Share Name Share Symbol Market Type Share ISIN Share Description
Petards LSE:PEG London Ordinary Share GB00B4YL8F73 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20p -0.78% 25.30p 24.60p 26.00p 25.50p 25.30p 25.50p 2 10:40:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 15.6 1.2 3.3 7.6 14.11

Petards Share Discussion Threads

Showing 6001 to 6024 of 6025 messages
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DateSubjectAuthorDiscuss
15/5/2018
15:23
Interesting to see on the newly acquired RTS's web site that they have strong relationships in Australia - should be an opportunity for cross-selling: Https://www.rts-solutions.net/about.htm
rivaldo
15/5/2018
10:03
Nice 50k buy at 26p has caused today's tick up. WH Ireland have a new note out and have increased their target price to 34p (from 30p). They have been EXTREMELY conservative as regards new forecasts - and say so themselves. They've left this year's forecast at 2p EPS, and have raised next year's to 2.4p EPS. They also forecast £1.4m net cash at 12/18, rising to £2m at 12/19. They summarise as follows: "Acquisition of RTS Solutions; FY 2019E earnings raised 14% Petards supplies advanced security and surveillance systems to the Rail, Defence and Traffic Technology markets. This morning, the Group has announced the successful acquisition of RTS Solutions for a maximum net consideration of up to £1.5m, satisfied in cash alongside a new £1.25m five year bank facility. The addition of the business not only broadens Petards’ portfolio of products in the wider rail market but has the added attraction of a high degree of recurring revenue; this at an historic PER multiple of sub 6x. The Board expects the acquisition to be earnings accretive in the first full financial year of ownership. We cautiously assume no impact in our FY 2018E earnings estimate, whilst we raise our FY 2019E earnings expectation by 14.0%, implying the shares currently trade on a lowly FY 2019E PER of 11.0x and 5.5x EV/EBITDA. Reflecting the change to our forecasts, whilst placing an inline Support Services sector rating to the shares would imply fair value of 34p (previously 30p)."
rivaldo
14/5/2018
08:13
The acquisition should increase EPS this year to say 2.15p-2.2p EPS, and next year to say 2.4p-2.5p EPS. At 26p that's a pretty low P/E getting towards single-digits. Pug, wrong again I'm afraid. I bought these at around 10p some 3 years ago, so a 160% gain isn't to be sneezed at. And there's the potential for much more given the strong outlook for the global rail and defence electronic counter-measures sectors in the next few years.
rivaldo
14/5/2018
07:42
Last looked at this back in 09 and had fallen off radar - Does not look at fist sight that much missed !!
pugugly
14/5/2018
07:09
Excellent - a sizeable and earnings-enhancing software company acquisition, adding around £300,000 of PBT, and with 50% recurring revenues too. Plus it's complementary to the existing business. Nice: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PEG/13638984.html
rivaldo
01/5/2018
14:57
Chelverton Growth Trust have just issued their interims to 28th February. In it they have this to say about PEG, in which they now have £460,000 invested: Https://www.investegate.co.uk/chelverton-grwth-tst--cgw-/rns/half-year-report/201805011346127680M/ "Part of these cash proceeds were used to re-acquire shares in Petards, taking the shareholding back to the level we had previously held. These purchases were however at much lower prices than the previous shares had been sold at. The company has just produced a very positive statement and the future prospects look good and the share price has started to recover strongly."
rivaldo
19/4/2018
11:04
Hybridan have a 35p target price. They go for 2.15p EPS this year, with a closing cash pile of £2.5m. They note that earnings-enhancing acquisitions are firmly on the table. The following extract also stresses the potential for large £1m+ contract wins from the rail rolling stock boom from already existing customers: "The 2018 opening order book of £18m has been maintained and coverage of 2018 revenues from that order book and from the first quarter's revenues has now increased to over £15m. This gives 85% coverage of our FY Dec 2018E revenue forecast of £17.5m (+12.3% year on year). Our PBT forecasts for the same period are £1.2m. The Board has expressed confidence that the 2018 full year results will show further progress over those achieved in 2017. Petards remains in discussions for major new projects across all areas of the business. We are hopeful that some of these can be converted over the rest of the year although it is likely that revenue recognition would be weighted towards future periods. Further headway has been made with the MOD with the recent £1.1m extension of an existing support contract. Investment in new rail rolling stock continues, and there are a number of UK new builds where we believe Petards state of the art rail technology solutions stands a great chance of picking up seven figure orders. Bombardier, a Petards customer has been awarded contracts for over 1,000 vehicles in total for the South Western and West Midlands Railways. Other major contracts out for tender to train builders include South Eastern (800 vehicles), New Tube for London (3,000 vehicles) and HS2 (800+ vehicles). The good news is that the majority of likely contenders for these tenders are already Petards customers."
rivaldo
18/4/2018
07:14
Terrific AGM statement today: - revenues trading ahead of management expectations - large forward visibility of revenues - confidence in this year's results Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PEG/13608390.html
rivaldo
08/4/2018
07:54
Yet another win for Bombardier, supplying 40 high speed trains to Sweden - hopefully PEG will as usual be in the frame for more work: Https://www.investegate.co.uk/bombardier-transportation--0qzp-/gnw/bombardier-wins-contract-to-provide-40-high-spe---/20180406132457H2445/
rivaldo
06/4/2018
13:21
Looks like a 37k buy at 28p has got things moving nicely today. Evidently not much stock around.
rivaldo
27/3/2018
15:37
Bombardier have just announced they've won more business with TFL for £73m more AVENTRA trains: Https://www.investegate.co.uk/bombardier-transportation--0qzp-/gnw/bombardier-to-provide-five-additional-aventra-t---/20180327145558H9841/ PEG have of course already won business for AVENTRA trains/Bombardier.
rivaldo
21/3/2018
10:14
Rising nicely, and looking good chart-wise - now above the Oct'17 peak and looking upwards to 30p+.
rivaldo
19/3/2018
07:09
Excellent news today, with £1.1m of further secured income through to 2021 from the MOD - a big vote of confidence in PEG: Https://www.investegate.co.uk/petards-group-plc--peg-/rns/mod-contract-extension/201803190700040546I/ "The contract extension is expected to be worth in excess of £1.1 million over the two year period to 31 December 2021 in addition to the original contract which was worth in excess of £1.6 million for the three year period to 31 December 2019." Incidentally, 2017 was a year of significant investment for PEG in eyeTrain software and hardware - this is not expected to recur, so cash flows and the large cash pile should improve further this year. Plus revenues are expected to jump this year given the deferrals from 2017 which will fall into 2018 - and with defence orders for 2018 almost 40% higher than at this stage last year, plus the rail division's prospects looking better than ever.
rivaldo
17/3/2018
16:11
Results were okay on the face of it. However: - Revenue was barely up on the prior year and, with the order book down versus end-2016, it may be hard for them to deliver market expectations (up 13%) in 2018. - Capitalised development costs were just over £1m. This is about 25% of the total payroll net of directors remuneration, which seems extraordinarily high.
effortless cool
15/3/2018
09:51
Hybridan have also issued a new note. They go for 2.15p EPS this year, with a closing cash pile of £2.51m. They summarise as follows: "Petards ended the year with a strong order book of over £18m, with over £12m thereof deliverable in the current financial year. This has been further augmented by a subsequent £1.5m order from the Ministry of Defence (MOD). Prior to this, defence orders scheduled for delivery in 2018 were almost 40% higher than at the same stage last year. 2017 was a significant year of investment for the Group, particularly in eyeTrain software and hardware products. Nevertheless, positive cash flow from operations combined with a conversion of all outstanding debt meant that net cash grew from £775k to £1.3m. The outlook for the rail division remains strong. Petards has six of the world's largest train builders as its customers. The 2017 edition of the Long Term Rolling Stock Strategy published by leading players in the UK rail industry forecast that the number of vehicles in service will increase by 20-25% in the period to 2024. The outlook for Petards’ defence products is positive in the medium to long term as the MOD, encouraged by Brexit, turns to cheaper UK suppliers, and is released from EU competition rules. Our 2018 forecasts are looking for revenue growth of 12.3% to £17.5m and adjusted EBITDA growth of 17.8% to £1.91m. On a current year EV/EBITDA multiple of 5.8x and PE multiple of just 11.5x, we do not believe the rating adequately reflects the solid niche, that Petards has built in the rail sector which is underpinned by very solid long-term growth drivers. In due course we would hope to see Petards grow its product offering in the sector either organically or by acquisition."
rivaldo
14/3/2018
13:29
WH Ireland also forecast that the cash pile will rise to £3.5m by the close of 2019 from £2.5m this year. They note: "The order book stood as at 31 December stood at over £18m, providing excellent visibility over the next 18-months, including over £12m order coverage for FY 2018E. Following the results, we have left our FY 2018E earnings expectations unchanged, whilst introducing FY 2019E forecasts for the first time. At current levels, the shares trade on a lowly 11.7x FY 2018E PER and 5.6x EV/EBITDA and we continue to see fair value at 30p." And conclude: "Looking forward, the Group is well set for the year ahead with the order book standing at £18m as at 31 December, with £12m for delivery in FY 2018E and £5m for FY 2019E, including Stadler Bussnang AG on the list of customers for the first time. Encouragingly, management notes that the Group is in ongoing discussions for new projects across each of the areas of the business and it was encouraging to see the £1.5m Defence order last month. The shares currently trade on a FY 2018E fully diluted PER of 11.7x and EV/EBITDA of 5.6x. Given the level of secured work, in addition to the pipeline of opportunities, we believe that these multiples continue to undervalue the business."
rivaldo
14/3/2018
09:01
Rivaldo, I appreciate that is the accounting justification but the expense of development is regular and ongoing and part of everyday activity. It's a judgement what part of the costs might relate to or benefit a future period but remains a here and now cash cost. To my mind eyeTrain development costs are not one offs to be kicked down the road in order to inflate profit in the current year.I accept its what IT companies do with their auditors' blessing but I would always keep an eye on cash flow to watch for deterioration of trading.That's my only point about validation of the PER here. The business is a sound one but it is in a competitive environment up against tough customers trying to price them down.
bones
14/3/2018
08:23
WH Ireland retain their 30p target today. They see 2p EPS this year, with the cash pile rising to £2.5m. PEG's customer list now includes "six of the world's top ten train builders" with the addition of Stadler last year. And with rail providing most of the large overseas sales, it would seem that PEG's products add considerable value to their customers, indicating that PEG perhaps have decent pricing power of their own. The eyeTrain investment is for contracts going forward so will be amortised when the resulting revenue flows in. And once spent then that same investment will benefit future order and contract negotiations with other customers.
rivaldo
14/3/2018
08:04
All reads well but the amount of employee costs that have been capitalised to development assets (eyeTrain development) is over £1m which is pretty much the profit for the year. Cash flow once again is less than reported profit so as always in the back of my mind is the question of how tough it is for PEG to make decent returns over the long term as I'm sure the big rail companies squeeze their suppliers as much as they can.
bones
14/3/2018
07:45
PEG's results show them to be in excellent shape for this year, with the £1m deferrals from last year helping towards an impressive order book for 2018 and beyond. PEG also have £2m net cash, against the £13m m/cap. And PEG will gain a further £130k or so this year with no loan note interest payable. The Chairman's outlook statement is nicely confident, with new project discussions "across all areas of the business": ""The Group's order book at 31 December 2017 was over £18 million, of which £12 million is expected to be taken to revenue during 2018. We are also engaged in on-going discussions for new projects across all areas of our business, many of which our customers have themselves already been awarded. This coupled with a strong balance sheet provides the board with confidence for the Group's prospects in 2018 and beyond." Good news today re QRO: "has also recently been awarded two multi-year framework contracts, the first with Thames Valley Police and Hampshire Constabulary and the second with the Cheshire Police. Both contracts are expected to contribute to revenues in 2018." With a core £1.62m positive EBITDA, and a good outlook in Rail, Defence and Traffic, prospects look pretty good imo.
rivaldo
02/3/2018
09:52
The Times reports today that Siemens are considering building a new £200m rail manufacturing factory in the UK. The article demonstrates the scale of the upcoming opportunities for PEG. PEG have in the recent past won contracts with all of Siemens, Hitachi, Bombardier and Alstom.... Https://www.thetimes.co.uk/article/siemens-vow-to-build-uk-rail-factory-fn35995z3 Extract: "Transport for London is running a £2.5 billion competition to build 250 carriages in its “deep Tube” programme for the Piccadilly, Central and Bakerloo lines. It expects to award a contract in the autumn. HS2 Ltd is about to launch a £2.75 billion competition for 54 train sets for the London-Birmingham-Manchester high-speed rail network, which it expects to award next spring. Siemens is shortlisted for both — as are Bombardier and Hitachi. There is a fourth bidder shortlisted for both HS2 and deep Tube: Alstom, the French train manufacturer, which is going through a complicated merger with Siemens. ...Siemens is also targeting further future UK train-building programmes, for a project variously known as Northern Powerhouse Rail or Great North Rail, the as-yet unspecified trans-north railway linking the big northern cities and providing faster and more regular services between Leeds and Manchester."
rivaldo
27/2/2018
10:09
It's worth reiterating that PEG now have £2m cash (including the £700k compensation receipt). This is forecast to rise to £3m by the end of this year - against a mere £13.6m m/cap. With forecast 2.3p EPS, the ex-cash P/E must fall to only around 8.5 or so.
rivaldo
23/2/2018
23:16
Good new website Petards have now
chunkster
23/2/2018
12:00
Starting to look good for the first time in months needs to break through 25p
chunkster
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P:42 V: D:20180523 16:57:28