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PEG Petards Group Plc

7.75
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Petards Group Plc PEG London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 7.75 08:00:00
Open Price Low Price High Price Close Price Previous Close
7.75 7.75 7.75 7.75
more quote information »
Industry Sector
SUPPORT SERVICES

Petards PEG Dividends History

No dividends issued between 24 Apr 2014 and 24 Apr 2024

Top Dividend Posts

Top Posts
Posted at 19/4/2024 13:22 by smithie6
not sure if your post replies to my post

or what point you are trying to make )& perhaps haven't made very clear)

from post 1801
"Petards has three active subsidiaries: QRO (ANPR), RTS (rail software) and Petards Joyce Loebl (rail systems and defence).

Per Companies House, in 2023 the results were (turnover/pretax/post-tax):
QRO - £4.422m, £588k, £535k
RTS - £611k, £2k, £22k (so it's relatively minor)
PJL - £6.09m, loss (£725k), loss (£329k)
Group, no doubt reflecting intra-group turnover, head office charges and other adjustments - £10.872m, £178k, £524k."

my question was what did people think about the loss making subsidiary & whether one option might be to sell it so that its recent losses would not be a drag on the group, if that loss is an on-going situation.

What is your opinion ?

------

I am new'ish to PEG, (but sitting on a nice profit. :-) ), happy to see any opinions.
Posted at 19/4/2024 09:12 by pldazzle
smithie6, I wonder with respect if you may have got the wrong end of the stick.

I have been following Petards for nearly 15 years.

The main rail subsidiary has always been Petards Joyce Loebl (PJL), which also - albeit as a poor second - handles the defence activities. Meanwhile RTS Solutions, acquired only in 2018, is a smallish subsidiary dealing with "rail asset management, logistics, planning and business workflow applications" (as distinct from installations on actual trains etc) and serving the rail infrastructure industry, whereas PJL's customers are typically train builders such as Alstom, Siemens or Bombardier. While RTS has not performed outstandingly since acquisition, it has kept its head consistently above water, but it's minor in the greater scheme of things.

In the past PJL has had substantial contracts from train builders. A few random examples:




Note that the history of these chunky train contracts goes back many years before the RTS acquisition. For the time being they have dried up (again, I don't think that is so much the case for RTS), but in my view there are good reasons for optimism that this will prove temporary.






To repeat: both the main rail activities, and the defence activities, are within PJL: however, rail is a great deal larger than defence, quite apart from having greater potential.
Posted at 17/4/2024 13:08 by smithie6
Someone keeps hitting the buy button.
Including last 3 trades, 10k shares, then 5k, then 5k.
(As I understand it one is not officially allowed to do that, so the MM might get a bit riled. But I guess the MM(s) can just move it to "no trades" if they want & force orders to be submitted as limited price requested trade orders, & just ignore the buy orders, until some sell trades go thru.

I assume that the buyer is certain that those Alsthom trains/wagons will order the CCTV from PEG and that every wagon will have CCTV. (Pretty std nowadays I think for new train wagons).
Posted at 17/4/2024 12:41 by smithie6
Btw
...the drag on past performance has been the defence sector part of PEG.

What do people think that might happen with that subsidiary in '24 ?

Might it pick up some work from the conflicts in Ukraine or the middle east ?
Or might PEG sell the subsidiary?

(As far as I can see it is doing one offs & support tasks for the UK military but very small quantity. And very difficult to make money from that imo once you deduct office costs, secretaries, accounts, directors, advertising, travel, pensions, etc. And surely virtually impossible for this subsidiary to create a product that could be sold in large numbers to the military since the R&D cost would be too high to afford.
I applaud the subsidiary for the range of skills they have, including TEMPEST, EMC, UHF, VHF, microwave, displays etc etc).

-----

The subsidiary doing automatic number plate recognition (& other similar stuff) is the subsidiary doing well.
Posted at 17/4/2024 11:57 by rivaldo
Perhaps a little buying has been coming in on the back of the overnight news that the UK's largest train factory owned by Alstom (a PEG customer) has been saved with a government order of ten commuter trains...
Posted at 14/2/2024 09:28 by rivaldo
Good (though not particularly material) to see the £300k contract renewal for RTS's software licences, maintenance and support services:



I actually though this news the other day was much more significant - Siemens (a PEG customer) has transferred a load of train building work from Austria to its Goole factory:

"for a busier-than-expected spring opening, creating 2,400 jobs and signaling a resurgence in British manufacturing. The factory will produce 94 energy-efficient metro trains for the Piccadilly Line, modernizing the fleet and easing overcrowding during peak hours"

And:

"Siemens is setting its sights on securing additional contracts for both the London Underground and mainline railways"

I have no idea whether PEG will directly gain work from this. But perhaps it signals that the hiatus in UK train contracts is at last beginning to break. If so, PEG are likely to be one of the beneficiaries:
Posted at 02/2/2024 08:51 by dealit
Does anyone feel that a takeover by a Company within this sector is possible, market cap of PEG must be temping?
Posted at 26/1/2024 09:11 by rivaldo
PEG's m/cap is now £2.1m after the trading update, against a cash pile of essentially £1.5m including the delayed receipt.

The below expectations update reflects the hiatus in train build industry expenditure, bur even so isn't a complete disaster as I assume QRO continues to trade well, resulting in a new WH Ireland forecast of a £0.6m LBT for 2023.

I just wonder what PEG would be worth if the 3 divisions were sold off separately. Surely a multiple of £2.1m?

WH Ireland - presumably after discussions with management - have retained their forecasts for this year of £10.9m revenues, £0.3m PBT and 1.1p EPS, with £2.3m net cash at the end of the year.
Posted at 05/1/2024 10:49 by rivaldo
For the record, Techinvest reviewed PEG's interims as follows:

"Petards Group
4.75p (PEG; AIM)

Results for the six months ended June 30 showed revenue down 20% to £4.4m and an adjusted EBITDA loss of £0.06m compared to a profit of £0.61m in the first-half last time. The post-tax loss was £0.3m (H1 2022: £0.1m). Cash generated from
operating activities was £0.25m and net funds at the period-end were unchanged at £1.7m (2.9p per share).

Against a difficult economic backdrop, we feel this was a reasonably resilient performance from Petards. Management reported that rail and defence markets remained challenging but rail tendering activities were significantly higher in
the period than in recent years. Full-year guidance was pared down as a result of the revenue drop in the first-half.

However, the outlook for the following year looks more promising, with first orders already received for a range of new product launches. Moreover, the order book remains stable at £4.0m, providing a reasonable underpinning for the confidence expressed by management in an improved second-half performance for the current
year. Hold"
Posted at 03/1/2024 18:04 by rivaldo
Yet another new major shareholder - Philip J Milton & Company Plc have notified they now have 4.29%, or almost 2.43m shares:



They're wealth managers from Devon:



The two Jons plus Milton have therefore bought and notified they're holding around 10.5% of PEG in the last month, i.e Charwell's stake and more (though of course the newbies may have held some stock beforehand).

It's indicative of something that the "disclosable interests" section of the Investors page on PEG's web site hasn't been updated since June 2017.....which reflects not only on PEG but also WH Ireland who "should" be on top of these things. You have to laugh.

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