Interims14 Sep 2009 09:32
As expected, the interims show a vast improvement in the fortunes of TXR and every likelyhood of profitability in the second half of the year. This really is a massive turnaround and the only downside is that the balance of the insurance monies weren't confirmed (although they did finally reveal that Zurich paid £3.5 million in April).
This was not disclosed back then and may be an interesting development for the other insurers, as they'll probably have a clearer idea now of where they're settlement needs to be with any luck. It's a frustrating wait because when the balance of the insurance money comes in, I still feel this share will double even from todays mark and it literally could be any day - today, tomorrow, next week, next month, who knows?!! Its a pity there was no mention of TXR's progress on it, but given that its gone legal, I suppose its no surprise. Few sells gone through this morning and it'll dip no doubt, but the outlook here is brighter than its been for some time. I'll be holding for the time being as I think a little more patience will be rewarded here.