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Bit of a mixed bag. Fox seem to be doing the best they can. Travel and shipping restrictions are a real problem. Can't see the present processed marble production getting us into any meaningful profit on It's own. Block sale are the key/cake here with factory production being more the icing. I suppose It's steady as she goes at the moment. Just hope the 1.5 Mill Loan Note gets sorted - don't want any more 9% interest rates!!

One puzzlement. QC Simon Nesbit (announced in March) not mentioned. Is QC Samuel Wordsworth (announced in May) "instead of" or as "well as"? At a guess - instead of?

3-5 years is a wide margin which is fine by me. The concept at that time may have been to consolidate Elucigene and be a global company and then target more acquisitions. This has happened. Covid 19 has disrupted many things but we seem to have developed a 'swings and roundabout' situation with the clarigene test. I suspect that if the pandemic had not happened we would be better off but this has demonstrated the nimbleness of YGEN.

I am therefore not too concerned about any timescale as I think It's now irrelevant. It's clear to me that we can pretty much weather any storm and the basic fundamentals of the company are very good. I just can't see any major problems that we can't surmount. Onwards and upwards folk.

Hi Adastra, I like the idea of a finals bonanza! You would think there was a good reason to miss the May publication of the accounts and it was not just inefficiency! We've both done a little top-up at 5.33 and a little profit is on the cards - I just have a feeling that change is about to happen - buy now folks while stock lasts!

Hi vern, With the benefit of hindsight Vialogy was always a long shot a Minnow trying to strike a deal with global oil giants - not impossible but difficult as the layers of management mean you can't get close to the decision makers. But I bet like me he would be far happier with the situation we are now in.

I see the race between the Full Year and the Half Year results have been won by the full year - Just!

Hi Adastra, Just done the same at 5.33 - got to be a bargain.

Hi Lutra, I've read the explanation for "Operating Profit" in the accounts and unfortunately that's as clear as mud to me. But just because it's complicated I'm guessing it ain't real money?

There's obviously some part of TPG that makes a profit because Dukinfield was loss making and we occasionally got close to break even. I also noted in the '19 accounts that there seemed to be some focus on admin rationalisation which was about time n my book. Lets hope Adastra's info re the 10th is right.

Hi Dinoken, nobody is saying Marine will be sold but the January RNS said "possible disposal" That wouldn't be announced if the BoD had rejected the idea.
Hi Flotogo, excuse my ignorance but I'm not good at balance sheets. where did the figure of 7 Mill profit come from? Just curious really.

Hi flotogo, yes Marine engineering does have a strong R & D side which may do well in future. TPG has been extremely good at raising revenue, the cynics amongst us might say that making acquisitions automatically raises revenue. but, problematically, in spite of this we just don't make any profits.

However If you look at the Sapienza and lift acquisitions one might see a totally different picture. We acquired them two years sago for a total of 18 Mill EU. Since then they have signed contracts for 31 Mill EU. In addition in August '20 a significant Framework agreement was signed. I reckon that, although we don't know the margins, the profits would go a heck of a long way to repay the purchase costs. This consultancy side was further reinforced by the Osprey acquisition.

As I've said, if Marine was sold with R & D add-ons then the cash generated would put the consultancy side in an extremely strong position and you would think that even TPG could make a profit!

Thordon, can't quite see why your waiting. One way or the other we are in a better financial position now that the loss making Dukinfield has been sold. We might actually be making a profit!! Onwards and upwards folks.

Many thanks mala. Governmental and NHS approval should be a good boost not just for sales but also credibility - onwards and upwards!

There was a 15/20 minute video a few weeks ago which I've lost the link to. The train company was being ever so enthusiastic about it being the first one but not only was TPG not mentioned but I didn't even see our logo! It seems this is still in R & D phase. I think my comments in my 25th of May post are still valid. Marine Engineering seems to be largely an R & D company at present.

As I've said, I'm not knocking R & D but we need more here and now!

Last Junes update was pretty much expected and did not contain any major surprises. Not to sure if there is any need to comment on the SP as the MC is still some 9 times last years revenue which is pretty high. The only info I would like is the time taken to announce a deal and the time taken to integrate into the new websites. In the past it has sometimes taken several months but i think it is shorter now.

We already know that revenue is increasing and profits are imminent. Some companies use the AGM to release news which I thing is a good idea. Our AGM is 2nd June.

Last week Airbus announced that it was increasing production of the A320 family of single-aisle planes from 40 planes a year to 45 by the end of this year and expected to rise over the next 2/3 years to 70 a year. Pre-pandemic it was 60. Our last interim results said that we were in 2nd stage testing for various parts for these planes. I know that other models have been mentioned in various RNS's in the last year or so.

It's not just the new build production that we will serve but also the maintenance/servicing industry. If we should get Airbus approval in July it will be to late for this financial year but should be a major boost for next year. so as I've said before - this time next year Rodney!!

Good comment barnetpeter, I personally have taken out some 11k over and above my original stake and still hold some 30K.

Definitely a high MC at the moment. I have posted previously that I would prefer a year or two to see how this goes. If we are not taken over then I can see a future business that is low cost, with high margins and strong growth and has to pay dividends to get rid of the cash!! Perchance to dream.

Hi Radius - well you called it right! You got your disappointment in before mine! I'm some 10% down and thought that the Results would help to defray that a bit.

Communication is key and as you have said it's a bit of an inconvenience for the BoD to actually communicate. This failure will be remembered as and when I divest from here. However if we restructure then that could change.

Welcome aboard chilting - you may just have picked the right time - the SP has gone sideways for some years now perhaps at last the tide will turn.

Last working day of May tomorrow so we should be put out of our misery at 7.00AM. My view is the the actual results won't be that surprising but with the last trading update reporting robust trading in the last half that continued into January then my focus will be on this years activity. The loss making Dukinfield is out of the equation so there could be a positive spin to the current year. Not expecting much on any possible sale of Marine.

One thing that has surprised me is the raft of small sales over the last couple of days - I think if I had a small sale to make I'd have waited.

Definitely a nailed on record. Obviously a significant built in expansion of revenue already in the
SP. The MC is pretty high but it will be the speed of integration that will now have a major effect on the revenue as we seem to be able to sign new deals on a monthly basis. I just hope we aren't targeted for an acquisition - I'd love to see how this pans out!

The recent contracts seem to be largely about R & D such as the Hydrogen train, Collins Aerospace, Northstar and the latest carbon capture announcement. I'm not saying that this is unimportant and I accept that they may, or may not, be financially lucrative in the future but what of the present? We seem to have little actual volume production flow. The Atmosphere Management contracts are substantial but very spread out.

If you contrast that with the Sapienza and Osprey contracts they are here and now. If we sold Marine but had some sort of earn-out on the R & D work then we should be profitable? I know, I know - TPG profitable!!!

Thanks Kidlington - yes it does seem as if Bicycle is becoming more important hence JM calling them Key. It's steady repeat business that PYC seems to do quite well on. Bread and Butter stuff perhaps but that is what is needed to put the Jam on!

Hi Radius, if you read the January update you'll see it's not late - Well not yet anyway! They've got a whole week!

Hi OT, I'm not to certain what we have to offer directly to a UK ship build program apart from atmosphere control. From what I understand Marine Engineering was not involved in any other big bucks projects?