Tex Share Discussion Threads

[lasmo] 20/7/2004 18:51

Doubleorquits
Are you still holding these? What do you make of the annoucement? 1.9 million Euros could be a big whole in the accounts? It is worrying to me for a couple of reasons:

Firstly I would have thought that an international letter of credit (LC) gets released when all the terms of the LC are met....which could suggest that the scope of supply is in dispute.

Second....why is the LC placed on their agents and not the company itself? Could this lead to non payment by the agent?

What encourages me however is that they are obvisously hopefully of the money or they wouldn't hold onto the accounts....i.e. delaying the release of bad news normally makes things worse.

If one truely believes that the money is forth coming,,,,should this be seen as a buying possiblity?

[lasmo] 01/3/2004 14:27

On the way up again! Looking at the trades the market is extremely tight. Any selling is being absorbed by the mm's. Let's hope there is some good news in the pipeline.

[lasmo] 13/11/2003 19:08

One thing I have picked is that Tex's has reopenned it's Philippines office.

PS I know that the mm's were short on stock as they called my broker to try and shake out some shares.

and Diogenes,....and even if the share price doesn't grow they are expect to pay around 10p divi...which say 6%....which is a pretty good rate of return in today's market.

[diogenesj] 13/11/2003 14:04

Howdy, pardners. Nice results, on target, and there's always the possibility of one of those big far east contracts coming in, so I'm holding. (Not that I have that many, but they're doing OK.) I suppose another IC tip is on the cards now too.

[doubleorquits] 13/11/2003 13:13

lasmo, I bow to your greater knowledge of the share - the share certainly has broken out. I did offload some after the IC tip but it looks as if there is still some way to go.

[lasmo] 13/11/2003 12:58

Doubleorquits
Having held these shares for many years I maybe have a slightly bais view ...however there are a number of elements which could really get this share motoring.
- Tex has had good expansion of it's core business (especially plastics, boards and pannels).
- price has broken out of it's traditional 150p ceiling
- far east contracts look like they have a bit of new life
- greater share holder basis

and finally ...the mm's are really short of stock.

I was tempted to sell on the news ...but having been in for so long and the results being so good....it's seems plain silly to cash in now.

[doubleorquits] 13/11/2003 11:59

Nice bullish statement this morning. Expecting to "comfortably" beat H2 for last year and an increase of interim dividend by 40% or so with sales looking up. EPS of 7.3p at the halfway stage makes the full year figures look promising with the statement that accompanies these results. I am now expecting EPS to come in at the top end of my estimates above - 10 or 11p FY dividend two times covered implies a figure of at least 20p EPS to me. A PE of 10-12 makes the 240p target very reasonable especially with gearing expected to fall to 30%.

Share rising in agreement ;0)

[doubleorquits] 12/11/2003 09:39

Results tomorrow so we will soon see where we've got to.

[doubleorquits] 10/11/2003 20:35

I think you are right - the price seems to already have an EPS of 15 inbuilt and is at the top end of my expectations. It got there quicker than anticipated - IC tip obviously boosted it. Unless there is a further announcement I think things might go a bit quiet post results.

[lasmo] 10/11/2003 20:26

I called the company a couple of weeks ago. Results should be out 13th or 14th Nov. Good results is probably already in the price. However what will really make the price move is positive news on the Far East low cost housing contracts.

[georgedent] 10/11/2003 14:38

When this week are the interims released? I've not heard a word on them, other than that last year's came out on 20/11.

Any indication of what the results might reveal? Recent share price movements look positive at least.

[lasmo] 10/11/2003 11:19

Results due this week.

[lasmo] 24/10/2003 12:45

I believe Harrison (MD) is still in the Far East....due back sometime next week. I take this as good news.

[lasmo] 20/10/2003 12:31

At the risk of tempting fate....price seems to be holding. Lots of samll buys , which is far better than one or two big players having a punt.

[doubleorquits] 17/10/2003 12:30

I agree but I don't think it will become a trading stock because of liquidity issues and spread whic, occasionally, can be horrific. A price of 180p or so is about right on present f/cs IMO with potential for over £2 on news of contract or bullish update. A rising dividend is always a good guide, I find. If it is 20% or more it can give a strong message. The price rise today suggests volatility could be around for a while - a bit of profit-taking by just a few longer-term holders may see a fall of 10-12p or so after the initial buying spree.

Let's see.

[lasmo] 17/10/2003 11:28

To be honest I hope this doesn't become a trader's stock. It can swing wildly as there is very little stock held by the mm's.I do believe however a price of between 180p to 210p is justifable without the above deal.

[lasmo] 17/10/2003 11:24

Tex have signed contracts to build cheap affordable housing for the Philippine gorvenment. The contract is in 3 or 4 parts and Ibelieve is worth in excess of £20 million. The deal however has always been subject to finance i.e. world bank or others. I haven't seen the IC article. My broker read it to me and this is what they are refering to.

RNS Number:5654O
Tex Holdings PLC
27 July 2000


Annual General Meeting - Thursday 27th July 2000

Announcement made by the Chairman - 12.15pm


Review of Trading

Tex Business can be divided into two sections - the basic business is
components for UK manufacturers - Plastic, Board & Panel and other engineering
plant and products and this section is performing at slightly below
expectations. The overseas contracts business consists of factory made
building components and spares and servicing of diesel engines for the marine
and power generation industries. Tex has signed a number of these contracts
and has Letters of Intent from Government Agencies in respect of others -
these contracts need funding and the lesser developed countries concerned
often have difficulty in achieving this. Thus very substantial potential
profits for Tex are outside management control, but we continue to make every
effort to bring these orders to fruition.


A.R.B. Burrows
Chairman
27 July 2000

[doubleorquits] 17/10/2003 10:47

lasmo,

Was that deal mentioned in I.C. today?

[lasmo] 17/10/2003 10:39

Just heard that Harrison (group MD)is in the Philippines. I wonder if IC talked to him while he was there ? I know that the Philippines deal has been around for a while "subject to finance, but for Harrison to be in the region at this time (and Far East markets starting to pick up) is positive. Let's hope he comes back with that £20 million contract.

[doubleorquits] 17/10/2003 10:15

Doubly interesting ;0)

I will be interested to see what I.C. have to say about this one - might even have to buy a copy!

[lasmo] 17/10/2003 09:14

The next few days will be really interesting. Above 150p and we start to get into unchartered ground.

[lasmo] 17/10/2003 09:14

The next few days will be really interesting. Above 150p and we start to get into unchartered ground.

[timbo003] 17/10/2003 07:36

Tipped in todays IC

[lasmo] 15/10/2003 20:39

Some interesting buys today. It would be interesting to see if we get above the 140p level before the week end.

PS A dividend in the range of 10p to 15p would be an added bonus.