Member Info for Dar-

Good morning rivaldo,
I purchased some shares in SCH towards the end of February and I certainly can't complain about the companies performance, the sp is showing that this is a very sound company and a very solid dividend structure is in place, the next dividend payment date is on the 24th May. As you say payments companies are "hot" at the moment and that will be the case for a few years. (I hope).

One question for you - please could you give me the reason (IYO) why the sp fell sharply in January, I have looked at the rns's at the time but could not establish and reason.

ATB
DAR

Hello Knottee,
Whilst this is welcome news, please bear in mind that this is increasing Killick's holding from 5.85% to 6.03%, so only a "small" investment and two it's their client's money.

Totally agree the restaurants are at site with a heavy footfall. Comtior is certainly a more than reasonable investment
ATB

Hi TruroTrader,
No I don't think you are being confrontational, and you are correct the accounts for 2017 are no longer overly relevant, but what I was trying to say is that in the 2017 the financial report was 21 pages long.
My job (before I retired) was a credit manager and I used to analysis financial reports, please believe me when I say that they hold a wealth of information, i really do think TPG should make the full accounts available ASAP.
In short what I feel is missing is -:
1/ Financial report
2/ Auditor's statement
3/ Remuneration report
4/ Plans for acquisitions, this money was raised on promises made and investors should know what is happening to monies raised

Best wishes to all

Hi TT,
I have taken the opportunity of looking at TPG website and the 2017 accounts and these were 52 pages. 21 of those pages were devoted to the financial accounts plus auditors statements plus remuneration report and a host of other aspects of TPG.
The final item on the RNS is the statement "Additional narrative to the results will be published in the Group's Annual Report and Accounts that will be available in due course on the Company website at:"
Therefore the company have acknowledged that there are more details to come and the RNS is not complete.
Like you I don't overly care for the pretty pictures and the glossy paper pages for they only seek to impress the gullible.

Hi TT, Yes I should have said, but I would still like to read the full accounts (not selected highlights), and I feel sufficient time has elapsed since the RNS's on the 2nd April and the bland statement "in due course" for TP Group to publish the audited accounts on their website.
TP Group should (IMO) keep their investors fully informed and publish accounts ASAP after a RNS that contains no details.
That is the point I was trying to make

Hi all,
On the 2nd April TP Group PLC declared their Final Results for the year ending 31 December 2018, at the end on the report TPG said these would be available on the company website "in due course".
7 days later I am still waiting. I would like to read the fine details. Many questions have not yet to been answered in particular - acquisitions and dividends. These questions must be answered or I (and others) investors will start having negative thoughts.
Max, Able and TruroTrader could I have your views?
ATB
DAR

Hi Dandee,
I have looked at the interim accounts and I agree with your comments and the market cap: is £6.61 million and the group debt was £6.88 million. However that was £300k less than previous years. The group had available bank
facilities of £1.9 million.
The amount I have invested is in accordance with my personal risk level.
ATB

I meant to add that on 26th March Coral released the following statement:-
"In the six months to 31 October 2018, the Company reported a profit before tax of £582K. This was followed by a loss in the four months to 28 February 2019 and, as a result, the Board therefore now expects the Group's results for the year ending 30 April 2019 to be materially below both Management and Market Expectations".
Mick Wood stated that the final accounts will reflect a sound and solid company with great potential.
Of course Mick Wood could not provide any details (I would not expect him too)

I was at the UK Investor show on the 30th March and I spoke to Mick Wood and following my discussion, I decided to invest in Coral Products, to date I remain comfortable with my investment. I don't consider the lack of further investment by Directors overly relevant.
I consider the sp could recover to previous losses
ATB
DAR-

Hello TT,
We both agree that the money raised, should be spent at intended (acquisitions). If spend (and spent well), then you are correct the sp will go north.
As an investor, we both know if we hold too much cash in our own personal portfolio, then we will see no growth, it's a bit like have a portfolio of say £1 million but sitting as cash in a post office account paying .03% I am doing well as my portfolio has risen by £300. On £1 million that would be a disgrace.
Cash should be working and therefore TPG must invest.
BTW I assume "cheque in post" re: my dividend

Good morning TR Smyth,
I have just seen your postings, however last week I telephoned the CFO of Comtoirand asked when the accounts would be filed --- the answer was 9th April, so a five day cycle.
Here's hoping
DAR-

Hi TruroTrader,

I cannot disagree with your observation "The £22.4 Mill cash on the balance sheet has gone up by half a mill since last year. If it isn't 'spare' capital or cash reserves what is it then?"

My thinking is the BoD has earmarked the capital for a project or a series of projects (hopefully acquisitions), but not dividends.

Having cash reserves, "could" make TPG a takeover target. And that is just a guess...................

ATB
DAR-

Hi TruroTrader,
I decided to get a on-line the legal view regarding payment of dividends and the situation is as follows:-
"A dividend is a payment a company can make to shareholders if it has made a profit. ... Your company must not pay out more in dividends than its available profits from current and previous financial years. You must usually pay dividends to all shareholders."

Whilst I know that many companies pay dividends and have not made a profit but these companies have sufficient capital from previous years.

TPG do not have the 'spare' capital (cash reserves) considering previous years.

Hello Oldbadger,
Apologies accepted. I can relate to your patient on this investment, I to have invested here for two years, including "topping up" and nothing to show in growth of sp. I probably will hold for two more years.
Brexit 'might' be resolved and many companies might move forward.
Regards
DAR-

Hi TruroTrader,
Being cynical within the RNS's of the 16th August 2016 is the following statement " Company's ability to pay dividends, should circumstances in the future make it desirable to do so" gives TPG a balance rational reason for not paying a dividend "at that time".
From my view dividends would be from profits made. I was not actually expecting a dividend this year. I feel that i dividend would be considered in 2020.
There have been a few occasions (IMO) where the BoD had made misleading statements. That is not to say TPG is not a good company.
ATB
DAR

Good morning all,
From my point of view the accounts were ,what I expected and the group is getting stronger and the days of Corac are fully behind us, there is many pluses to the accounts.
I didn't expect a maiden dividend, until previous losses have been cleared.
Of course if Truro Trader wants to sent me a personal cheque that would be OK............... LOL
But the cash balance puts TPG in a very good position
DAR

Hello Oldbadger,
Really strange comment to call a company a dog, without substance.
Even more so considering your posting on the 21st August 2018
"Though not the most patient of pi's I'm determined to stay the course with tpg.
Specialised engineering is not a get rich quick business, " i worked in it all my life " so l'm buckling down for this one."
If you truly believe TPG are a "dog" then sell...........
If you truly believe TPG is not a "get rich quick business" and has potential then hold.....

You can't have it both ways

Most people on this bb accept the TPG has great potential and are in this for the long haul.
Accounts are due to be filed on the 2nd April, so your current view is not required and is in fact damaging.

Hi MaxM....,
As shareholders we saw your note and the observation "If the private investors come to believe that the company is not interested in pursuing aims and objectives in line with declared ends, then a diminishing support by members can be expected" Of course as PI's will agree with that statement.

This comment can only be addressed by the BoD within the final accounts or subsequent RNS's.

ATB
DAR

Hi TruroTrader,

Whilst it does seem 5 to 7 years since the days of Corac, the name change was actually on the 15th July 2015 (from TPG own website), but I do acknowledge that TPG have have developed in a myriad of ways and the BoD must be given tremendous credit.

"I maintain that this financial year will see us transform from a loss making company to a profitable one with the ability to pay a Dividend to boot" Like you I hope the financial year will see a profit, in my view a dividend might be 12 months away, but we will wait and see.

But, yes, TPG have transformed but not in my view the finished article.

I did not reply yesterday pm, for despite TPG accounts on the 2nd April or BREXIT (whatever date), my potatoes still need planting.

So will I get potatoes before TPG show a profit ? Big question of the day ...

ATB
DAR