Share Name Share Symbol Market Type Share ISIN Share Description
Tp Group Plc LSE:TPG London Ordinary Share GB0030591514 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.05 -0.81% 6.15 944,136 11:25:17
Bid Price Offer Price High Price Low Price Open Price
6.00 6.30 6.15 6.10 6.10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 39.04 -0.11 0.02 307.5 47
Last Trade Time Trade Type Trade Size Trade Price Currency
14:09:49 O 9,079 6.003 GBX

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Date Time Title Posts
25/11/202017:14TP Group plc6,816
17/12/201909:05TP Group (formly Corac)16

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Tp Daily Update: Tp Group Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker TPG. The last closing price for Tp was 6.20p.
Tp Group Plc has a 4 week average price of 4.60p and a 12 week average price of 4.60p.
The 1 year high share price is 9.10p while the 1 year low share price is currently 3.85p.
There are currently 758,565,854 shares in issue and the average daily traded volume is 2,790,228 shares. The market capitalisation of Tp Group Plc is £46,651,800.02.
pavey ark: I can honestly say that I have never looked at Vega or Cartmell's time/performance there in any detail. I have said often that I am not an apologist for Cartmell but certain points must be made about his time at Corac/TPG. The first and major point to be taken into consideration is that Cartmell did not inherit a working, functional, let alone profitable, company ....he got Corac. Corac was ....wait for it ...a pipe dream...sorry about that. Even now, all these years later, the air bearing compressor is only a small part of the engineering unit. Cartmell somehow managed to score a 10.5p a share issue in 2012 which had followed from a previous 13p share issue and we all know about the £20m+ raised at 6.5p in 2017 when I suspect the institutions were in too deep to pull out. The Vega deal may have helped with the first two and without them he simply didn't have a company. The acquisition of Wellman defence was a master stroke and if he had started from here without the old compressor business the company would have made a profit from day one....and a good profit at that. Unfortunately , after the previous management had spent many millions on the downhole compressor, the company persevered with it a bit too long as perhaps they did with the heat exchanger business they bought at the same time as the defence business. I was critical of the large fund raise three years ago simply because of the dilution caused by almost doubling the shares in issue. Problems continued as the management committee charged with spending the cash were very careful especially as they did not want to simply go out and buy a company with a certain turnover and profit but it must be one where the existing TPG customer base and contacts could be used to increase the acquired company's value. When looking at progress I alway look at the last 3-4 years as that is time the company was/is evolving. With the remaining engineering unit still making steady and considerable profit money was spent building the consultancy unit and now the digital solutions unit....both trading on TPG's contacts, reputation and crucially the security clearance the company has. The company can only really be judged on what it has become in the last three years and if we take the massive Covid gyrations out, the graph of the last three years shows an upward gradient with an annual compound growth of almost 10%.......remember that over a large part of this period they had a large (unproductive) cash balance. I bought more recently because I did not consider the 5p share price to be anything other than an distortion caused by an institutional seller and people misinterpreting the H1 results (not to mention their reaction to the sale of a loss making unit) My 10% compound is based on a rather conservative 7.5p "real value"but I expect the figure to be higher than this sooner rather than later but that is only my personal view and the basis for my personal investment decision. Obviously we are at the age old "you pays your money takes your chance" situation. Even without the very obvious additional and recent plus points of Hydrogen/oxygen , carbon capture, renewable energy and the very recent increased defence spending I do feel that the company is where management intended it to be and it looks a very sound investment.
tday: I am sure Phil Cartmell keeps a weather eye on the share price. He has considerable share options, some of which have already lapsed, with the remainder in danger of going the same way, unless the share price meets the option target which, from memory, is set at around 9-10p, still a long way to go. At the time the options were granted, the target price didn't seem at all demanding. How times change.
pavey ark: I see the old Kiwi fruit is at it again. I had a look at his posting this year. Good rise in share price .....nothing. fall back in share price......"ah this always happens with TPG" Nothing for a while then a chance to comment (negatively) on the delay in reporting. The 2019 results put him in his box for a while as even he couldn't claim that TPG wasn't profitable. Now after only one or two non consequential/nothing posts over a six month period he is now wetting his knickers with glee and posting his usual rubbish. We have a number here with the same rather strange views as Kiwi and I have no doubt this carries over into their daily lives , most here post regularly but being a lurker put him in a league of his own........probably not for the first time. A minor point that no doubt will be ignored but if TPG have a large consultancy/digital solutions arm they can't have large tangible big factories/lorries/ machines........this is not to say that they don't have worth. On a more general note: buying selling shares is down to the individual. Buy today you may a make tidy profit ...sell and you may save a further loss BUT it is your decision and it is totally down to you. Cartmell!! Woe is me !! or the really pathetic "its their fault....nothing to do with me" Get a grip !! Analyse(hopefully rationally)...factor everything in ...make a decision...if you get it wrong pull up your knickers and move on!!
kiwihope: You can debate the figures but whatever way you look at it the sale for £1 is disappointing. It doesn't hurt cash now but impairments were cash once. I do think the previous investment shows poor judgement by management although I am the first to admit that it is not always so obvious at the time. The only positive I can take is that at least they have cut their losses now rather than just pouring good money after bad. Not a good period for TPG. Without profits the only floor to the share price is net assets at about where we are now. But 2/3 of that is intangibles and we have just seen how unreliable they are. Basically with bad sentiment the share price could easily fall further, especially as the wider market is drifting down with increased worries about covid and lockdowns. We just have to hope that management finally wakeup and realise that they need to start making some after-tax profits with what they have got and stop trying to continually make their empire bigger.
pavey ark: Most will (should) remember this. Tpg paid 0.7m Euro for a 36% stake to add to the 33% that came with Sapienza then got the remaining 31% for nothing!! One of our keyboard warriors suggested that this implied that the acquired company was now worthless. I would suggest that this company was very attractive to TPG with its AI ambitions but the (very) minority shareholders were now faced with paying 31% of whatever amount that TPG was going to spend on this company....."no thanks we're out". looks like TPG have got this very much on the cheap and can now slide it into their new Digital Solutions unit. You'd almost think there was a plan here.....wait a minute!!! So Sapienza...what a mess....just a 1m Euro a month consultancy deal with ESA (for 30 month)...Eclipse software suite (that TPG are busy and successfully selling round Europe...6 ready set up offices across this !!!....what were these guys thinking ??
buywell3: same olde Pavey Ark - 23 Jun 2015 - 16:22:01 - 51 of 6509 TP Group plc - TPG supernumerary, you had me going back a bit to remind myself what I had actually said. Large holders here have stumped up cash at 10p and above so I don't think they will be doing much ducking and diving at these levels. It had been brought to our notice, by another poster, just how much is held by the institutions and they showed their interest when the management options had the 15p rider imposed on them. The only thing that could possibly explain the current share price is the disgruntled "compressor" investors and the small time aim investors who are happy to lift a £200 profit, selling. I would think that the real value will come with a sale and then I doubt if people will get much warning nor will it be for less than 15p I am very happy with the progress made and only slightly bemused by the share price movements. NB: bemused but not in the least worried or angry.
thompsonminor: PA There's no doubt that your personal knowledge of the TPG finances is deep and reasoned and, like many others, I'm grateful for your research and your positive slant on the status quo. Notwithstanding all of this, the fact remains that the company's share price suffered a monumental drop - 18% in a single day - after the latest trading update showed a worsening picture; margins eroded and a wider loss. No doubt, Covid has played its part here, but no apologist can cover over the fact that in the decade or so that Cartmell has been at the helm, the company's fortunes have not improved. So, the question is, can anyone have confidence in the senior management's ability to provide a sustainable and growing profit in the near or long term? My beef with Cartmell is the seeming arrogance of the man who takes £500k salary from the business and then watches (apparently without any sense of responsibilty) as many investors lose (significant) sums of money on their investments in the business he is supposed to be "leading". Perhaps he should'nt have been surprised by the share price drop because with 75% tied up in fund managers, that leaves just 25% "liquid" shares, and many of those 25% holders took one look at the recent trading update and thought "sod it, my patience with this loss-making business has been stretched too far". As I've said before, Cartmell has lost the backing of many PI's. To turn things around, he should re-think his whole engagement strategy, and set up an Investor Webinar at the earliest opportunity; to explain his strategy in greater detail and get us PI's back on board. Failure to do so will just result in greater volatility in the share price for some months to come.
pinemartin9: Yes, the low share price and very poor reaction to the results must have been noticed by the BOD. I think the newsflow in the run up to results has not been seen to feed through to the numbers. Either they were window dressing for some reason (could it be because they needed to have a certain share price to realise some incentives, total guess btw)or that they are desperately trying to give the impression of a highly active innovative company? Either way, I agree share price purchases by the management would be a strong signal to the market now. My concern here is lack of a physical product so to speak. Time based consultancy and hours booked to projects will only ever be of limited profitability. They need to build IP and license out for recurring revenue or protect IP by manufacturing a product themselves. If they are simply providing some consultancy to a project then this is going to bring in limited revenues. AI, digital solutions and clean gas are the focus areas moving forwards. Hoping for a rabbit out of the hat at some point. I'd love to buy a share that goes up one of these days.
kiwihope: Hi Paulgo, "...But are you really trying to say that EVERY company's share price is based solely on 'sustainable after tax profits'?..." No I am not saying that. Of course there are fluctuations as a result of news, sentiment, wider economy, etc. But over a time period of some years, which tends to average out all these movements, the share price will be dependent upon how much profit the company is making. This can be distributed to shareholders as dividends or retained to drive future growth. If you look at the TP share price it has bounced around between 6-8p for the past 4-years. The pre-tax profits for those years also bounced around between -£0.11M and -£0.60M. Like it or not the best way to grow the share price it to move those pre-tax profits into positive territory and stay there. Of course there may always be some single major event which materially moves the share price. The classic is a takeover bid. Another may be some huge discovery or invention. But these are totally unpredictable. The best way to make money in the long term is to buy into solid companies that can sustainably grow profits. TP group shows promise but it hasn't done it yet.
kiwihope: Hi timo, You are wrong. I guarantee one thing that will boost the share price. It's the thing I've been banging on about for years on this site... ...Sustainable after tax profits! TP group still only has eps of 0.2p per share on a share price of 6-7p. You and others can go on all you like about prospects, orders, opportunity, etc. But until the company starts making real profits, after tax, then the share price won't move permanently. All that happens, and has happened for a few years now, is a positive news release boosts the price but then it slowly drifts down. The reason for this is that the company is presently over-valued on fundamentals and it is only the constant release of these positive statements that keep the price up where it is. Now before you start having a go at me because I am challenging the status quo on this thread, I have been a holder of TP shares for years and years and have quiet optimism that one day they will come good. But it hasn't happened yet and won't do until eps grows to a larger positive value. If it could get to 0.4 - 0.5p, accompanied by a positive outlook, then I think we could see a real sustainable increase in the share price to 10p and beyond.
Tp share price data is direct from the London Stock Exchange
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