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PEG Petards Group Plc

0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Petards Group Plc 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
  0.00 0.00% 7.75 7.50 8.00 7.75 7.75 7.75 0.00 08:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Security Systems Service 10.87M 524k 0.0093 8.33 4.38M
Petards Group Plc is listed in the Security Systems Service sector of the London Stock Exchange with ticker PEG. The last closing price for Petards was 7.75p. Over the last year, Petards shares have traded in a share price range of 3.00p to 8.25p.

Petards currently has 56,528,229 shares in issue. The market capitalisation of Petards is £4.38 million. Petards has a price to earnings ratio (PE ratio) of 8.33.

Petards Share Discussion Threads

Showing 6651 to 6674 of 6700 messages
Chat Pages: 268  267  266  265  264  263  262  261  260  259  258  257  Older
The part that stands out for me is, this could be sold to many other police forces.

The hard part is getting through the door with org like the police or any other tax payer funded org. So could be quite some roll out.

Not a bad start with 20% up so far.

the oak tree
WH Ireland's update note this morning talks about the positive start to this year, and rehashes today's contract win news, until this decent summary in the last paragraph given the mere £3.4m m/cap:

"With a range of fundamentally competitive products in their respective markets, we see real potential for improvement as the rail market recovers and highlight the group’s robust net cash position (FY2024E WHI est: £2.7m). Trading on low single digit P/Es for FY2024E and with net cash making up over 50% of the market cap at the year ended FY2023E, we view the shares as undervalued at current levels"

The RNS includes this text
"... for two lanes of ANPR and manages wireless/4G/5G communications for onward transmission of data to the police force back office systems. The DVR option"

Can someone post what ANPR & DVR are ?!

(Sounds like clever stuff....& needed by the police to bring their technology more up to date; surely a lot more potential police orders out there, must be a lot of police traffic vehicles out there)


ANPR- automatic number plate recognition

DVR - digital video recording

...nice contract win.
Share price doing well recently, well it was/is crazy cheap.


....agreed that it's great for the UK to have foreign owned car companies doing car production in the UK, but ! generally there is a trend of moving some car factories from Western Europe to eastern Europe where wages are much lower. Some historic British car brands are owned abroad, Jaguar, Range Rover, Mini. If any parts of production are ever moved abroad then it is unlikely they would ever come back !
(Rolls Rolls bodies/chassis are now built abroad, & uses BMW engines I think.
Royal Enfield motorbikes are now I think only made in India.

Strange that most formula 1 car companies are based in the UK I think, except Ferrari, so for racing cars the UK workers/skills are highly regarded)

Another contract win announced for QRO, this time for in-vehicle ANPR as opposed to the prior contract win for AI cameras.

And it's for a new police force customer too:

...I think you misinterpreted the text in my post. It doesn't say what you seem to think it says.


(..& would I want a return to British Leyland cars & the culture of a UK car industry kept alive by Govt subsidies ?
...but subsidies is a difficult topic, looks like the UK steel production sector is getting a lot of Govt subsidies in '23-'24).


(Car industry.
Bit sad that the Germans are able to successfully design & build cars in volume yet the Brits can't. Audi, Opel (owned by GM (USA) ??), Volkswagen, BMW).

Smithie, You think like my 82 year old Dad. Sure these companies are owned overseas. But the likes of Nissan and their employees pay PAYE, NI and corporation tax in the UK. Or would you prefer British Leyland again? Austin Allegro perhaps?
..the new big shareholders will be happy with the recent >50% share price rise

Up about 20% so far today

..while/but is it just £10-12k of shares traded !?
...sure is illiquid

...hang on to your hats

The MM was willing to pay 5.9p to buy £4k of shares. So, imo the MM thinks there is more to come, or is keen to buy shares to fill sell trades he has already made today.

Remember on the update when they marked it down to 2.5p bid on the update trying to flush out anybody but would only offer 25k at 3.27p

mm's are absolute crooks now, no wonder most old school stocks have no volume with terrible spreads.

Value outs in the end though

...."a new era for British manufacturing"

Whatever was the author drinking ?!

Noting that the British own design/label car industry largely collapsed/disappeared in the 60s-70s.
What UK owned car makers still exist, Morgan ?!!!
Did TVR go bust ? Aston Martin, these names are tiny volumes. Jaguar, Mini, Range Rover, Rolls Royce are all owned by overseas companies and are always at risk of losing a % of production to cheaper overseas factories.

And Siemens making Piccadilly trains ...well, Siemens is not a British company. And I think that Britain doesn't even own/have any designs for any current high speed trains.

A new era for British manufacturing, I doubt it.

Has the Siemens Goole factory or Alsthom one (I think they have built some UK trains in recent years) ever exported any UK made trains ?
I doubt it.


But the cap. value of PEG is so small if it has just/even small contracts from the UK train/metro sector it can be material to the company's results.

Another company to benefit from the Siemens factory expansion should be LPA Group.
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"


"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:

Revenues: 2022 2021 2020 2019 2018 2017 2016

Revenue: 10.87 13.57 13.00 15.71 19.97 £15.6m £15.3m
Op'Profit: £0.22 £0.57m -£1.14m -£1.3m £1.15m £1.24m £1.09m

This was the comment from Raschid Abdullah in the 2023 results...laughable when set against above stats:

"Management is continuing to drive the Group’s development forward, and the Board’s objectives for 2023 are for improved results, strong cash generation and to further strengthen the Group’s portfolio of businesses.”

And corporate governance in the form of independent directors is non existent.Many of us were fooled by the pronouncements by the Abdullahs, and have watched as the business has consistently shrank on every metric. Really depressing but lets hope that the new 3+% shareholders will be more engaged & vocal than the offshore holders were
They'd be enough suitors I'm sure. The problem is that the awful Abdullahs have driven this into the grounds; its effectively a lifestyle business from them, which they show absolutely no signs of wanting to give up.

My biggest worry is that they attempt a 'smash n grab' at a derisory price dressed up as an MBO just at the point that their main market Rail starts to pick up. Why do I think that? Because all teh signs are there: virtually no investment in the business: R&D has been consistently reduced; not invested in sales & marketing; talked about but not executed on any acquisition; given no updates or explanation about current & future strategy; ignored investor relations or courting new investors- website is a disgrace...if they were truly interested in driving the business forward the above would be very different.

Does anyone feel that a takeover by a Company within this sector is possible, market cap of PEG must be temping?
Rivaldo, Always admire you're positivity. Are you a Brazilian footballer or an Abdullah incognito? :)
Fevertree, I hope you're right with the two slight glimmers. Not sure that 1970's rail and defence management style will work with AI markets. Certainly a smash n grab seems a risk.
Dave, Totally agree. It seems MM's live from day to day. With such a short sighted time horizon in relation to spreads its difficult to see how PEG could grow as a tech stock. If the "value" is there, despite the Abdullahs, why not half the spread to encourage investors, and more than double the volume at a higher price? Maybe I'm just simple.

That's the problem with "value" stocks only about 1% seem to want them now.

Day traders market so everybody wants fast moving rubbish, not a stock cash rich making money on a low rating. I guess the logic is if they are so cheap they will get took over so you could wake up one morning and find a nice 100% premium bid on them.

But wide spread dead stocks traders will not even look twice...until they are up 50% which can happen.

I remember when Peg spiked 100% once buyers all over it...a very long time ago.

Post September's results I posted this below. The cumulative points being the degree of stagnation at the business has been palpable in recent years, thanks to the dreadful lack of dynamism and leadership from the Lifestyle Abdullahs. Two slight glimmers: (1)they are reducing overhead (but from where?) (2) QRO continues to deliver well...

Sept 26th Comment:

Not just terrible, utterly disgraceful esp given Raschid Abdullah's Chairman's outlook statement at the FY results in May:

"At 31 December 2022 the order book stood at just over £4 million (31 December 2021: £7 million), most of which is scheduled for delivery in 2023. 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.

Management is continuing to drive the Group’s development forward, and the Board’s objectives for 2023 are for improved results, strong cash generation and to further strengthen the Group’s portfolio of businesses.”

On every bloody metric, this business is being driven in reverse. It is crystal clear that there needs to be change at the top, and quickly! Management has no handle on their core markets: misleading FY comments about Rail outlook compounded by naive comments about the defence performance which seemed to surprise them.

So many questions here? Do they have the right team dealing with Rail and MOD? Do they have a proper understanding of timescales? Where is the evidence of reducing reliance on UK rail market which they have been moaning about for last 3-4 years?
Why have they have progressively & drastically reduced spending on R&D? Why are their Admin overheads so high and why haven't they done anything about it? Why are they not investing in sales & marketing?

Truly dreadful - the Abdullahs are solely responsible for this continued shambles and dont seem to care about s/holders or staff for that matter. Another utterly dreadful set of results

In August I posted this:

We are 9 months into the current year and absolutely nothing has happened of any consequence, no new contracts, no acquisitions...its shameful, especially when one considers the ridiculous situation that the Abdullah's didnt actually release FY results till May!, 4 months after the year-end, when s/holders were treated to this rubbish from Abdullah:

"Management is continuing to drive the Group’s development forward, and the Board’s objectives for 2023 are for improved results, strong cash generation and to further strengthen the Group’s portfolio of businesses.”

Clearly he had been reading a different script given FY results that showed (1) Revs had dropped 30% (2) Op Profit -60%( 3)Cash generation -20% (4) Order book down 40pc.

Increasingly this looks like a lifestyle company for the Abdullahs. Perhaps the plan is to hoard cash, tick the business over, & then launch a cheeky bid to take it private, whereupon suddenly things pick up. I dont know but hard to see any other explanation for the neglect I witness...:
A quick look at the AR shows
1. Average salary is a hefty £47,753 (wages & salaries of £3,868m divided by 81 staff)
2. Of that 81 staff, a staggering 23 are in admin (28%) with only 5 in sales!!! hardly the stats of a business intent on driving sales.....
3. Admin expenses at £5.3m are huge for a business generating £10m & they barely made any dent in that figure to reduce it
4. In 2022 the firm more than halved its spending on R&D to £247,000
( 2.3% of revenues) from £553k in 2021, which is fairly extraordinary for a business
that bangs on about innovation...

Doug74...quite right about the baleful Abdullahs. Their management track record is atrocious, as any quick glance at the results regression in recent years clearly illustrates.The website is abysmal and rarely updated, they treat the company as their own private plaything, and they treat their shareholder relations with at best indifference and at worst contempt. Wouldnt be surprised if they attempt a smash n grab to take the company back private at the current derisory level.....
Interesting new article from PEG's Chief Technical Architect about their innovative Automatic Selective Door Operation:
Hybridan have a new note out today after the contract win.

They forecast £0.3m PBT and a £0.5m PAT this year.

They see the cash pile growing to just over £2m by December against the £2.49m m/cap.

There's some useful info re QRO and the new contract win:

"The cameras will be installed at several strategic highway locations in the UK
allowing QRO to showcase the Harrier AI nationally to existing and potential police force customers.

The Harrier AI camera was designed and built by QRO in the UK and launched in December 2023. Empowered by Nvidia’s Jetson processors, it delivers real-time analytics ANPR software-enabled data processing and is powered by machine learning algorithms, making it adaptive and responsive to ever-changing road conditions and offering functions such as vehicle make, model and colour detection and traffic flow analysis."

"Hybridan’s view: QRO Solutions designs, manufactures, and installs cameras for roadside, overbridge and in-vehicle deployment and offers android handheld alerting software, database software and field services. QRO Solutions has an estimated 35% share in the UK police market for ANPR cameras. We believe that QRO Solutions will pursue growth opportunities in ULEZ (ultra-low emission zone) charges and car parks in the UK and perhaps expand its footprint to overseas markets.

Petards’ FY22 annual report indicates that QRO revenues increased 17% in 2022, despite the shortage of microprocessors in the early part of 2022 and QRO’s revenues had tripled since 2017, i.e., the first full year of Petards ownership. We believe that the success of QRO demonstrates Petards’ ability to acquire and integrate acquired businesses."

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