| 15:51 27/01/2012 | hi |
| just got to turbotec on my watch list,this year. have i missed anything? By indibay |
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| 10:55 18/01/2011 | Re: Where can I trade this |
| Latest update - turns out you can't trade this at all on III. I spoke to them on the phone. Also, you can't get it on Selftrade or any of the other discount brokers. The reason seems to be that it is not CREST traded. Because I am so keen on this, I opened a certificated account with Barclays Stockbrokers and bought in at 29p, paying £25 commission. It's worth mentioning this is when the spread was quoted online at 28p-30p, so getting in at 29p was a surprisingly good deal from Barclays. Maybe there is something in their 'Barclays BestPrice' guff after all. By rossjamesparker |
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| 23:37 05/01/2011 | Re: Where can I trade this |
| To answer my own question, you can trade this through III.co.uk - but it has to be through a standard investment account, not through an ISA or SIPP. By rossjamesparker |
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| 14:37 05/01/2011 | Re: Where can I trade this |
| I would also be interested to know where to trade this, having come to a similar conclusion. By rossjamesparker |
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| 7:12 06/12/2010 | rns |
| DJ Turbotec Products Half Yearly Report TIDMTRBO RNS Number : 3815X Turbotec Products PLC 06 December 2010 ? +--------------------------------------+------------------------------+ | Press Release | 6 December 2010 | +--------------------------------------+------------------------------+ Turbotec Products Plc ("Turbotec" or "the Company") Half Yearly Report Turbotec Products Plc (TRBO.L), the designer and manufacturer of high performance, high quality heat exchangers and Tru-Twist heat transfer tubing, today announces its interim results for the six months ended 30 September 2010. Summary +--+------------------------------------------------------------+ | · | Revenue of $12.2 million (2009: $9.7 million) | +--+------------------------------------------------------------+ | · | Gross margin of 25.5% (2009: 29.1%) | +--+------------------------------------------------------------+ | · | Operating profit of $1.2 million, including net litigation | | | proceeds of $0.3 million (2009: $0.9 million, including | | | litigation expenses of $0.2 million) | +--+------------------------------------------------------------+ | · | Increase in net assets by 11.8% to $11.4 million (2009: | | | $10.2 million) | +--+------------------------------------------------------------+ | · | Purchase of new Hickory manufacturing facility in North | | | Carolina completed; relocation of operations underway | +--+------------------------------------------------------------+ Overview First half sales of $12.2 million were above the $9.7 million achieved in the comparable period last year with shipments to major market segments at increased levels and unit volumes up by approximately 23% overall. The Company generated profit before tax of $1.2 million for the first half, (FY2010: $0.9 million) which includes the interim payment on account of costs of approximately $0.5 million in relation to the Company's successful defence of the litigation brought against it by its major shareholder, Thermodynetics Inc. Associated legal costs of approximately $0.2 million were charged to operations during the period. In the United States, the continuing sluggish economy coupled with tight credit markets has prolonged the weak housing market for both new construction and resale properties. Other markets served by the Company have been similarly impacted by the economy. In an attempt to counterbalance these factors, the federal government instituted a home buyer credit and a 30% tax credit incentive towards the installation of geothermal heat pump systems in calendar year 2009, helping to spur demand for water source heat pump products during the current period. The demand for swimming pool heat pump applications continues to be depressed and with no outside stimulus package foreseen, shipments to this market are expected to remain at reduced levels through the foreseeable future. The board has factored into its expectations for the balance of the fiscal year a moderation of shipments as Canadian tax incentives for geothermal heat pumps expire and fears of a double-dip recession emerge. The Company has also been experiencing increased competition in certain of its markets and while taking action to protect its position, recent inroads made by domestic and overseas manufacturers into the company's core business markets have become more frequent. In April 2010 the Company acquired a new facility in Hickory, North Carolina, and is currently upgrading the building to accommodate its manufacturing requirements. Operations at the nearby rental facility have been moved into the new building with production machinery and equipment from Connecticut to be transferred to Hickory over the coming months. Additions to senior staff in selling and engineer By carlsmillie |
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| 18:09 16/09/2010 | Where can I trade this |
| Cheap as chips this one, strip out legal fees and its on 6x depressed earnings. It appears that iii don't offer the ability to trade in this stock, is there a UK brokerage that anyone can recommend? Self trade do, but I don't want to pay £35/yr for a single holding... Cheers By markonamission |
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| 11:07 09/08/2010 | Speculative BUY by GCI |
| By Ben Jaglom After halved annual profits of $1.2m (£0.8m), US pipe-maker Turbotec Products is hoping for an upturn in the American housing market. The AIM-quoted company saw turnover slide 27% to $19.8m in the year to March, when managing director Sunil Raina says Turbotec faced ‘a tough market, a tough economy and a depressed housing market’. Turbotec, which makes pipes for the refrigeration, swimming pool and water heating industries with a patented technique for twisting metal tubes to make heat transfer more effectively, has begun the process of relocating its manufacturing operations from Connecticut to Hickory, North Carolina, by buying a $5m (£3.3m) 100,000 sq ft facility there. Raina argues, ‘Energy costs in North Carolina are half what we would have to pay in Connecticut.’ Since its year-end, the company, whose products include Pool-Safe chlorine-resistant titanium tubing for swimming pools and Groove-Rite stainless steel tubing for boilers, has seen off a legal challenge from its previous largest shareholder, Thermodynetics. Turbotec has received a £350,000 advance payment of a final award that has yet to be determined and Thermodynetics has cut its 50%-plus stake to 29.77% by selling shares to colourful headhunter Adrian Ezra and entrepreneurial broker Joseph DeSena. Turbotec has $1.5m in cash and currently owes $2.2m in mortgage payments on the Hickory purchase. The company is seeking to develop its cash-generative manufacturing operations and house broker Evolution Securities sees pre-tax profits edging up to $1.4m this year, with a recovery to $3.2m pre-tax on the cards for 2011-12. Floated at 85p four years ago, Turbotec shares now trade at 33.5p. Risks and imponderables clearly remain, but strong-nerved investors might consider a punt. http://www.growthcompany.co.uk/recommendations/1266533/turbotec-turning-up-the-heat.thtml By petrit |
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| 18:28 23/07/2010 | Re: Hmm. |
| My opinion is: I don't like it. These guys sound like trouble. I'm gone until their little game is over. All the time they're fighting, I feel they're not concentating on making money. My guess is that their little game will fail. By Sage Counsel |
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| 14:20 23/07/2010 | Re: Hmm. |
| asset strippers moving in now legal problem is over? any opinion welcome By indibay |
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| 16:16 18/07/2010 | Hmm. |
| Flaming Ferrari plots against Turbotec board Wed, 14th Jul 2010 11:43 A former Harvard squash champion and "Flaming Ferrari" banker has teamed up with an American entrepreneur to instigate a boardroom reshuffle at Turbotec Products. Adrian Ezra and Joseph DeSena, who each bought 1.7m shares, or 13.27% of the company, a couple of months ago, yesterday requisitioned a general meeting to get rid of some existing directors and implant themselves on the board. The pair acquired their stakes at the end of April from Thermodynetics, the holding company recently defeated by Turbotec in a long-running legal dispute over dividend payments. It still owns 29.77% of the business. Bombay-born Ezra has had a colourful career. He was most famously one of the Credit Suisse First Boston traders sacked by the bank and struck off by the FSA for their part in a share manipulation scandal in the late 90s. A trio including Ezra and Lord Jeffrey Archer's son James, dubbed the "Flaming Ferraris" after their favourite cocktail, were all found to have breached the "high standards of integrity and fair dealing" of the City regulator. Archer was found guilty of trying to manipulate the share price of Stockholm-listed timber group Stora, while his bosses, Ezra and David Crisanti, admitted covering up his actions. DeSena, meanwhile, is an entrepreneur and founder of New York institutional agency brokerage Burlington Capital Markets. He's also a fan of extreme sports, creating a hardcore fitness test for endurance athletes known as the Death Race. Quite what these two want with a £4m London-listed US-based heat exchanger tubing and components manufacturer is unclear. Tuesday's announcement was issued on behalf of Execuzen, a financial markets recruitment business set up by Ezra in 2000, shortly after he left CSFB. It wants to sack finance boss Robert Lieberman and two non-executive directors, engineer Anthony Mirabella and IT expert Robert Lowe, making way for Ezra, DeSena and a third man, three-time Super Bowl winner with the San Francisco 49ers, Harris Barton. The former offensive lineman, who took the big prize in 1989, 1990 and 1995, is also managing director of investment management at Swiss firm Capital Dynamics, an expert in company buyouts and special situations. By Sage Counsel |
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| 20:43 13/05/2010 | Re: We Won! |
| £350,000 to begin with, to be paid in the next fortnight. There'll be extra buntz on top of that later to make up for the insult. Hope they don't blow it all on the staff outing. By Sage Counsel |
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| 12:36 13/05/2010 | Re: We Won! |
| Great news, with TRBO gaining an extra £350k. Nothing to stop this one from flying now. GL By Venture Traveller |
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| 18:21 10/05/2010 | We Won! |
| The lawyers can have our money, but Thermodynetics can't. Bet they're fuming. Enemy for life, there. Wonder who they'll sell their other half to. Warren Buffet hopefully. By Sage Counsel |
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| 16:16 30/04/2010 | Re: Thermodynamics sells off stake |
| Thermodynetics, I meant to say - and they're only selling half. By Sage Counsel |
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| 16:12 30/04/2010 | Thermodynamics sells off stake |
| Here's the story. Does this mean they lost the case? Hope so. http://boston.citybizlist.com/YourCitybizNews/detail.aspx?id=76180 By Sage Counsel |
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