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Petards Share Discussion Threads
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|Looks pretty solid with more to come soon by the sounds of it|
|Excellent AGM statement:
- increased £21m order book
- international expansion via the new Stadler customer and contract
- QRO acquisition integrated well
- encouraging to see the defence business at last getting potential orders from NATO and non-MOD customers
Above all, there's a very positive outlook:
""The strength of the order book gives the Board confidence of a good outcome for the year"|
|Looking forward to the AGM trading statement tomorrow. It should be extremely confident given the comments in the outlook statement in the prelims:
"Closing 2016 with an order book of £20 million that was up 23% on the previous year, the Group has good visibility of earnings for 2017. £12 million of that order book is scheduled for delivery in 2017 and its composition is a demonstration of the progress made by the Group in its move from reliance upon orders that are one-off in their nature to those arising from the its products being specified on new build projects."|
I concur with others who have said that it is a well run business with good prospects. But its only an £11 million cap. business. Hence the possibility that at some stage it will be a cheap'ish take-over target if it doesn't grow quickly enough.|
|For better or worse, I have dipped my toe back in at 32.3p :)|
|Ah...thanks for that.|
the oak tree
|The Oak Tree,
A very simple explanation.
When Raschid Abdullah exercised some of his Loan Notes it increased the shares in issue, and therefore the holding of El-Khereifi fell below 8%.|
|Anyone any views on that holding announcement? I often find them difficult to read. For example why is the below amount the same as the after amount! ? Being 2,871,756 shares which is exactly 8% . No small amount. Not sure if I have the right company but a google search on El-Khereifi brings up this below. Note our holding company has "financial company will" at the end. Small beer for the Saudis I would say if it was only an investment so perhaps it's a strategic stake? And if it was that then you'd expect a stake a bit more than 8% for them. Not control mind you , but something into the 20 or 30 % range maybe. From their website: The Elkhereiji Group is a group of companies based in Dammam, the Eastern Province of Saudi Arabia. The Elkhereiji Group began its journey during the early 1960's when its founder Sheikh Abdul Karim Abdulaziz Elkhereiji organized and launched his own business, Elkhereiji Trading and Electronics.Currently, The Elkhereiji Group has become one of the top business firms operating in the Eastern Province. The Elkhereiji Group has diverse interest in trading, real estate, finance, industries, insurance and banking and has also made substantial investments in numerous economic arenas, including cement production, paper manufacturing, the chemical industry, food processing, and petrochemicals, among others.The Elkhereiji Group consists of a number of subsidiaries including;Elkhereiji Trading & Electronics (ETE) Since 1978, this division of the group has gained accolades for its up-to-date handling of Uninterruptible Power Systems (UPS) and data communications. ETE offers a wide array of electrical products and services such as UPS, battery chargers, flywheels, and static switches among other equipment as well as an assortment of monitoring equipment from world-wide recognized manufacturers. Elkhereiji Real Estate This Division has been involved in the real estate industry for more than 30 years, it has developed many projects across the kingdom for several purposes such as office buildings and shopping centers. Elkhereiji Construction Company Elkhereiji Construction is known for its highly trained engineers and technical experts. Elkhereiji Construction focuses its time & attention on designing and constructing top quality buildings that are also environmentally friendly and aesthetically pleasing. Elkhereiji Construction also has a well-managed engineering and architectural team.Elkhereiji Financial Elkhereiji Financial strives to provide the best possible services to its clients and is proud to be one of the top financial businesse establishments in the kingdom.Elkhereiji International Insurance Company The Elkhereiji Group has years of experience in the insurance industry. Elkhereiji has been delivering a wide-range of insurance services and products via its secondary company, the International Corporation for Trade & Contract Services (ICTCS).Advanced Electrical Systems - Advanced Electrical Systems (AES), is one of the world's top developing electrical contracting corporations. Elkhereiji's motivation and devotion to excellence have allowed it the honor of working with many globally recognized companies and to represent them in the Kingdom .International Corporation for Trade & Contract Services (ICTCS) The International Trade Services Corporation concentrates on helping companies with tactical planning and organization of regulatory, tariffs, customs, and investment problems that affect the movement of raw and finished materials. ICTCS' clients include top multi-national companies and trade organizations, especially in the food, consumer goods and agriculture sectors.|
the oak tree
|Certainly seems to have turned a corner from those times. I'd happily take £1!|
|Been following these guys since the old Screen days. The professionalism now of the new board is outstanding. With a superb product and great management, compared to the infantile mismanagement from Screen. This is now a company that will progress to £1.00 a share in time.|
|I agree with you `bookbroker` only time will tell.|
|Good to see the share price climbing before the AGM trading statement next Wednesday.|
|This has to be a takeover target at this price, on the basis of prospects ahead, cash, position in market, and the likelihood of improving margins this needs to be shaken up, a mere morsel at this mkt cap!|
|That's not true - their contracts tend to be with the manufacturers.|
|Hardly off consequence to PEG, they supply transport operating companies, not as such manufacturers!|
|PEG are already well in with both Siemens and Bombardier, so perhaps this would give PEG further access to opportunities globally in preference to suppliers who provide for only one or the other company.
Such a merger will take a lot of time and effort in satisfying the competition authorities, so I'm not sure it will ever happen, and certainly not for a while yet.|
|http://www.bbc.com/news/business-39572426Siemens and Bombardier in merger talks for their train making business. Bombardier shares were up 6.8%Any views on this?|
the oak tree
|Seems a pretty small disposal, more akin to some sort of tax adjustment than anything meaningful by the looks of it - albeit tax is always meaningful!!|
|Tiltonboy, this is small beer stuff - it's £41k in total of which he had to stump up £7k anyway in conversion monies! And it's a very small portion of his holding, probably just to use up his annual CGT allowance given the timing. Completely insignificant really.|
|Saw the trade go through yesterday, and coupled with the exercise of the loan note, it was obvious that Abdullah had sold part of his holding. Perhaps a little disappointing that he sold more than he exercised!|
|I concur with you Rivaldo but I was simply giving my reasons for selling at the results. Had the Stadler contract win been announced on the same day, I would likely have stayed with it :)
Nonetheless, I would still look at how they conduct their accounting policies.
|Hybridan pointed out in a new note yesterday that:
- new client Stadler have recently won a framework agreement with Hungarian operator MAV-Start for "up to forty 600+ seater trains". More work for PEG perhaps?
- most of the Stadler contract will benefit 2018
- PEG are still trading at a discount to their peer group
- they see scope for a further re-rating "should the current run of contract wins continue"
- they go for 2.95p EPS this year (2.09p fully diluted)
- they forecast £2.8m cash at the end of this year|
|Conversion is 18 months away. In that time, not only are PEG likely to have grown the current business substantially, but they may well have made acquisitions which further transform the company. By which time the convertibles may not make too much difference. And that's assuming all the loan note holders wish to mature anyway...
There's a balance to be struck between taking these things into account, and then letting them obscure the overriding point that PEG is a thriving business on a reasonable valuation and boasting a growing cash pile. And with big growth opportunities domestically and potentially globally - in both the rail and defence sectors.|