News blog


  • BY: Andrew Hore |
  • POSTED: 10/12/2019 |

House broker Shore Capital has slashed its pre-tax profit forecast for engineer Tricorn Group by two-thirds to £420,000. 

Shore had not updated its forecasts since the profit warning in October and following the interims it has updated them for the next three years.
Demand slumped in the UK during the second quarter. There is also margin pressure in the US due to trade tariffs.

Full year revenues are set to fall from £22.8m to £20m with the decline coming in the UK. Revenues will recover slowly but are not expected to reach the former level in the next three years. Pre-tax profit is set to recover to £714,000 in 2021-22, but that is still well below the £1.04m made last year.

Looking on the bright side, the operational gearing means that any more significant recovery in revenues will have a significant effect on profit.

At 10.25p, Tricorn is trading on six times prospective 2021-22 earnings.

© 2020 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Quoted Micro 30 March 2020

Continue reading... | 29/03/2020

Aeorema Communications

Aeorema Communications is being hit be the postponement of events. 

Continue reading... | 29/03/2020

Walcom Group Ltd

Walcom Group is short of cash and the chief executive has been unable to provide the funds he intended to lend to the company. 

Continue reading... | 29/03/2020

Pebble Beach Systems

Broadcast software provider Pebble Beach Systems has delayed its 2019 figures due to COVID-19. 

Continue reading... | 29/03/2020

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds