I'm surprised that the super little deal announced this week didn't get more coverage. Shows that TPG are just 'below the radar' of most investors - at present. It should merit more interest from researchers as it has just popped above the standard 'radar' floor of £25m MCap. The cash balance still stands at c £8m having paid the £1.25m initial payment for the two businesses this week, and that will bring in £0.5m profits this coming year plus economies of scale and cross-selling. The MoD long-term contracts [combined total c £50m] should be signed off within the next 12 weeks as the government April budgets are set and that should help confirm the upward trend [TPG state that they are the sole negotiator]. I'm surprised that no value is being attributed to the rise in the oil price as TP has good elasticity in the O+G arena. It has excellent repair and maintenance contracts in place to support it's presence but also has the means and flexibility to accomodate more work as the sector recovers. Add in the recent General Electric 'toe in the water' contract plus nuclear capability and it starts to look very good. Add in the IP protected microgenerator gas reduction power trials in the USA and unlimited applications of the submarine atmosphere-control technology and you start to see just how undervalued TPG actually is at a mere £28m MCap. This really does have the capacity to gap-jump and 'surprise' on many levels. Given the list of it's Blue Chip customers and savvy management, it really does look undervalued at this level.

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