Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TP GROUP PLC. We currently have 15 research reports from 3 professional analysts.
|21Feb17 07:00||RNS||Board Appointment|
|16Feb17 16:40||RNS||Holdings in Company|
|25Jan17 07:00||RNS||Trading Update and Notice of Results|
|16Dec16 10:00||RNS||Holding(s) in Company|
|15Dec16 07:00||RNS||Board Change|
|14Dec16 07:00||RNS||Trading Update|
Frequency of research reports
Research reports on
TP GROUP PLC
TP GROUP PLC
15 Feb 17
At the current market capitalisation of £29m, we believe the shares are significantly undervalued. We estimate that the highly profitable Maritime business is alone worth at least £40m. With net cash of £9m at end-2016, this implies that the market is currently ascribing a combined negative value of £17m to the rest of the group, which together account for c.54% of group revenues. This is very harsh given the management actions to transform TP Group to a profit-driven Tier 2 specialist services and engineering company are bearing fruits across the divisions. TPG Managed Solutions is expected to more than double its profits in 2017, while TPG Engineering and Design & Technology are on course to deliver sustainable profits from 2019. Even if we ascribe zero value to Engineering, Design & Technology and Managed Solutions, the shares are worth 9.5p a share, a 38% upside from the current share price. BUY.
A healthy atmosphere for investors
31 Jan 17
TP Group continues its evolution from a cash-hungry research and development house to a Tier 2 specialised services and engineering company. The increased maturity allows us to apply a developed view of fair value with a more specific peer group SOP combined with a DCF. It currently returns 9.11p, implying significant potential for investors.
Small Cap Breakfast
14 Dec 16
Ultimate Products—The Telegraph reports Jim McCarthy, former chief of Poundland has been appointed Chairman of Ultimate Products ahead of a £100m listing in H1 2017. Ultimate Products owns the Beldray cleaning brand and the licence to sell Russell Hobbs and Salter electrical products in the UK. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
On a steady bearing
13 Sep 16
Half year results from TP Group confirmed that progress is in line with market expectations for the full year. Revenues, profitability and cash flow all continued to improve, and order intake is growing in H2. The company’s strategy is being consistently delivered and once the recapitalisation is approved, TP Group should be well positioned to augment organic returns and shareholder value creation with strategic bolt-ons. Our revised sum-of-the-parts fair value estimate, based on the new divisional EBITDA contribution in 2017, is currently 8.48p.
A capital idea
19 Aug 16
Ahead of the interim results to be announced on 13 September, which we expect to confirm solid progress by the group, TP Group has announced a proposed capital reduction. The move would eliminate the accumulated deficit and reduce the nominal value of the ordinary shares, enabling future creation of distributable reserves from retained profits, as well as the issue of shares at a premium in support of M&A opportunities and employee incentivisation. In our view, both reflect the progress of the company to date and future intentions to build shareholder value.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Time to go over weight
24 Feb 17
We believe equity investors are taking an unnecessarily cautious stance on the construction sector. Forward looking indicators (e.g. consumer confidence, construction PMIs and housing starts) point to a stable market and recent sales LFL are particularly encouraging (e.g. Marshalls). Near term margins may suffer temporary distortions as inflationary pressures build. However, history has shown that modest input cost inflation is actually a positive for earnings growth in the sector. Therefore, as we move into 2018, margin trends are likely to surprise on the upside.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced