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Tricorn warns on profit after problems in Energy and Transportation

Tue, 11th Feb 2014 10:54

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 current market expectations. The group explained that since its interim results were published at the beginning of December, lower customer demand within its Energy division resulted from continued weakness in the mining and, to a lesser extent, power generation sectors.In the Transportation division, the "encouraging" ramp-up in new customer revenues in the second half for the US business was not been sufficient to offset the business lost through the latter part of the first half, which was the result of resourcing decisions made by customers at the time the business went into receivership. The slightly lower second half revenues from the UK Transportation business is expected to be in part compensated for by the growth in product revenues from the China operation, Tricorn said.It wasn't all bad news, however, with the Aerospace division expected to be broadly flat. The share price plunged 25.2% to 23p by 10:52 on Tuesday. NR
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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

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16 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

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11 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

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11 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.

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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

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11 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

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11 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

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11 Feb 2014 09:36

CORRECT: UK MORNING BRIEFING: Shares Open Higher But Barclays Down On Results

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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.

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18 Nov 2013 08:45

Tricorn Sells Redman Pipe Joint Business For Undisclosed Sum

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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

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