanfield Group LSE:TAN London Ordinary Share GB00B4QHFM95 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 10.50p 10.00p 11.00p - - - 0 05:30:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 0.0 -0.1 -0.1 - 16.63

Tanfield Share Discussion Threads

Showing 19851 to 19871 of 20000 messages
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DateSubjectAuthorDiscuss
01/6/2017
11:59
A day after the Chairman departs this: RNS Number : 8628G Tanfield Group PLC 01 June 2017 Tanfield Group Plc ('Tanfield' or 'the Company') Snorkel Investment Update The Board of Tanfield is pleased to update the market on its investment in Snorkel International Holdings LLC ('Snorkel'), the aerial work platform ('AWP') business. Investment Background -- Tanfield is a 49% shareholder in the equity of Snorkel, following the disposal of 51% of the Snorkel business in 2013. -- The carrying value, as set out in the Company's interim accounts, is GBP36.3 million. This represents approximately 23.2p per share. -- The trigger event for the calculated realisation of the preferred interest holding in Snorkel is dependent upon Snorkel achieving an annualised trailing EBITDA of $25 million in any 12 month period by 30 September 2018. -- After 30 September 2018, should the above event not be met, the calculated realisation value (which is the basis of the GBP36.3 million balance sheet value) comes to an end, Tanfield remain a 49% shareholder but the outcome then becomes uncertain and the return could be more or could be less than the calculated realisation value. Business Update Tanfield continues to own 49% of Snorkel, which it has held since the disposal of the business in October 2013. Sales levels have continued to grow during 2016 and sales for the year have increased by 19% to $130.5m (2015: $109.9m / 2014: $85.3m). Despite market conditions continuing to be challenging, Snorkel have been able to achieve improved market share in targeted regions allowing them to also create a broader and more diverse customer base. This is expected to help to underpin further growth that is expected for 2017, including some large rental companies who have not purchased Snorkel product for a number of years. This is testament to the progress Snorkel have made in recent years and the improvements to the product range, build quality and customer service. The Snorkel 2016 year end accounts report an operating loss, excluding depreciation, of $2.8m (2015: $10.6m / 2014: $14.9m) with $1.9m of this loss being incurred in the first quarter of the year and the business operationally breaking even during some of the later periods. The significantly reduced operating loss is partially linked to the increased sales levels but is mainly as a result of the focused cost down activity that has taken place during 2015 and 2016 coming to fruition, thereby reducing the bill of material costs and lowering the break-even sales point. Despite the challenging trading conditions, the Board understands Snorkel are again targeting double digit growth in 2017 from their UK manufacturing facility which mainly provides product to the European marketplace. Given the extent to which the US manufacturing facility is dependent upon Ahern Rentals as its principal customer, Tanfield are unsure at this point whether there will be growth in that facility in 2017. That said, as a result of the success of the cost down activity and the double digit European growth expectation, the Board believe Snorkel could still achieve combined growth, as evidenced in the March 2017 quarterly accounts, and are expecting to be profitable for the 2017 year. Should economic conditions materially change in the latter stages of 2017, this may have an impact on the expected outcome but the Tanfield Board is currently of the opinion that the investment in Snorkel will result in a return to shareholders in the future and it should be noted that, this may not materialise until after 30 September 2018 when the outcome then becomes uncertain and could be more or could be less than the calculated realisation value.
orange1
31/5/2017
17:37
I guess Pither is leaving simply because of his age, I believe he is in the mid 80's. He might have health issues. I agree that it would be nice to hear some info on Snorkel, and I am equally worried about the distribution of cost between Xtreme and Snorkel.
multiplural
31/5/2017
16:53
Rat leaving a sinking ship. I feel the board should be doing more for us shareholders - provide us with some information and reassurance that we are not being disadvantaged by Ahern with his close business interests and lack of scrutiny. Extreme and Snorkel are so close that costs and revenues and who's is who is a moot point - no body is covering our back. Big risk
boboty
31/5/2017
13:18
Jon Pither has decided to step down from the Board with immediate effect and has resigned his position as a director of the Company. He will now be a regular contributor to this board and will be remunerated at a rate of £ 100 a word.
orange1
25/5/2017
10:30
Snorkel keeps adding new employees, must be growing the business nicely: http://www.theconstructionindex.co.uk/news/view/roddy-joins-snorkel
multiplural
24/5/2017
08:07
Judging from Ahern Australia's linkedin page they are selling Snorkel equipment pretty fast these days: https://www.linkedin.com/company-beta/7791422/
multiplural
24/5/2017
07:59
New products from Snorkel: http://cpnonline.co.uk/news/vertikal-days-sees-new-snorkel-material-lifts/
multiplural
23/5/2017
23:30
Please remember this is Tanfield you should be talking about.
joseph moran
23/5/2017
14:53
Absolutely destroyed cretin steve on the PROX thread he bought in at 1.20p went 'all in' at 0.40p and it's now at 0.20p
the stigologist
22/5/2017
08:59
When is news due here ?
the stigologist
19/5/2017
16:46
Since Steveglobal pi55ed off this has gone up whilst his new sh!t has collapsed (PROX)
the stigologist
15/5/2017
13:24
Makes sense!!
donemyhomework2
15/5/2017
12:58
Many other , including me, find it worrying. That is why you can buy at these prices imo.
multiplural
15/5/2017
12:22
I do find it rather worrying that for an investment of this size there is very little information for the investor to gauge its performance.
donemyhomework2
15/5/2017
12:13
no US equivalent of Companies House?
the stigologist
15/5/2017
11:43
Yes, US Dollars
multiplural
15/5/2017
11:32
Multi hiThanks for that.The sales of 140m is in dollars not £ correct?Still want to see a profit and loss and balance sheet and find it most odd to only have selective comparisons in the results.Half year 2016 refer to increase in sales by 25% compared to first half 2015. Nothing else!!!!Surely they must have actual accounts ?
donemyhomework2
15/5/2017
11:04
As I recall the only figures we have seen is a 120M turnover in 2015, and expectation of growth in 2016. From the info last year it sounded as if the turnover would approach 140-150 mill in 2016 and I expect that this is around the level needed for positive results. But it is unbelievable that a co owning 49% of Snorkel is not privvy to more details on the accounting ofSnorkel. Personally I believe we are in positive territory with Snorkel, and that might be just what Don Ahern have waited for. I guess he will make a move before the option expires in Sept 2018 as he would probably not have total control with the 49% after that. Even a low bid corresponding to the book value would double the price of Tanfield overnight. Should we hit the Ebitda levels mentioned in the option, which is probably unlikely, we would fetch some 45p per share in cash.
multiplural
15/5/2017
09:32
Does anyone have any idea of what profits if any the new company is making? What is their EBITDA?The board refer to increased turnover from earlier years and once referred to some £130m for a break even?Have they disclosed amy figures the last 3 years?
donemyhomework2
24/4/2017
11:09
I've had enough here, im out, watch it rise now. proxama all the way now
steveglobal4
20/4/2017
22:14
great video, still very nervous now.
steveglobal4
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