Tanfield Group is the new company name of Comeleon. As I understand it, Comoleon was getting into trouble so TAN (paerent company?) took over. Since this has happened the share price has dropped by 0.25p each day for the last week or so (on average) and are now around the 3p mark with very little activity.

Does anyone know much about this company or previously held stock in Comeleon? There is virtually no info out there other than on the company website.

cheers

Mike

think worthington nicholls had a name change to manage support ord.

scot I have noticed your many postings on a number [many] coys, and they have left me wondering whether in fact you own any shares at all ... any way I bought shares in Tan yesterday @ 28.75 despite all your many warnings, could that be contra investing? Also I very much look forward to a posting from you recomending something to buy.

tipton

buy nothing.....cash is king now.

everything is doomed.....uk is heading for abyss.

we need new government and good leader 1st before anything else is going to improve

h98+ano
ive been beating this, my same drum, about risk awareness, money management,and averaging down,( buying against the trend) for quite some time.
enough time to have hopefully helped any that listened or heeded.
unless they have deep pockets usually, and most of us dont.
it isnt a question of being bullish or bearish, it doesnt matter, its simply being in control of risk.
' the best thing one can do with good advice is to pass it on,
for it is seldom of any use to oneself '
Oscar Wilde.
si
ok so cynic got this one wrong, so what?
have you never been wrong?
i got pfc wrong, cynic got it right.
and so it goes on, thats the nature of the market.
as long as we get more right righter than wrong wronger then we stay ahead.
but no one gets everything right.
thats why money management and risk management is so important.
please dont tell me i am posting after the event
best regards to you all
jkd

Tanfield's annual report is due out this coming week. This would make uncomfortable readin as it is likely to contain nore detailed disclosures on the company's disappointing cashflow situation.

SELL now at 29p.

hlyeo98 it has already been issued on co website.


Tanfield Group Plc
(the "Company")

Share Price Movement

The Directors of the Company have noted the recent fall in share price following the statement made by Oshkosh Corporation, the parent company of JLG the US manufacturer of Aerial work Platforms, downwardly revising its estimates.

The Company confirms that it posted its annual report and accounts to shareholders on 26th June 2008, a PDF copy of which will be available on the company's web site later today and that it will be releasing a trading statement on 1 July 2008.

Tanfield annual report year 2007 see - http://www.tanfieldgroup.co.uk/annual_reports.asp

hyleo is such a happy bastard reminds me of EK and his mates

pot calling the kettle black if ever i heard it dil.

i can see this going to 20p this week and eventually 10p.

Does EK post these days or u too busy shagging that muppet TW for every penny he costs his followers :-)

One day he'll suss u ..... even with his pea brain.

I still can scotty so whats your point ?

talk on advfn site is that its oversold - could there be an early morning rns ?

Although trading for the first five months of 2008 was relatively strong and in line with management's expectations, a marked slowing in our markets was experienced throughout June. In light of this and the deteriorating wider macro economic outlook, the Board of Directors has adopted a more prudent and conservative approach. The Group has therefore determined that its rapid growth strategy should be realigned. The outlook for the Group as a whole, whilst still one of year-on-year growth, is growth at a significantly lower level than previously forecasted. The revised strategy now focuses on delivering cash conversion of profit and growing at a more moderate rate. This will allow the Group to implement plans to address the anticipated radical changes in the global markets in which we operate, as they happen. Therefore the company will not meet the market's expectations for the year, which were set at a time of much more favourable and positive market conditions.



The dynamics have changed in Tanfield's main markets, most markedly in the Powered Access division, which accounts for 75%-80% of projected revenues, as customers react to overall change in economic outlook. Our distributors and end users customers are experiencing the following;

fall off in demand in their markets

reduction in access to credit

instigation of capital freezes

postponement of replacement plans

We have immediately implemented changes to protect the core businesses including accelerated work in progress and raw material inventory reduction, reduced expansion activity and headcount reductions.

The change in growth strategy will reverse previous working capital absorption. The Board is confident that the cash created by this process is sufficient to allow the business to weather any extended deterioration in market conditions. The net cash position of 11.1m at the half year, however, was less than expected resulting from customer payment delays; increased inventory levels; and late delivery arising from supply chain constraints. The impact of these issues has been offset, in part, by increasing creditor days.

As expected...see post 746

82% a bit harsh.?

Daniel Stewart comment :


Tanfield - SELL

Price: 12.5p Target price: 10p

Code: TAN.L Analyst: Mike Stoddart | 0161 830 1892


Trading update - it's a shocker

Tanfields trading update today will lead to major downgrades.

In addition to the major doubts about the quality of the earnings reported by the group which we raised yesterday, the market now has to cope with falling quantity of earnings.

Key points from the announcement;
a marked slowing in our markets was experienced throughout June.
The outlook for the Group as a whole, whilst still one of year-on-year growth, is growth at a significantly lower level than previously forecasted.
the company will not meet the market's expectations for the year, which were set at a time of much more favourable and positive market conditions.
Electric vehicles Continuing supply chain problems in electric vehicles which will lead to a reduction in forecast volumes

Cash the performance here is significantly worse than we were expecting. When we met the company on 2nd June 2008 the guidance from the FD was that cash at the end of June would be 18m. Now they are saying that it was 11m.

This is a 17m outflow in six months. Clearly, this is a major problem. The company says that it is halting a number of expansion projects and that the reduced sales targets will lead to a reversal of the working capital outflow. We remain unconvinced of this and the fear in the market will be that the company will run out of cash fairly soon.

Valuation we are cutting our forecast from 20m to 16m, EPS of 3p. We expect further downgrades eventually and expect the shares to trade on a very low multiple to reflect the cash worries. SELL.

tan has issued a few over the last year "we know of no reason why the share price has fallen" now we all know why it has fallen, market got it right again.

WOW!!!!!!!!!! Iam so glad i didnt buy in. Definately worth a punt as soon as as they start to turn back up.

TAN is keeping things to itself...how could it deny the problems it was facing? Looks identical to Worthington Nicholls.