Hallin Marine Subsea Share Discussion Threads

[rivaldo] 09/12/2009 19:03

Good to see a little director buying today (almost 6k shares).

[clancrackan] 08/12/2009 14:10

Getting more difficult to buy Hallin stock each day that passes.
Its all on the bid (15000 at the moment) and nothing immediately on the offer.

[sailing john] 27/11/2009 17:10

The big news we are waiting for is the launch and comissioning of the Windermere in Q2 and a nice juicy contract to keep her busy for a couple of years. West division gearing up for expansion so the signs are good at the moment.

SJ

[clancrackan] 27/11/2009 16:18

Interesting that the mms are now usually heavy on the bid and looking for stock,whilst thin on the offer.
Have to tickle the mms with care to pick up the best priced stock.

The final quarter is the "in between doldrum season" for news, this should change in the new year imo.

[edmundshaw] 27/11/2009 12:21

A current paper loss. Unless your timing is perfect, that is always going to happen sometimes.

What you bought the shares at, though, is now irrelevant. Sunk cost and all that. Worrying about that is one of the most common areas where investor psychology intrudes on rational judgement. Are those shares cheap now? Yes - even cheaper than they were before. Which makes the hold a better prospect than the original buy, assuming no changes in prospects.

To me, prospects look fairly similar to what they were 6 months or so back, so I am happy sit and wait. At least rationally even if not emotionally! :)

[roundup] 27/11/2009 12:12

Edshaw, nothing would please me more than for this company to live up to your expectations. As you say, those 5 items are indeed true; however I bought in May 09, today I am sitting on a £1200 plus loss--not exactly the investment I had envisaged. My point is I could have done a lot better had I sold up whenever they issued the profits warning and invested elsewhere.

[crawford] 27/11/2009 10:48

The chart is very interesting here.

As I said previously, we've been in an uptrend since early July.

But looking at the long term chart, going back to about August 08, we seem to be in a triangle formation. This will break one way or the other in the next couple of months, I think the fundamentals to me should mean upwards.

It would be interesting to get a chartists perspective here.

[edmundshaw] 27/11/2009 10:44

roundup, that comment says more about your investment style than the company IMO. It implies you are a momentum investor. As a value+growth investor, I like a cheap price to buy in a company on

1. a very low single digit PE ratio
2. a good, robust growth story (good prospects, sector)
3. Good management record
4. Good balance sheet and cash generation
5. A reasonable dividend where possible

That is, in general asking quite a lot. HMS fits perfectly, though, IMO.

[crawford] 27/11/2009 10:42

Still in the uptrend; big bounce from here.

[deadly] 27/11/2009 10:27

What profit warning? The last trading statement has been superseded by the interims which were healthy, and contract wins.
I bought more today at 114.

[roundup] 27/11/2009 09:47

Whenever a company issues a profits warning the lesson here is make for the exit.
This company is makeing little headway as far as share price is concerned.

[edmundshaw] 27/11/2009 07:42

Aother tidbit, from VP's oil services unit (VP interims were today).

Airpac Bukom
Airpac Bukom advanced both revenues and profits within the period
despite the volatility in the oil price which led to deferment of
some well test and maintenance projects. Airpac Bukom has continued
to bid successfully for contracts around the world and has recently
secured the contract for the supply of compression equipment to the
major Pluto Liquified Natural Gas (LNG) contract in Australia. The
recent recovery in the oil price has created a more positive
background for the oil and gas exploration sector, which should
continue to be a supportive market over the medium to long-term.

[peterbill] 26/11/2009 14:17

I think in general the subsea sector is picking up ... Helix have a new well intervention vessel (Well Enhancer currently on a Shell contract in the North sea) with sat dive capabilities, vessel working but dive system not yet commissioned, but they do have ongonig work for the vessel. Seawell is the other Helix vessel, (also well intervention), rumors of it working in Libia next year.

Of the other big subsea contractors Technip/Subsea 7/Acergy/Saipem ... Technip and Saipem have laid less people off than SS7 and Acergy ... and are still holding onto key personnel for next year, etc. Technip have a couple of new builds working. Saipem were talking of a new build to replace the aging Bar Protector, not sure when this will be built.

Price of oil will have to remain at this level ... $80ish ... for companies to plan.

[clancrackan] 19/11/2009 11:00

SJ
Based in Aberdeen for West Division including the Middle East/Africa, ummm
yes very positive

[sailing john] 19/11/2009 10:22

A piece from the local rag popped up in my Google Alerts. The move is not new news but nice to see recruitment of 20+ - very positive. Lets hope they have a nice juicy contract lined up for next summer.

[greek islander] 18/11/2009 23:35

This really is a bit of a sleeper.
Riv thanks for the above. On another thread you and I discussed having a mixed portfolio to include a range of holdings which included some longer term. This is for me one of the latter and I see a continued improvement in the share price back to previous levels and then beyond. Plan to hang on to this until the worldwide recession is well behind us. Not sure we can expect much beyond 170p this next 12 months but I'd be perfectly happy with that, notwithstanding the comments above.
I plan to hold to 400p and beyond.

[rivaldo] 12/11/2009 08:21

Nice little recovery. The latest forecasts are here FYI - if HMS merely achieve forecasts they'll be on a current year P/E of just 5 in a couple of months' time:

Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
FinnCap
03-11-09 None 11.33 20.30 2.00 13.59 24.40 2.00
Evolution Securities Ltd
02-11-09 BUY 11.33 17.23 1.99 12.90 24.34 1.99
Edison Investment Research
20-10-09 None 8.90 21.88 1.83 11.56 23.96 1.83
Brewin Dolphin Investment Banking
08-09-09 BUY 11.60 27.54 2.00 15.63 30.62 2.00

[koolio] 10/11/2009 16:40

When divers go up this fast they get the "Bends"

[evaluate] 10/11/2009 14:03

Finally.

Crazy valuation for such a good company.

Let's hope this is just the start.

[crawford] 10/11/2009 13:55

You can't keep a good share down.

[topvest] 09/11/2009 20:55

It's just for the manufacuring division, so not a big deal albeit any contract win is positive.

I've been looking at this one. Looks a good company, but this year looks tough going. Reading the interims it's a bit of a veiled profit warning for H2 i.e. final result depends on how busy they are in Q4 and whether they can do an asset sale. They were riding into 2009 in a very good position and so the bottom line is that things are pretty bloody tough.

That said, I think the business has good prospects, in a good sector and is priced below book value on a silly P/E. I guess that reflects a potential overhang on the Gresham shares and high operational gearing in a difficult sector.

When researching this company its interesting to see how much of a gain Gresham House has made - they paid 1p a share. Shows how well this company has done from the early days.

Interested to hear views on this thread.

[evaluate] 09/11/2009 19:28

Not sure.

The release doesn't mention any numbers.

Any idea how big the deal is likely to be?

[masurenguy] 09/11/2009 17:59

Why no RNS ?

5th November 2009
HALLIN WINS LAMNALCO DIVING SYSTEM ORDER

[sivadnoj] 06/11/2009 10:44

Interesting to see from the half year results presentation that they are beginning to generate some revenues from renewable energy projects.

[philo124] 05/11/2009 17:17

Yeah, i relooked at balance sheet and accounts today just to double check.
Looks fine