Pressure Technologies Share Discussion Threads

[cockerhoop] 26/4/2016 08:40

Good spot Cerrito

[cerrito] 26/4/2016 08:37

Potentially good news for Chesterfield as the Australians have awarded their 12 sub contract to DCNS with whom Chesterfield has a good relationship rather than the Japanese with whom Chesterfield have no relationship.

[rubberbullets] 25/4/2016 08:55

up on bid 172-5

[rubberbullets] 25/4/2016 08:46

vol picking up

[rubberbullets] 25/4/2016 08:41

BOWLING UP

[cockerhoop] 14/4/2016 07:31

A Greenlane partner in British Columbia

[cerrito] 07/4/2016 23:28

Thanks longshanks for posting this news.
Given the current share price is prompting me to ask if I should buy more I went on to the web to see what other news there is.
There is no news section on the Corporate site; Chesterfields on its web site has quite a good news page but nothing in the last 2 months; almet has a page with nothing this year and Hydraton has no page.
Perhaps there is no news to report.

[cockerhoop] 07/4/2016 22:30

The AGM statement released in February this year contained a comprehensive division by division trading statement.

[coppertrader] 07/4/2016 22:12

Does anyone know when we are expecting a trading update? It was in february last year.

[longshanks] 21/3/2016 17:50

Another Greenlane contract - a second installation for an existing customer:

[norbert colon] 19/3/2016 08:57

Further to my message 1339 from last year (thanks to those who replied) can anyone on this board give me any other comments on the Chairman, Alan Wilson? I note he is also Chair of Modern Water Plc (MWG) and 3 other companies so clearly a very busy man; the question being does he have enough time to devote to each of his chairs?

[cockerhoop] 29/2/2016 17:21

Canadian Contract for Greenlane

[cerrito] 24/2/2016 20:54

nothing on dividend policy,RCTurner2 and to be honest not something I have focused in on...perhaps I should have.

[cerrito] 24/2/2016 20:54

nothing on dividend policy,RCTurner2 and to be honest not something I have focused in on...perhaps I should have.

[ariesr] 24/2/2016 16:19

!YOUTUBEVIDEO:wyNN7g_g6AQ:







!YOUTUBEVIDEO:4ZjsRxrYShE:

[cockerhoop] 24/2/2016 10:43

I don't recall specific discussion on the dividend but house broker forecasts remain at 8.4p for 2016

[rcturner2] 24/2/2016 10:24

Was there any discussion at the AGM about dividend policy?

[cockerhoop] 21/2/2016 20:55

Good effort on the write up Cerrito, quite a few from ADVFN attended by the look of things as I met up with both zoolook and ottrot.

As per normal PRES were really accommodating to PI's with as you said the meeting lasting 3 and a half hours. I was really impressed that it was also attended by the ex-chairman Richard Shacklady, ex FD James Lister, and also ex Non Exec Nigel Luckett. A real family feel!

The exspansion of the offering in Biogas gas is the overiding thing I took away from the meeting. Lots of hard work has gone on sorting Greenlane out (had no account on T/O!!) and now with the 3 types of upgrader supplied I expect it's time to be approaching. Whether that's in 2016 may depend on timimg issues beyond the control of PRES.

[james188] 20/2/2016 18:46

Excellent post, to which I have little to add. I think that the two EP competitors John mentioned were Pascal Engineering (US based) and Maximator (German based).

The other stat that came as a surprise to me was that Stephen McCulloch (Alternative Energy presentation)estimated that Greenlane has approximately 50% of the European market for upgraders. They are "technology agnostic" as to the type of alternative energy solution provided, in sharp contrast to their competitors - e.g. Malmberg, who are a much bigger group and solely focus on a water wash solution. As well as the initial instillation, Greenlane also pick up a lot of ongoing maintenance work. The contracts are typically subject to annual review, so my conclusion is that it is hard to value this element as a certain ongoing revenue stream, although it should be possible to draw sensible conclusions as the business evolves.It will be interesting to see where this division is in another year or so.

[rhomboid] 20/2/2016 18:41

Hi Cerrito thanks for posting, I really appreciate hearing about the AGM, I'm on the sidelines for now but am sure I'll buy back in when the uncertainty over the current year clears.

Thx again

[cerrito] 20/2/2016 17:23

Here is a rather delayed report of what I picked up on a 3 ½ hr AGM; bearing in mind that the formal business went through in max 10/15 minutes we got a lot of information. This included a plant tour which was interesting. Plant seemed tidy and well organized and there seemed to be a good energy among the operatives. At the moment working just one shift-basically putting in a 37.5 hours week Mon/Thursday with Friday reserved for overtime. My main takeaway was the easy relationship between the CEO and the operatives, which for me was v good.
I like the company’s energy (in both senses of the term) and in the 2 AGM’s I have attended I have formed a clear impression that management will not go off piste
A respectable turn out of private shareholders but way down from last year; could have done with more as there were gaps in the questioning. For example and in hindsight no one pressed them on their AGM statement comments that in Cylnders and Alternative Energy dependant on timing of orders and we should have found out at least in which industries these potential orders are in. Incidentally I am going on the basis that 15/16 market expectations are for revenue of £53m odd compared to £55.6m in 14/15 and a pre tax profit of £3m which is optimistic given 14/15 figures of £0.7m. Is that the understanding of you folks. If so it does seem they will need large orders quickly.

We had a presentation on the Oil and Gas market from the Chairman and on the company from the CEO as per the clear slides on the website.
An interesting point on the O & G market was that Iran has been producing 4mboepd since 94 and sanctions or no sanctions that has been entering onto the international market and so one should not make too much of a play on the lifting of sanctions . Also the figure for oil company balance sheet restructuring of $112bn-higher than the BP Marcap. My notes said that fracking rigs have gone down from 1800 to 500 but no mention of Kelly. Many oil industry suppliers in UK in financial problems but no one asked if PRES would be making opportunistic acquisitions. The real message from the Chairman is that the company saw this is a temporary downturn and had absolute confidence in the long term future of the O & G business.
In terms of Precision Machined Components told that maintaining market share and gaining deals because they are able to ramp up quickly and meet deadlines. Maintaining market share and throughout the O & G business while they are loosing orders ot loosing market share. No discernible benefit from the weak £ against the US$. They have been helped in ability to maintain margins because input prices are falling. At the moment 70% of ) & G gas sales are for consumables and 30% capex. Said that 100% of Almet were wear parts; as I understood it 70% of Roota tool parts( do not understand what that means) while Quadscott is focused on capex-which no doubt explains why they have released the earn out provision-see note 30.
In terms of engineering products repeated point made last year that their major competitors are bigger and hence less nimble; emphasized bullet point on slide on substantial organic growth potential; mentioned work on new pump models and also need to do what largest 2 competitors have done( he mentioned names but they passed me by but one of them had Cameron in the name)

In defence given that a vast majority of sales are in submarines they are in a sweet pot given all the expansion in the Far East and repeated what they said last year that they have good relationships with UK/European suppliers and building relationships in the US. Clearly if as and when Trident is rnewed that will be a bonus the extent of which was not quantified. A lot of emphasis on Integrity Management; I did not discover what it except quality over quantity and getting long term maintenance contacts.
We had a big presentation on the Alternative Energy market which was based on the Capital Markets Day one-a very detailed set of slides on the website. Clearly saw their ability to supply membrane, water wash and pressure swing adsorption an important selling point. Very bullish on possibilities in France. As per the slides a discussion of the Widnes facility and they are working on the long delayed Dagenham plant and are about to start on a plant in Doncaster of the same size as Widnes. Discussed potential in China where they will be focusing in on the diary market; an interesting gauge of the importance they are putting in this market is that the CEO has been visiting diary farms in northern China-also see comments on page 33 of the AR which shows importance they place on this division.
The CEO mentioned twice that in cylinders and alternative energy they were very conservative in revenue and profit recognition; no-one picked up on these comments-perhaps for next year. I have since read pages 52/53 of the annual report which cover revenue recognition and have no real comment.
The issue that there had been no impairments in Goodwill(despite WACC going up from 3.1% to 11.6%) and non contractual customer relationships. CEO confirmed they were very comfortable with this and it had been signed off by the auditor. This is important as Goodwill and Intangibles represent 75% of book net worth.
PS and OT
I was reminded of an article I read a couple of years back on the huge differential in the amount of spending on transport infrastructure between London and Manchester and the same comment seems to apply to South Yorkshire. In London- certainly on S West Trains and the Overground-we travel in new aircon carriages. The carriages on the line between Sheffield and Meadowhall are from the 70/80’s. Despite that, these very frequent trains are probably quicker than taking a taxi even accounting for the very easy under 10 minute walk from Meadowhall Station-if you know how to exit the Station..do not go into the shopping centre..ask for the Sainsbury Petrol Station and turn left in the main road and just after the very tall Travelodge-I mention that as it is not on the PRES website.

[rhomboid] 17/2/2016 13:17

I sold this afternoon , someone is quite active on the bid as I got 1.68 for both clips, reading the rns this morning I was struck by the way the ground was being prepared for a potential Q3/4 warning, against that mgt may well have been scarred by last years fall from grace and are simply being more cautious.

I was holding for the long term but can't get my head around the risk reward balance against other stocks so I've duly recycled my PRES monies to top up a much larger holding in RDSB.

I'm sure holders will do well long term , but a little less sure than I am that RDSB holders will prosper long term!

Good luck

[zoolook] 17/2/2016 10:18

Someone admits they are wrong on the internet! What's going on? ;-)