Bateman Litwin Share Discussion Threads

[mirshahik] 22/2/2008 16:46

Nice tree shake! Almost doubled my position.

[mirshahik] 22/2/2008 11:44

I bought 2 lots of £5000 online, but now you can't for same amount

[thelongandtheshortandthetall] 22/2/2008 10:48

tree shake!!!

[mirshahik] 21/2/2008 10:56

Level 2 looks good but so far the rise is on relatively small volume traded.

[mirshahik] 20/2/2008 12:31

For once level 2 looks quite promising.

Agreed Ramp. Would be great if we hold above £2 today. Very tempted to buy more.

[rampmeister] 20/2/2008 12:04

Nice rise this morning but have noticed trend to fall back later in the day. Let's hope we hold on to gains achieved so far.
Nice article affc21 - makes me feel a bit happier about Delta acquisition.

RM

[thelongandtheshortandthetall] 18/2/2008 14:13

affc21

thanks for that.

Mirshahik

yeah why not.

[mirshahik] 18/2/2008 09:53

Close above £2 today?

[affc21] 17/2/2008 15:33

Bateman Litwin,
Enviable record for widely diversified activities (from the FT - dated 16.02.08)

[mirshahik] 14/2/2008 15:51

Hard to tell if they are buys or sell. Interesting that the price has hardly changed all day.

[thelongandtheshortandthetall] 14/2/2008 15:24

does anyone know anything about the 3 huge 500,000 trades that have gone through today.

thanks in advance.

[thelongandtheshortandthetall] 07/2/2008 09:12

up uperty up up

[mirshahik] 06/2/2008 16:42

Hitting £2 resistance. I wonder if it will break through. We might have to wait till results for that to happen.

[azalea] 06/2/2008 10:17

looking good, well done holders.

[rampmeister] 06/2/2008 09:38

Strong start again this morning - momentum all upwards at the moment.

RM

[mirshahik] 05/2/2008 16:23

Nice rise in a down market. More to come?

[affc21] 05/2/2008 11:23

Sorry wrong thread.

My apologies.

[stegrego] 05/2/2008 08:13

New float today in O&G services may interest a few - Kentz - Ticker KENZ

[masurenguy] 04/2/2008 18:19

Intraday price movement remains volatile on comparatively small volumes !

[masurenguy] 03/2/2008 15:30

I think that it was a mistake in retrospect but one that is small enough for them to overcome without any long term negative impact on the future prospects for the business as a whole.

[mirshahik] 03/2/2008 15:21

Thanks for the link Masurenguy. If ethanol is on it's way out then makes you wonder why they bought Delta T?

[mirshahik] 03/2/2008 14:37

Any views on future of Delta T? I initially thought that ethanol production is becoming out of favour but after some research today it looks to me like it is still growing and there will be demand in the US for new ethanolplants in the next few years. So once the litigation is over and settled then Delta T would become a profitable part of the business. With this in mind and considering the other parts of the business doing great then share price rise back to £ 3 or more is possible.
Also, they are suing the previous owners of Delta 10for the full amount. What if they succeed? WHat if they don't? Any views on this?

[rampmeister] 03/2/2008 11:16

Azalea - agree it's sensible to bank a profit when you see one in the current climate. Only problem is that I bought around 250p before Delta contract loss(and again at 174p)so need to exit around 220p to break even.

They are going to report significantly above city forecasts so I will probably wait for results in March maybe longer. After all whilst first half will see a very good set of numbers 2nd half should be better judging by pipeline and previous historic results.

One area where they can really surprise on the upside will be scope for significant margin improvement on higher turnover now that extraordinary costs incurred from IPO etc.,have worked through. I seem to remember 2005/6 margin was around around 20-25% higner than 2006/7.

Edit 10/2/08 - got round to checking margins and 05/6 margin in fact only 11% better than 06/07

RM

[stegrego] 01/2/2008 22:11

Moneyweek

The one thing the City hates more than bad news is uncertainty,
especially in the current climate of fear. Stocks exposed to any
sort of risks are being indiscriminately sold-off as fund managers
batten down the hatches.That means there are now several
companies trading on attractive valuations, which seem to offer
good value for money for more adventurous investors.
Take Bateman Litwin. It is a specialist engineer based in the
Netherlands serving the oil, gas, power, chemical and renewable
energy industries. Bateman basically does two things. It provides
comprehensive engineering, procurement and construction
services; and it develops its own proprietary technologies, such
as its patented solvent extraction process.
Last week, despite
concerns over the
health of the global
economy, Bateman
posted a bullish
pre-close trading
statement saying
that underlying
first-half earnings
would "significantly
exceed City
forecasts", with revenues "over twice that of the comparable
period". Moreover, second-half trading was said to be in line with
expectations, with the order book up to $1.25bn from $737m only
12 months ago. Growth is being driven by the construction of
new energy facilities as oil prices push towards $100 a barrel. For
instance, the firm recently won contracts for a $120m oil storage
site in Morocco, and the design of two ethanol plants in Italy and
Hungary. Joint house-broker Oriel is forecasting turnover and
underlying EPS of $907m and 18p respectively this year, rising to
$1.04bn and 22.3p in 2008/2009.That puts the shares on p/e ratios
of 8.4 and 6.8, which looks far too cheap for a company with such
a healthy order book.
So what's behind the share price's demise from 328p in July to
just below the original 180p level at which Bateman floated on
Aim in May 2006? Much of the sell-off has been due to fears over
its civil action in the US against the previous owners of Delta-T: a
business it acquired in August. Under the terms of the deal,
Bateman paid $45m plus 11.8 million shares – but has since
discovered that the "financial condition of Delta-T" was
"materially different" from that represented by the owners.
Hence substantial damages are being sought.The next risk
relates to Bateman's exposure to Kazakhstan, and especially its
$530m of fixed-price contracts to develop the Kashagan field –
which although now 80% complete, still represents around $110m
of the orderbook. Eni Spa, the field's operator, has been criticised
for delays and cost over-runs by the local government, and as a
result has been forced to hand over more control to the state.
The danger for Bateman is that greater intervention by
Kazakhstani officials could affect its future growth in the country.
Finally, as an international contractor, it is also exposed to the
usual risks of foreign currency, geopolitical risk and the
management of large turn-key projects. But with its markets
buoyant, the City's mark-down looks over-done. Interim results
are due out on 26 March.
Recommendation: SPECULATIVE BUY at 179p (market cap £201m)