Petards Share Discussion Threads

[garth] 28/5/2021 13:10

Nibbled a few more today. Thanks all for the comments shared.

G.

[rivaldo] 28/5/2021 11:50

Interestingly the WH Ireland £500k and £800k PBT figures are not even the adjusted PBT (or EBITDA) before amortisation, share-based charges etc.

They're increased from the 2020 £1.2m loss as per their forecasts table, so they must be the net-net PBT after amortisation, finance costs etc. So the figure for adjusted PBT/EBITDA must be a lot higher!

Let's hope they're right....

[doug74] 28/5/2021 10:44

Can't see how WHI get £500k PBT in 2021.
Assuming revenue rises to £15m (+15%), GM% stays at 2020 H2's of 38.9%, admin costs stay at 2020 H2's rate but adjusted for 2020 H2's restructuring costs and financial expense stays the same then I get PBT of £30k. PBT of £500k would be an extra £1.3m of revenue at 38.9% GM meaning organic growth in 2021 would be from £13m revenue to £16.3m or 25%!

[dave4545] 28/5/2021 10:18

Thanks Garth I only had a brief look this morning.

[rivaldo] 28/5/2021 09:51

WH Ireland have reinstated forecasts this morn ing. They see £0.5m PBT this year, rising to £0.8m next year (with 0.8p EPS and 1.4p EPS respectively).

Net cash is expected to be £2.3m rising to £2.9m.

They conclude that PEG "should now be positioned well to build out from the current base, including potgentially through further bolt-on acquisitions".

WHI should hopefully have been "guided" to these numbers by the company.

It's easy to see substantial upside from here - assuming these numbers are delivered, and particularly if the rising cash p[ile is utilised for more acquisitions.

PEG's track record in terms of the performance of the QRO and RTC acquisitions is extremely good.

[garth] 28/5/2021 09:19

Its the tax credits Dave. There are a couple of paragraphs on it way down. Without those it would have been a bit ugly. But as Rivaldo says - there should be more to flow into the next couple of years while developing other irons...?

G

[dave4545] 28/5/2021 09:16

How do they suddenly generate so much cash next to that turnover.

Accounts not my strong part so perhaps somebody can explain, they lose a load of money but generate all that cash...fancy accounting ??

[garth] 28/5/2021 08:30

Rivaldo,

That was my impression - albeit at possibly a reduced level. Thanks for sharing the opinion.

G.

[rivaldo] 28/5/2021 07:57

Quite an encouraging set of results this morning for what is a mere £6m m/cap company.

The order book looks healthy at £12m (£10m already for this year), PEG have £1.6m net cash, and the outlook commentary is pretty positive. H1 results should look good too given the expected weighting and that 2021 has "started well".

Garth, given the continued investment in new product (such as the 360 degree tank video systems and via the new Virtual Technology Centre) I'd have thought that PEG will continue to receive healthy tax credits going forward.

[garth] 28/5/2021 07:30

Good morning.

Cash bolstered significantly by R&D credits for the period to 2019. Any longer term holders carry a view on what those credits might look like in the next year or two?

Thanks,

G.

[chesty1] 23/4/2021 14:41

hhmmmmm not sure! I got into these @ an average of 12p & thought I was onto a winner....Someone is dumping a few!

[doug74] 23/4/2021 12:50

Very quiet round here. Was wondering what people thought about the PEG share price falls of today and yesterday. Poor results expected?

[rivaldo] 30/3/2021 09:36

For the record, Chelverton Growth Trust are major shareholders here with a £250,000 holding, and they said this today in their interims:



"Touchstar has made some positive announcements in the past six months following its period of reorganisation. Petards is some way behind, but should, in the course of the next 12 months, evidence the positive impact of the remedial work it has been undergoing. In both cases, once trading picks up, operational gearing should drive profits forward."

[rivaldo] 22/3/2021 09:49

Robotics Tomorrow are covering PEG's new armoured vehicle eyeCradt 360 camera system:



"The next annual conference on Future Armoured Vehicles Situational Awareness, which is taking place virtually on the 12th and 13th April 2021, is the industry's only event dedicated to enhancing situational awareness technology for armoured platforms....

....This year's event highlights will include exclusive addresses presented by leading figures within the field:

• 360 Degree spherical video explained by Petards: In a presentation entitled "Feedback from User Trials of 360 Degree Spherical Video on Armoured Vehicles," Mr Scott Patterson, Defence Director, Petards, will introduce the eyeCraft 360 camera system that solves local situational problems for vehicle crews and dismounted personnel. The presentation will also cover the implications caused by human factors as well as its other use cases."

[rivaldo] 22/3/2021 09:14

A 15k buy at 16p just now has caused a 1p rise :o))

There must be very little stock around.

[partner] 12/3/2021 14:38

We could do with a few more buys ,put some pressure on ....

[chesty1] 12/3/2021 14:17

Starting to look quite tasty here again.

[rivaldo] 12/3/2021 13:36

Looking good - a nice 50,000 buy at 16p has done the trick today.

[partner] 12/3/2021 12:21

MMs willing to buy large quantities at above bid , not sure on the buy side.....

[rivaldo] 09/3/2021 10:07

Indeed - a 70,000 share buy at 15p....

[chesty1] 09/3/2021 08:58

Gone blue with no trade showing....Delayed trade to follow me tinks.

[rivaldo] 08/3/2021 09:34

A nice 25k buy at 14p has caused a jump this morning.

I also noticed this in the Times:

"Hitachi puts high-speed UK building plan in train

The Japanese manufacturer of Britain’s intercity express and Javelin high-speed trains has committed to building more of its rolling stock in the UK.

The announcement from Hitachi Rail comes as competition hots up for the contract to assemble trains for the HS2 high-speed link between London, Birmingham and beyond.

The plan also could mean that Hitachi will become one of the first companies to benefit from the chancellor’s 130 per cent tax “super-deduction” for investment in new plant and machinery that was announced this week....

....Its main competitor for the work will be Siemens, the German company that yesterday unveiled the new Tube trains it will build for the Piccadilly line on the London Underground.

Siemens is building a plant to make rolling stock at Goole on Humberside. It will go into production in 2023 with the aim of building half of the 94-train order for the Piccadilly line, with the rest coming from Siemens’ facility in Vienna."

[rivaldo] 05/3/2021 07:22

The Times this morning highlights the rail sector as a big beneficiary of the Chancellor's Budget tax incentives for investment.

Note that Hitachi, CAF and Siemens are all PEG customers:



"Another beneficiary could be train manufacturing, which is surging as Hitachi invests in Co Durham, CAF opens a south Wales plant and Siemens builds a factory on Humberside."

[wakeland] 25/2/2021 12:19

Thales consortium picked up a big order from UK defence, similar system for armoured vehicles that Peg have. Seems they are farther down the road and past the trial stage but it does show there is a big market for the technology. Just depends how Peg system stacks up against that of a major such as Thales.

[chesty1] 25/2/2021 11:44

Well it has given us a bit of volume!