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With conglomerates, the sum of the parts is usually worth significantly more than the whole. Except in the case of TPG. Rather than selling Corac (Marine), it could be floated LOL on AIM. 50-60m capitalisation is about right. If they did that, shares would definitely be worth a punt (Corac, not rump TPG).
TP group have around £300K in the bank spare , if you take debt and cash at hand.
On the marine side looking at last years accounts the profit was £5 million plus admin from TP group of £2 million.
Just taking the £5 million and compared to peers would see a 12 fold value of £60 million.
'The engineering sector left would be worth more then current value' !!!? After careful consideration, and in cold light of day, hard to comprehend, but you are dead right - gulp.
Simply Wall Street has no objectives and basically a fact indicator , really handy
Had another thought they could split the company into two parts with fund raise for consultancy part.
The engineering sector left would be worth more then current value
Time for full steam reverse ? Sell off consulting and invest in Corac (aka Marine). Always thought the move into consulting and AI was the way forward but one look at the margins suggests otherwise. Wonder how much Sapienza and Osprey are worth ? Sadly, looks like Simply Wall Street got it right with whole company at fair value 3p.
Thordon - I am sure you appreciate that simplywall.st analysis only skates lightly over the figures - but nevertheless you're right to highlight the debt concerns.
It makes me more and more convinced that it is a 'firesale' why Cartmell is proposing to dispose of the Marine engineering division.
Yes, it'll tidy up the deckchairs on the ship a bit more and allow them to focus instead on 'Consulting', but nevertheless that cash gives them more time to weather the trading storm the group has been in for a very long time.
https://simplywall.st/stocks/gb/capital-goods/aim-tpg/tp-group-shares/news/is-tp-group-lontpg-using-too-much-debt
posted 1 day ago
The point is for last 7 years no debt , if you look at graph then why the sudden rise of debt from zero last year to £7million.
Another point when you buy a company there is a set rate , in other words i pay £6 million with a £1million net profit.
Can not see the correlation on TP Group acquisition.
The Warning was the crown company's assets up for sale , if going by the ceo skills then sold cheap.