6 Aug 2014 10:49
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Don't have an account? Click here to register.Tricorn dives as chairman sees growth 'slowing'
Wed, 05th Dec 2018 09:01
(Sharecast News) - Tricorn saw its shares drop on Wednesday as it warned of a slowdown in some end markets despite reporting a "significant increase" in interim profits.For the six-month period ended 30 September the tube manipulation specialist scored profit before tax of £0.6m, up 49% compared to the same period last year, driven by improved profitability in its transportation division and further progress in its Chinese joint venture.Andrew Moss, chairman of Tricorn, said: "The group has made good progress over the past six months with a focus on margins which contributed to a significant increase in profit before tax and a 52% increase in earnings per share compared to the first half of last year."However, revenue remained flat at £11.4m, with improvements stemming from reduction in administrative costs rather than higher sales.Cash and cash equivalents stood at £0.6m at 30 September, down from £0.9m at the same point last year."Over the past two years, we have seen significant growth in our end markets. However, towards the end of the period, we witnessed signs of this growth slowing. Against this background, and after considering the impact of new business wins, the board anticipates group revenues in the second half to be similar to the first," said Moss.Moss added that full-year underlying profit before tax was expected to be in line with market expectations.Tricorn's shares were down 13.33% at 19.50p at 1116 GMT.
More News
10 Jun 2014 10:43
Tricorn Group Swings To Pretax Loss On Costs
LONDON (Alliance News) - Tricorn Group PLC Tuesday said it swung to a pretax loss in its full-year as increased revenues were offset by restructuring costs along with the cost of setting up operations in China. The tube manipulation specialist posted a pretax loss of GBP999,000 for the twel
Read more16 Apr 2014 14:05
CORRECT: Tricorn Full-Year Revenues To Decline Less Than Previously Expected
(An item published at 1121 GMT, misstated the company's name at the bottom of the article. The correct version follows.) LONDON (Alliance News) - Tricorn Group PLC Wednesday said that revenues for the year just ended will be lower than the prior year due to lower demand in its UK businesses
Read more11 Feb 2014 13:31
CORRECT: UK MIDDAY BRIEFING: Stocks Gain Ahead Of Yellen Appearance
(An item published at 1325 GMT mis-spelt the Fed Chair's surname in the title. The correct version follows.) LONDON (Alliance News) - The FTSE 100 is up for a fifth consecutive day Tuesday amid a continuing global stock rally, with the London blue chip index helped by strong performances
Read more11 Feb 2014 13:28
UK MIDDAY BRIEFING: Stocks Gain Ahead Of Yellon Appearance
LONDON (Alliance News) - The FTSE 100 is up for a fifth consecutive day Tuesday amid a continuing global stock rally, with the London blue chip index helped by strong performances from the retailers and miners.
Retail stocks including Sports Direct International,
11 Feb 2014 11:30
UK WINNERS & LOSERS: Kazakhmys Revalued As Tenge Is Devalued
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Tuesday.
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FTSE 100 - WINNERS
Sports Direct International, up 4.1%, and Marks and SpencerRead more
11 Feb 2014 11:03
STOCKS NEWS EUROPE-UK small caps advance, but lag wider market
The FTSE Small Cap index and junior-listed AIM shares climb 0.4 percent and 0.3 percent respectively, underperforming the mid-caps, up 0.8 percent, and the blue chips, which are 0.9 percent firmer. AIM-listed tube manipulation specialist Tricorn Group drops 27 percent to 23 pence after sayi
Read more11 Feb 2014 10:54
Tricorn warns on profit after problems in Energy and Transportation
Shares in Tricorn Group took a hit on Tuesday morning after the pipe and tubing specialist warned of further softening in demand and predicted second half revenue would fall around 15 per cent below the first. As such, pre-tax profit for the full-year is expected to be "materially below" the curren
Read more11 Feb 2014 10:37
Tricorn Group Plummets As Firm Reduces Expectations For Second-Half
LONDON (Alliance News) - Tricorn Group PLC shares dropped to the bottom of the AIM market Tuesday after the firm said revenues for the second-half are expected to come in 15% lower than first-half figures, as demand continues to lighten. In a trading statement covering the financial year to
Read more11 Feb 2014 09:41
Tuesday broker round-up UPDATE
Bellway: Jefferies takes target price from 2085p to 2186p and stays with its buy recommendation. BT Group: Jefferies shifts target price from 435p to 440p and keeps a buy recommendation. Carnival: Jefferies ups target price from 2000p to 2050p, while downgrading to underperform. Deutsche Bank rais
Read more11 Feb 2014 09:36
11 Feb 2014 08:32
UK MORNING BRIEFING: Shares Open Higher But Barclays Down On Results
LONDON (Alliance News) - UK shares have opened higher Tuesday ahead of the testimony later in the day by new US Federal Reserve Chair Janet Yellen.
Barclays has said it is in a position to increase its leverage ratio target, despite a loss in its final quarter. Bar
4 Oct 2013 12:19
STOCKS NEWS EUROPE-UK small caps climb 0.4 pct
UK small caps firm 0.4 percent, outperforming the wider market, with junior-listed AIM shares trading flat, mid-caps off 0.1 percent, and blue chips 0.1 percent higher. Tricorn Group, a manufacturer of pipe and tubing assemblies, drops more than 6 percent after it says it expects pretax pr
Read more