Tricorn Share Discussion Threads

[meijiman] 29/4/2014 10:24

perky again after yesterday rise. the rating is very low so the selling was overdone. if management can get this sorted it should be a good growth stock.

[emmo1210] 16/4/2014 09:20

TS is generally upbeat which is positive. Personally think it will take 12 months to see it back on track again in growth terms. Some people have questioned management decisions to move into America and China in short order, which is reasonable, however I look at it that the diversification is good, especially with the weaker UK markets. Yes, added risk, but at the same time proper upside there as well.

[meijiman] 16/4/2014 08:37

Yes quite encouraging. I had a feeling many of the issues were temporary. In the US for eg it was inevitable that there there would be some customer loss as they bt the business from the receivers.China now making a contribution. One or two weak areas but the business has had some costs taken out.The rating leaves room for upside if you believe in the recovery story.

[alter ego] 16/4/2014 07:51

yes, should help support the share price Looks as if the worst might be behind us now.

[apad] 16/4/2014 07:13

Surviving - Phew.
apad

[meijiman] 14/4/2014 11:56

Be interesting to see what they say in the next update. I note a modest rise today. I'm not as gloomy as you ganthorpe -I think the problems are fixable but I'm not sure about how long it might take.

[ganthorpe] 03/4/2014 17:09

As for downside target , I mentioned on 11 Feb that mine was 15P.
I haven't bought back in although the current price of 16/17P is moving that way.
A lot depends on the promised April IMS which came on 9 April last year following on from the 31 March year end. It may be a bit later this year with China and USA to mull over.
Not looking good , but pre warned
GAN

[cnx] 01/4/2014 02:44

there was a trading statement last year on 9 april

[pugugly] 19/3/2014 15:50

Hargreaves Hale who are usually cautious investors hold 20% the Board 34.9% of which as APAD points out Alsop hold by far the most.

Not sure exactly what this tells us but share price looking very soggy. Small selling but even SMALLER levels of buying.

Anyone like to venture a downside target. ??

[charo] 03/3/2014 08:35

expect a loss of around 500k .lost revenue 2million at 35%.china will also cause problems in this year.

[apad] 17/2/2014 13:49

expectingvalue.com/shares/tricorn-tcn-5?utm_source=rss&utm_medium=rss&utm_campaign=tricorn-tcn-5

[apad] 13/2/2014 17:36

Allsop has 11million the rest are trivial and there has been no buying since 2009.
I wonder how that adds up to "a third of the share capital"?
Must check out the options.
Redman is still on the website and the US website is not impressive (perhaps that is not surprising).
apad

[mrx9000] 13/2/2014 14:39

I emailed the chief exec later last year and asked him why he hasn't bought any shares for a number of years.

Here is the reply that I got:-

"The Board of Directors own over a third of the share capital of the business and has unexercised share options on nearly 5m shares.

I myself joined Tricorn in 2003 and have been a shareholder for the last 9 years.

The last director share purchase was by my CFO in 2009 shortly after joining Tricorn.

I fail to see how any of the above could be seen as a lack of confidence in the business"

I didn't like the arrogant reply at the time and sold all my shares. Glad I did, however these are still on the watchlist!

[ganthorpe] 11/2/2014 12:57

Not sure what "material" is in analyst speak , but when I was one , it would be taken as about half of previous.
On that basis plus the knock on effects something like 15P looks about right.
I was one of those who thought trading on three continents including two new ones , was too much to take on for a firm the size of TCN.
I got out then but not going back in above 15P.Recovery looks like a slow job.
Pity , looking to recycle cash from Pennant but not here.
GAN

[emmo1210] 11/2/2014 09:56

Obviously not a good statement, however personally I would refrain from calling management competence into question. They have steered through the recession without publishing a loss and though there looks to be a loss this year it a year of big transition and you have to expect teething problems. I would suggest the reason PIs are buying in today is because they recognise that on the whole, management have produced decent growth in the last decade and that they view this as a hiccup and therefore a good entry point.

[apad] 11/2/2014 09:21

TCN Market Cap is now worth 7000 carbon fibre genoa poles, PJ.
Let's start a Pole Dancer board.
apad

[pj 1] 11/2/2014 09:18

lol

Apparently so, usually every time I either mention one, or alter my portfolio according to my perception of one..... :-//

[apad] 11/2/2014 09:17

Do barge poles bounce PJ?
apad

[charo] 11/2/2014 09:06

the geographical spread was always going to bite.the usa especially is difficult ,American management especially in south tends to react slow and customers react quickly to changing demands.not saying shouldn't be there but it will throw up problems from time to time.china shoud be avoided better to subcon than part or wholly own.time to rethink but sure management will.

[pj 1] 11/2/2014 09:02

Barge pole springs to mind !

[quidzinn] 11/2/2014 08:56

PIs hoping for a dead cat bounce

[apad] 11/2/2014 08:54

Remarkable number of pi buyers.
What have I missed?
apad

[apad] 11/2/2014 08:49

It's now a cash flow issue, the share price is largely irrelevant.
Relatively high borrowings.
Current liabilities withing 10% of current assets.
Sale of Redman now seen in context.
The tenor of the Interims was misleading and record quotations have not resulted in orders.
Management do not own enough of the business.
Locked in syndrome.
apad

[apad] 11/2/2014 08:49

It's now a cash flow issue, the share price is largely irrelevant.
Relatively high borrowings.
Current liabilities withing 10% of current assets.
Sale of Redman now seen in context.
The tenor of the Interims was misleading and record quotations have not resulted in orders.
Management do not own enough of the business.
Locked in syndrome.
apad