Petards Share Discussion Threads

[dolittle1] 30/6/2023 22:39

How do we kick management out? Worth a complaint email to Chelverton and Thomas C?

[fevertreeman] 30/6/2023 12:46

Yes its a tricky one. For me this is woefully undervalued and part of the problem is down to a complete lack of interest from the management and owners about presenting their case. The investor relations is non existent and the website appalling.

[arthur_lame_stocks] 28/6/2023 18:46

The subsidiary accounts have now been lodged with companies house if anyone is interested. QRO appears to be the jewel in the crown and may be worth more than the whole group.

That said with the Raschids controlling it and no dividend and an erratic record of profitability I don't think I'm particularly inclined to buy the shares even if the breakup value is some way higher.

[dolittle1] 27/6/2023 22:42

New low. What can be done to give Raschid and Osman Abdullah a kick in the backside?

[fevertreeman] 19/6/2023 09:58

I think that what is missing is any urgency from Raschid and Osman Abdullah who run the company. I continue to hold this but share price has shrank consistently over last 2 years as the firm has failed to get out of its trough. It has been hit badly by a number of factors:
1. General lack of investor interest in micro-caps &AIM listed -NOT IN THEIR CONTROL

2. Appalling Investor Profile: dreadful website, no media visibility. Ridiculous that they can't be bothered to produce a proper up-to-date investor presentation. TOTALLY W/I THEIR CONTROL

3.Covid impact on rail sector: their biggest segment has been badly hit by coivd and aftermath, with capex grinding to virtual standstill, badly impacting order intake. Only slowly recovering now, partly mitigated by ANPR business which is performing very well. NOT IN THEIR CONTROL

4. Acquisitions: they have spoken repeatedly about add-on acquisitions but have failed to get one across the line as yet. At some point ehy may land one but valuation gap still an issue. PARTIALLY W/I THEIR CONTROL

5. Cash Pile: They clearly want to use it to (1) reinvest and (2) make acquisitions but the longer (2) doesnt happen the more it becomes an issue when +50pc of market cap is presented by cash on b/s W/I THEIR CONTROL

6. What is the strategy? Unclear wther this is (1) lifestyle company for the Abdullahs and they are content to just potter along (2) They want to buy n build the business and yet we have had no sign of any ambition on that front (3) They are looking for an exit (see appointment of new NED). Very unclear what the game plan is. W/I THEIR CONTROL

[dolittle1] 15/6/2023 23:41

Who is currently invested? Looking to buy since looks very cheap esp with T Charlton buying more recently. What am I missing?

[dolittle1] 14/6/2023 12:54

Anyone here?

[dolittle1] 13/6/2023 15:15

Looks cheap and Thomas Charlton has been adding (he did the same at TST prior to the rise) . What am i missing?

[farrugia] 01/6/2023 12:39

i bought a few here.

[dave4545] 26/5/2023 15:53

That chap up to 4% must have been behind all those 100-150k buys this week and last

[dave4545] 25/5/2023 19:34

I doubt many will argue with you.

But not many companies are making profits and this one still is.

My best performing share today simply because the only stock I hold that close up at 2%, 2% in this market is like 20% in the old better market

[truffle] 23/5/2023 11:53

I held shares here a few years ago and then sold at a loss. It was always jam tomorrow.

At times it has looked tempting to buy in again, but in reality this is yet another example of a company promising much and delivering nothing and the market cap is now below £4 million!

Just look at the share price over many years, its an appalling record.

All IMHO and DYOR

[dave4545] 22/5/2023 14:10

Somebody wants in and somebody is getting out.

100 and 2 x 150k buys and a decent 550k sale worked out

[dave4545] 22/5/2023 12:49

150k buy at 7.37p

I test 25k and get 7p mid price so might as well take it, anything higher is 7.37p ish

[chesty1] 17/5/2023 14:01

Market not impressed!

[rivaldo] 10/5/2023 08:42

Hybridan have issued an update this morning. They forecast revenues rising this year to £11.5m and then to £11.9m next year.

They see 0.53p EPS this year rising to 0.97p EPS.

The cash pile is forecast to rise to £2.5m this year and then £3.2m - almost 70% of the current £4.7m m/cap.

In conclusion:

"Hybridan forecasts: We forecast 2023 revenue to be slightly higher than 2022,
as the demand for the Group’s ANPR solutions continues and the UK rail market for core product eyeTrain has shown signs of recovery in 4Q22, with significantly higher bid levels than have been seen over the last two years, particularly in the new build and retrofit rail rolling stock market."

[nick rubens] 09/5/2023 11:44

At the moment the market simply has no interest as the company has been in a stalling mode for some time. It needs some serious corporate action to get a more realistic valuation.

I'm seeing a bargain here, and have for some time and yet find myself hesitant to buy more wondering has the market got this right? I suppose I'm waiting for others to act first? Looking for a flurry of buying perhaps?

[rivaldo] 09/5/2023 07:36

Considering the hiatus in UK rail spending - which it seems is now improving - these are imo a rather decent set of numbers.

PEG have a m/cap of just £4.8m, yet have remained profitable despite their main division being so stymied.

They made a £0.52m PAT, and have almost £2m net cash (pre-IFRS), i.e backing up around 40% of the m/cap.

They also have excellent recurring revenues, up another 11% to £5m.

QRO is performning outstandingly, RTS are doing OK and are expected to improve, and Defence should finally pick up traction given the Ukraine war.

Above all, the recurring income and the pick-up in Rail gives encouragement for this year - a "satisfactory" and cash-generative start to trading bodes well.

Plus there's an encouraging note to possible further acquisitions from the cash pile.

And:

"We are now seeing encouraging signs for new projects, particularly in the new build and retrofit rail rolling stock market, for some of which we are currently in active negotiations."

These could be huge relative to PEG's minnow-sized m/cap.

[jeevsje] 09/5/2023 07:13

Really disappointing set of numbers. New financial years hasn't had a good start either ("satisfsctory").

[the oak tree] 14/3/2023 08:24

Sure enough that first thing in the morning spike has gone. Back to the same old......

[the oak tree] 14/3/2023 08:21

Bit of a spike up first thing today, perhaps its nothing and just the market makers trying to find a level.

Anyway......only thing I can see is what appears to be a new ish forecast for 2023.

FY2023 Revenue £21.5m EPS 2.9p up 2.4p giving a PE of 3.62 for 2023. That EPS is 146% up on FY2022. At some point I expect a substantial rerating. Its only a £6m cap so could move alot and quickly.

IMHO