RE: Hydrogen, Artificial Intelligence, Specialist30 Dec 2020 16:48
The big difference this time is the sensible divestment of the heavy engineering division. It was increasingly obvious that carrying £3m annual losses on £6.6m t/o was totally at odds with the rest of the group. Margins were being screwed as oil and gas contracts shrank across the sector; best to cut the loss and divest. TP still has it's precision engineering capabilities in the expanding blue-chip and govt led marine division. With exposure to military and civilian software and hardware, Artificial Intelligence, hydrogen and oxygen production and application, robotics and a host of other allied skills ; this rerate is different. TP has streamlined it's operations into 3 divisions, each with specific targets and capabilities. Applications can cross all three when required giving a compelling reason to choose TP.
It has been a long haul I agree, but the CEO now presides over a company that has achieved critical mass. Come the New Year, it should be a major beneficiary of renewed budgets across the board.