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Tanfield ShareCast News (TAN)
ShareCast News for Tanfield (TAN)
| Share Price: 26.75 | Bid: 26.50 | Ask: 29.00 | Change: 0.00 (0.00%) |  | ||||||
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XP Power Chairman keeps the faith
Mon, 23rd Jul 2012 16:32
James Peters, the Deputy Chairman of XP Power, which makes power control components for the electronics industry, underlined his support of the company with the purchase of 11,000 shares on the same day the company posted declining half year revenue and profits.
Peters handed over 1,010.50p per share for a total of £0.11m. He now owns 2.2m shares, equal to 11.38% of the issued share capital.
Profit before tax for the year came in at £9.6m (2011: £11.9m) on revenues of £46.5m (2011: £51.9m), pushing the gross margin from £25.7m to £21.8m. This was mainly due to weaker order intake in the latter part of 2011 as industrial electronics demand softened in response to the weaker macroeconomic outlook.
Gross margin was reduced to 46.9% (2011: 49.5%) due to a combination of Vietnam start-up costs and lower factory loading, the firm said.
More positively, it has expanded its own-design products, which now account for 61% of revenues (2011: 55%) and second half revenues and earnings are expected to be substantially higher than those achieved in the first half of the current year.
The share price has fall 34% in the past year, equal to 520p.
Top Director Buys
XP Power Ltd. (DI) (XPP)
Director name: Mr James E Peters
Amount purchased: 11,000 @ 1,010.50p
Value: £111,155
Tanfield Group (TAN)
Director name: Mr Roy R E Stanley
Amount purchased: 238,905 @ 42.00p
Value: £100,340
Dods (Group) (DODS)
Director name: Sir Sir William Wells
Amount purchased: 250,000 @ 4.75p
Value: £11,875
Amphion Innovations (AMP)
Director name: Mr Richard James Macaleer
Amount purchased: 265,129 @ 3.92p
Value: £10,393
NR
Peters handed over 1,010.50p per share for a total of £0.11m. He now owns 2.2m shares, equal to 11.38% of the issued share capital.
Profit before tax for the year came in at £9.6m (2011: £11.9m) on revenues of £46.5m (2011: £51.9m), pushing the gross margin from £25.7m to £21.8m. This was mainly due to weaker order intake in the latter part of 2011 as industrial electronics demand softened in response to the weaker macroeconomic outlook.
Gross margin was reduced to 46.9% (2011: 49.5%) due to a combination of Vietnam start-up costs and lower factory loading, the firm said.
More positively, it has expanded its own-design products, which now account for 61% of revenues (2011: 55%) and second half revenues and earnings are expected to be substantially higher than those achieved in the first half of the current year.
The share price has fall 34% in the past year, equal to 520p.
Top Director Buys
XP Power Ltd. (DI) (XPP)
Director name: Mr James E Peters
Amount purchased: 11,000 @ 1,010.50p
Value: £111,155
Tanfield Group (TAN)
Director name: Mr Roy R E Stanley
Amount purchased: 238,905 @ 42.00p
Value: £100,340
Dods (Group) (DODS)
Director name: Sir Sir William Wells
Amount purchased: 250,000 @ 4.75p
Value: £11,875
Amphion Innovations (AMP)
Director name: Mr Richard James Macaleer
Amount purchased: 265,129 @ 3.92p
Value: £10,393
NR
Wednesday broker round-up UPDATE
Abcam: Canaccord Genuity moves target price from 344p to 358p, but still recommends selling.[20 Mar '13]
Tanfield Group considers approaches for cherry picker business
Aerial work manufacturer Tanfield Group said Wednesday it has been approached by number of companies interested in taking over its cherry picker business.[20 Feb '13]
London close: Stocks finish flat, Sterling up but overbought
Footsie's movements were being directed by the Grand Old Duke of York today and, as in the old nursery rhyme, ended the day more or less neither up nor down.[21 Sep '12]
London midday: Stocks tread water
- PSNB slightly lower than expected;- Lonmin downgraded after paying to settle strike;
- US expected to open higher
[21 Sep '12]
London open: Miners bounce back
- Xstrata expected to comment on looming Glenstrata bid deadline- HMV hammered again as LFL sales slump
- Miners bounce back from yesterday's battering
[21 Sep '12]
Tanfield slumps on IPO cancellation
Shares in Tanfield, a global manufacturer of Powered Access equipment and an investor in Smith Electric Vehicles, announced that on Thursday Smith decided not to pursue its planned initial public offering (IPO) after the valuation size proved too small.[21 Sep '12]
XP Power Chairman keeps the faith
A round-up of the biggest director deals today so far.[23 Jul '12]
Tanfield raises funds to lend to US associate company
Tanfield Group, which makes aerial work platforms, has placed shares in the market at 42p each to raise funds for a bridging loan for associate company Smith Electric Vehicles.[17 Jul '12]
