Tricorn Share Discussion Threads

[cambium] 05/3/2012 16:30

great action today

[interceptor2] 05/3/2012 14:24

Below is how GCI view todays news, good to see Westhouse have a 50p target price. And I assume the £2.0m PBT forecast would be for 2014?

ic2...



Tube manipulation specialist Tricorn (TCN) has unveiled plans to expand in China by opening a new manufacturing facility.

AIM listed Tricorn already has a string of customers in China, but the establishment of its own operations would likely help it attract additional business. The plan is for the new facility to be ready by the end of the current year, with the likelihood it will boost earnings by 2014. Indeed, the planned expansion has pushed house broker Westhouse to edge its pre-tax profit expectations up £100,000 to £2 million.

Tricorn has had a purchasing office in China for eight years, which has helped it secure a network of suppiers and sub-contractors, so the move is a natural progression. We have remained long-term supporters of Tricorn and view the move as positive, though its clearly too soon to discuss the likelihood of significant upgrades. At 36p, the shares have more than doubled since our advice to buy last year. Westhouse has a price target of 50p, which is not unrealistic.

[interceptor2] 29/2/2012 21:25

Hi cfro, I haven't the Westhouse research note, but I have the forecasts. Almost complete but strangely I can't see the 2013 EPS figure.

2012 PBT = 1.54m and EPS = 3.40p
2013 PBT = 1.68m and EPS = ????

ic2...

[interceptor2] 28/2/2012 23:10

Very good point about holding onto quality stocks cfro, because my nephew and nieces portfolio are small, I have tried not too deal to often. And this has worked well with CMH and TTR for them, two stocks that I should have held onto. (TTR since brought back)

Infact TCN is a stock I would have been better off just holding since this time last year, rather than trying to be clever buy selling and buying back.

Thinking about it, have we been a bit hasty with TRB?

ic2...

[cfro] 28/2/2012 22:38

I just wish i had an uncle like you IC2!

CMH and TCN on similar multiples, so probably not alot of difference between the two. Is it too late to get back into CMH, i dont know...maybe maybe not.

I think there is a lesson to be learned here tho. Sometimes it does pay to keep a hold of quality stocks and have some patience. It quite often takes time in order for good investments to show their mettle. I was too quick to sell mine last July.

[interceptor2] 28/2/2012 19:44

Yep I noticed CMH today, I have an interest in them still not in my nephews portfolio, but in a small portfolio I started for my 16 year old niece, in my account though at the moment.

Maybe it's not too late for CMH, but might just await the next update first.

ic2...

ps... I had 3.5p pencilled in for TCN, which I think shouldn't be that far away.

[cfro] 28/2/2012 18:55

Thanks for that article IC2, nice. I had 3.4p eps penciled in for my own figures and i reckon now they could do 3.9p for next year. That could still be beat depending.

Lovely rise today on that back of the trading update, will now look very much forward to April's update. As an aside have you noticed CMH recently IC2? Im kicking myself for not buying back inot that one.

[interceptor2] 28/2/2012 14:44

Nice comment from GCI, i couldn't have put it better myself. See below...

ic2...

"Tube manipulation specialist Tricorn (TCN) is making a habit of surprising on the upside, with another news announcement confirming results will beat market expectations.

Buoyed by strong demand across all its three operating subsidiaries, the AIM counter is on track to deliver further margin growth. Trading in its final quarter to March has continued to be strong, so house broker Westhouse has upped its 2012 pre-tax forecast by six per cent to £1.54 million, which would deliver EPS of 3.4p.

Speaking to Growth Company Investor, chief executive Mike Welburn said 'we are enjoying good trading momentum, and see great potential to deliver further organic growth.' The appointment of a new sales director has helped open new doors, and the new managing director of its weakest arm (aerospace) has led to a recovery in its fortunes.

We suggested buying the shares a year ago at 16.75p, so the more than doubling of the price to 35p is an impressive achievement. With the likes of customers Rolls Royce and Caterpillar doing well, there is clearly a good headwind for Tricorn so there should be more to go. Expect another trading update in early April. Buy."

[interceptor2] 28/2/2012 09:38

It's a funny old business investment, a battle of fear and greed and all other emotions into the mix. We all knew TCN was very cheap at 25p 26p level, I did buy some at this level, but with hindsight I wonder why I wasn't braver and brought more aggressively.

Wish I could invest using hindsight.

ic2...

[cfro] 28/2/2012 08:51

Absoloutely brilliant news! :0)))

Looks like you were right with your research on margins IC2, very well done.

Its times like these where you find yourself kicking the cat in frustration wishing you had bought more lower down.

[interceptor2] 28/2/2012 08:30

Looks very promising with op margins at all division ahead of H1, will look forward to the next update on 3rd April, when they normally indicate expected figures.

ic2...

[daz] 28/2/2012 08:05

Hopefully the update and the likelihood of upgrades to this and next years numbers will allow the shares to break out sometime soon.

[glasshalfull] 28/2/2012 07:40

Lovely ;-)

Demand remains strong....margins increasing & results AHEAD. Exactly what we dared to believe in our recent commentary.

Well done to TCN team.

Regards,
GHF

[stegrego] 28/2/2012 07:28

Good stuff

[alter ego] 28/2/2012 07:14

"The Group has made an encouraging start to the final quarter with demand remaining strong and operational performance continuing to improve. Operating margins in all three of the Group's Divisions are anticipated to be ahead of first half performance.
As a result the Company expects that full year Group PBT* will be ahead of market expectations."

www.investegate.co.uk/Article.aspx?id=201202280700182154Y

[interceptor2] 24/2/2012 11:57

A bit of selling this morning for a quick profit, but not by me. Any positive news and we could see a strong breakout over the 38p resistance.

I can't remember much buying near the 38p high in July, so there might not be that much resistance with any stale bulls waiting to sell.

ic2...

[delseyd] 24/2/2012 09:21

Ta Shauney, it must have been an order being filled. Good vibes...

[shauney2] 23/2/2012 10:18

More available today delseyd.Cheaper too.
Good to see the pullback.Gives some new investors a chance.

[cfro] 23/2/2012 10:08

I say there is every chance of a TS before April 3rd too, IC2. If there isnt, then it could still be that they are trading slightly ahead and will announce that on that date or even 2 or 3 days before.

I do get the feeling that these are trading well.

[interceptor2] 23/2/2012 08:40

When I received a reply from the CEO last week, directing me to the website where the next scheduled trading update is listed 3rd April. I concluded there wouldn't be one before this date.

But on reflection we still could see one, because if they were not intending to issue one, I believe he would have said.

Like cfro, I believe the Aerospace division is performing strongly and is likely to be in profit now which will make a significant difference to margins. And we already know that Caterpillar (largest customer) have been performing very strongly.

After reporting EPS 1.55p at the interims, and 3.2p forecast to the full year year, it is likely that the are ahead imv.

ic2...

[delseyd] 22/2/2012 15:16

Tried to buy 5000 with no joy! There is a very small free float on this stock I remember.

[cfro] 22/2/2012 14:53

Very strong share price movement again today. :-)

[pedr01] 22/2/2012 11:36

re: TSW; Looks like a big seller in the background ??? ... bought some this morning and limit was 50,000 to buy.