Tex Share Discussion Threads

[cockneyrebel] 18/6/2007 10:35

Cheers, yep, looks like it has been very hot and cold.

Will watch for the AGM statement - ta.

CR

[ntv] 18/6/2007 09:50

cr
i have looked at this one several times
chairman owns all the property
don't see the point of it being listed other than to tell his mates he owns so many shares in it
can pay a high dividend one year and virtually nothing the following it just depends on profits

[cockneyrebel] 18/6/2007 08:29

AGM tomorrow.

If you buy now you still get the 4p final divi next week. I'd be amazed if these were paying a 4p final divi if they thought this year was that tough.

Seem very cheap considering they made a big provision last year too.

CR

[lasmo] 28/3/2007 23:21

Nice to see a bit of interest in TEX. I've held these shares for the best part of 15 years. I really hope that these shares don't becoming a traders share. The majority of the stock is held in long term hands. The MM's hold very little stock. Hence practically anyone can move the price. This is bad for the company, as the price can move without any real justification. The company hasn't helped over the years either, as to be honest, they have not managed the presentation of news to the market very well. The way I view this stock is that it is a long term bet. The dividend has stood up well over the test of time. The pension problem seems (at last) to be behind them. My view is buy at a sensible price say 100p - 130p....and tuck them away somewhere. Take the dividend and wait for a take over or Management Buy back...which I believe both are possible at north of 170p

[meadow50] 28/3/2007 17:08

RIV
Thanks for the warning and your good luck wishes.The 4000 shares I bought yesterday were at 116p but on the numbers they still look cheap at today's 123p+ .If they do switch to AIM it might not be a bad thing because it would be one of AIMs highest yielders and attractive to those AIM funds being touted to elderly people at seminars to escape IHT.
As to the miserable Director u spoke to ,only Harrison has any shares at all..1.74%..so only he might be interested in switching to AIM for IHT reasons.Dont know why your man was trying to put you off...per announcement order book was up at 10m and big contract coming to fruition in 2nd half.Congrats on your research...I'll see whether Burrows,Cadbury,Corbett or Greve leave in the near future...obviously one of them is not happy with his work...

[rivaldo] 28/3/2007 16:36

Careful with this one meadow50. Just to say having looked at what are decent results I phoned the company. Two main points:

- they're ISAble, but have considered and are considering moving to AIM. So no point/incentive yet in either ISAing them or buying them for taper relief due to uncertainty
- the director I spoke to gave the most downbeat assessment of prospects of any director I've ever spoken to - and that's a lot of directors! Not just realistic, but depressing, about Chinese competition, the state of manufacturing, potential for growth over this year...I'd have said he was actually trying to put me off. And he succeeded!

Good luck anyway - I'm staying clear!

[meadow50] 28/3/2007 16:23

up 7% today...can't be bad

[meadow50] 27/3/2007 16:51

Looks as tho I'm the only holder of these on the BB but today's results were excellent and the hike in divi to 7p/share good news indeed.With the NAV now 125p and todays share price 117 they look like a bargain imho.Couldnt buy a meaningful no on line (tiny capital but isaable-)so had to telephone order thru Hoodless Brennan who picked up 4000 for me.Hope they are easier to sell when ..or if ..the the time comes.DYOR

[vs] 15/9/2006 13:19

TEX HOLDINGS PLC
INTERIM STATEMENT

Tex Holdings plc

Chairman's Statement

Tex Group sales for the six months to 30th June 2006 amounted to £16.83m which
was a rise of 5.82% on the comparable period figure in 2005. Pre-tax profit
earned in the first six months was £531k which was fractionally up on the 2005
figure at the interim stage.

The Plastics Division turnover £9.06m compared to £9.58m in 2005, principally
due to a shortfall in demand at Tex Plastic Products in Barnstaple. Pre-tax
profit earned was £191k as against £427k in 2005 as a result of margin pressure
and the lower volume at the Devon facility. Corrective action has been taken to
enrich the mix of business undertaken and selectively enhance margins, and on
current indications the second half should see a strengthening of bottom line
performance.

The Engineering Division saw turnover climb to £4.24m, up from a level of £3.1m
in 2005. Pre-tax profit was modest at £137k, but a welcome turnaround from the
loss sustained in 2005. The current order book in this division is encouraging
and indicates a significantly more profitable six months in the second half.

The Boards & Panels Division comprising the newly re-branded QK Honeycomb
Products Ltd saw sales up some 6.5% on 2005 but with a more modest profit figure
recorded due to competitive margin pressure.

In overall Group terms, the second half trading is currently expected to be
stronger largely on account of the BSP order book within the Engineering
Division. Bank borrowing is anticipated to reduce in the second half on the back
of positive cash flow. It is thus the Board's intention to pay an interim
dividend of 3 pence (2005 interim: 3 pence) which will be paid on 8th November
2006 to Shareholders on the register as at 13th October 2006.

TEX HOLDINGS PLC
CONSOLIDATED INCOME STATEMENT

6 months ended 6 months ended Year ended
30.6.06 30.6.05 31.12.05
(Unaudited) (Unaudited) (Audited)
£000 £000 £000
Sales 16,830 15,907 31,685
Cost of Sales (11,234) (10,369) (23,491)
--------- --------- ---------
Gross Profit 5,596 5,538 8,194
Selling and Marketing Costs (445) (562) (1,000)
Administrative Expenses (4,423) (4,189) (6,446)
--------- --------- ---------
Operating Profit 728 787 748
Finance Costs (197) (260) (436)
--------- --------- ---------
Profit before Income Tax 531 527 312
Income Tax Expense (153) (156) (100)
--------- --------- ---------
Profit for the Period 378 371 212
========= ========= =========

Basic earnings per share 6.0p 5.8p 3.3p
========= ========= =========
Diluted earnings per share 6.0p 5.8p 3.3p
========= ========= =========

[vs] 20/6/2006 13:19

Tex Holdings plc
Annual General Meeting - Tuesday 20th June 2006

Chairman's Brief Update on Trading

Whilst the early months of the current year were disappointing as noted in my
statement of April 28th, trade levels have picked up markedly in May and June.
Accordingly, we are anticipating that the interim results for the six months to
June 30th will be satisfactory and comparable with last year.

The Group order book has built up to a current level of #11.5m, which is higher
than usual and augurs well for the second half and full year. Our outlook on
2006 is thus more positive than when I last reported to you, and we are hopeful
of achieving a better return for shareholders.

[jhan66] 28/4/2006 08:12

said results out in April on 10th. I'd be nervous right now if I held Tex.

[lasmo] 15/3/2006 19:40

What's going on....more buying than selling yet price has dropped around 10%!!

[ntv] 16/9/2005 07:49

chart BO as well
divi will give some support but you will never make a fortune here unless lumpiness from earnings disappears

[ntv] 15/9/2005 08:30

bought a few today
doesn't look unreasonable for a short term move to 140p

[puku] 15/10/2004 14:02

to be fair they did say that the new financial year had started more quietly than expected. thats why I wasnt tempted by the yield. i'm no longer sure that their mix of products can result in a growth story. dropped off my screen but good luck to all.

[lasmo] 06/10/2004 14:18

Aderemi,
If you look at the selling volume when the MM's marked the shares down 30p, it was very low. That's why they are bouncing back up on very little buying i.e. the MMs are holding little stock. At the end of the day, I think the shares are fairly priced and we should wait for a trading statement in Nov. What bugs me however is how the management gave a completely different picture to the market within a very short time frame....i.e. things were looking good, dividend was up etc.....then all of a sudden,....oh dear things are not quite as good as we thought. Wild swings in the news is not good for investor confidence.

[aderemi] 04/10/2004 12:38

There is has been some buying today up 7%. Director buying? Am I missing something

[aderemi] 22/9/2004 21:04

Just in case you missed it. Tex down almost 20% (ouch!!) - I didn't even notice until after 4.30.
-----------------
AGM STATEMENT
Trading results in the first half have continued to be below expectation.

Order volumes in the engineering division have fallen short due to currency
pressure on export sales and delays in major contracts being signed off. In the
plastics division, the problem is more one of margin pressure in a competitive
market and in boards and panels, the loss of key retail contracts adversely
affected budgeted profits.

Accordingly, pre-tax profit in the first six months is presently expected to be
significantly lower than in the same period last year.

In the second half the outlook appears to be more positive and an update on
prospects for the full year will be given when the interims are announced in
November.
----------------

They might have 2more profit warnings to give, remember the old rule of 3.

[lasmo] 16/8/2004 09:50

What this stock really needs is higher profile. The majority of the shares are held by long term share holders. MM's hold very little.....thats why small volumes can a large impact on the price. A few more small investers taking an interest in the stock would a have a great benefit.

[puku] 13/8/2004 16:25

an L/c should be rock solid, but having personally experienced similar problem in africa, it might be that the Central Bank concerned couldnt immediately cover the forex position. having said that, the deal was sanctioned by UN and DTI, and 30%was received in July so I feel the risk is small.
Trading in new year "quieter than expected" but if they get the expected orders, it will look cheap at 140p today. So - get in now ahead of the game or wait for interim ? Havent decided yet, but the 7% yield is tempting !

[doubleorquits] 06/8/2004 19:26

Interesting that they are just about the same level as when I started the thread and have been up much more. Outlook is uncertain and the market does not like that at the moment.

Still watching but they are not as cheap as they were for my liking anyway. Yield still tasty and, to be fair, they have raised it, but I share Lasmo's caution for now.

[aderemi] 06/8/2004 15:03

doq,
result out -- but since then the share has fallen to 140p compared to a nav of 150p or so. yield is at 6.6%. Outlook is not so great but do u think they are still a bargain.

[lasmo] 23/7/2004 09:12

Looks stinky to me. I speak to Tex yesterday however they "appeared" relaxed. I did find out that the LC will expire in October....after which they would be in a real pickle.

[doubleorquits] 22/7/2004 18:54

I see Weir are having to investigate payments on their Oil for Food programme. Not quite the same as TXH problem but illustrates uncertainties with dealings in Iraq at the moment.

[doubleorquits] 20/7/2004 20:43

Lasmo,

Not holding but still watching. Not sure what to make of this but the market definitely doesn't like uncertainty at the moment and as far as Iraq is concerned it could be even worse.

could well be a buying opportunity but at the moment I am inclined to wait. I feel that it might pay with a number of stocks to wait for positive news to out even if it means missing the first part of a rise. UKC is another one today - down 17p initially but soon got half of it back.