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Share Name Share Symbol Market Type Share ISIN Share Description
Tex Holdings Plc LSE:TXH London Ordinary Share GB0008850470 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 73.00p 0.00p 0.00p - - - 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 41.5 0.9 11.5 6.3 60.36

Tex Share Discussion Threads

Showing 326 to 348 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
13/5/2019
12:07
Problems must be severe.Unless ploy to take off market then buy on cheap.
charo
07/5/2019
16:26
No rns but filed at companies house.Thia group have no idea and chairman out of his comfort zone.
charo
07/5/2019
14:34
Hi Charo. Interested to see that Christopher Varley is no longer a Director. Did he resign. Was this an RNS as I can't see any mention anywhere.
tuscan4
06/5/2019
12:00
Palmer tompkinson should be next.
charo
06/5/2019
11:58
christopher varley terminated as director 30th april 2019
charo
06/5/2019
11:32
Apologies i gave board more credit than they deserve according to accounts meet 4 times per year.Outrageous.
charo
01/5/2019
08:21
The reason for discount is the board,crony governance at its worst.The board has been at best asleep meeting 6 times a year and doing the bidding of the major shareholder. A merger with a competitor or takeover is best for majority of shareholders.This is a small conglomerate that needs refocusing.
charo
30/4/2019
22:27
I'm just looking at the balance sheet from last year: £6.6m property&equipment, £6.8m stocks, £11.4m receivables. I presume current liabilities are not affected by the covenants but are £8.2m payables, £1.7m overdraft and some loan payments of £1.0m. I presume the bit affected by covenants is non-current liabilites which were pension and £2.2m interest-bearing loans and borrowings. On reading notes, I find £1.2m is finance leases and only £1.0m is secured bank loans. Is the covenant breach on a £1.0m bank loan? Note that receivables exceeds payables by £3.2m. If business quietens down, it might generate enough cash to pay the loan off! At the interims, P&E rose by £0.6m and receivables by £1.1m. Payables rose by £1.7m and the overdraft by £0.4m but, crucially,non-current interest bearing loans and borrowings (which is about half finance leases) fell £0.7m to £1.5m (while the current equivalent rose £0.1m to £1.1m). There must be hardly any debt there to have covenants on and it looks paltry compared to assets. If I look closer at year -end assets, land&buildings cost £4.5m but have been depreciated to £2.3m. Plant&machinery cost £16.5m but has been depreciated to £4.1m. I bet there's some hidden value in that lot. They added £3.0m new p&m in the last two years! (Back to year end numbers:) If the company downed tools tomorrow, the balance of receivables and payables (+£3.2m) and finished goods out of stocks (£2.5m of £6.8m) would more than settle all the current and non-current debt (£2.7m +£2.2m), leaving shareholders £0.8m cash, £4.2m of stocks and £6.4m of (undervalued?) fixed assets to settle about £1m of pension deficit, provisions and tax. On paper, at last year-end, there's over £10m of (undervalued?) assets left there against a market cap at suspension of £4.6m. If there's little debt to carry covenants, just what is going on here? Will they just factor the receivables (sell some off at a discount) to pay off a bit of debt and carry on as if nothing had happened? Refinance debt at a slightly higher rate? It has the look of a storm in a teacup or trying to pull the wool over shareholders eyes. Am I missing something? (e.g. Someone explain to me why finance leases are on the balance sheet but larger operating leases are not. Do these go onto the balance sheet under the new rules?) To be fair, it must be pretty annoying to directors when the company has consistently traded at a big discount to a pretty solid asset base but they failed to get support to take it private years ago. Shareholders wanted the status quo.
aleman
30/4/2019
22:18
Perhaps now some long needed changes will take place.pension fund regulator should step in to ensure le bas investment is being independently managed,been a terrible case of crony management. The new advisors are not capable?
charo
30/4/2019
20:43
https://www.shareprophets.com/views/42320/tex-holdings-from-two-weeks-ago-bank-covenants-breach-partially-caused-by-accounting-change-to-now-no-it-isn-t
newtothisgame3
17/4/2019
11:53
Is this board in any way independent of mr burrows.
charo
16/4/2019
12:46
We seem to have been here before - wait now for another MBO attempt.
rburtn
16/4/2019
09:05
At the same time, receivables are 40% higher than payables. If business quietens down, it releases cash that is tied up in working capital.
aleman
16/4/2019
08:49
The problem with the balance sheet is that it's stacked with receivables and payables And the moment you get a whiff of a small supplier having trading issues let alone covenant issues then suddenly they start looking for shorter payables terms and take longer to pay
pireric
16/4/2019
08:38
Got a small trade filled for 85p. Showing as a sell.
ramellous
16/4/2019
08:13
Can’t buy online
ramellous
16/4/2019
08:08
So one tiny sell has gone through at less than half NAV. We should really be buying at this level. You could buy the company, break it up, and double your money. The "modest loss" is just an accounting change. Nothing else is new in the latest update.
aleman
16/4/2019
07:50
It's worth remembering that NAV was 168p at the finals and higher by more than 5% (though unspecified) at the interims. After a "modest loss" and 2.5p dividend, NAV is still probably close to 170p - with no intangibles.
aleman
16/4/2019
07:42
The introduction of the new accounting standard (IFRS15) affecting the recognition of revenues has had an impact on certain projects. From the interims: 2. Significant accounting policies The condensed consolidated financial statements have been prepared under the historical cost convention. The same accounting policies, presentation and methods of computation are followed in these condensed consolidated financial statements as were applied in the preparation of the Group's consolidated financial statements for the year ended 31st December 2017, with the exception of the application of IFRS 15 and IFRS 9 which had no significant impact on the results. What's a shareholder to do? It had no effect then it had an effect. Other companies that have seen IFRS push revenue recognition back indicated it had NO effect on cashflows.
aleman
15/4/2019
18:59
Profits warning and breaching bank covenants. Dividend also gone.
battlebus2
19/2/2019
13:40
Testing what 😂
battlebus2
12/12/2018
17:52
That's a lot of complaining for a company that has paid out 50p to shareholder in 5 years. I wish my others were as bad.
aleman
12/12/2018
17:43
Needs investigating.company run by le bas remotely.
charo
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
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