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 Shares Traded Last Trade
  +0.00p +0.00% 26.00p 20,714 07:34:20
Bid Price Offer Price High Price Low Price Open Price
25.00p 27.00p 26.00p 26.00p 26.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 19.97 1.13 2.01 12.9 14.9

Petards (PEG) Latest News

More Petards News
Petards Takeover Rumours

Petards (PEG) Share Charts

1 Year Petards Chart

1 Year Petards Chart

1 Month Petards Chart

1 Month Petards Chart

Intraday Petards Chart

Intraday Petards Chart

Petards (PEG) Discussions and Chat

Petards Forums and Chat

Date Time Title Posts
30/5/201912:24Petard's Group - The Long Story1,305
10/9/201500:11Petards...winning lots of contracts 2013-2014735
21/1/201513:04Petards Group - The Long Story-
21/8/201417:23Petards is this the new PEG ? Shareholders look !52
18/12/201311:38*** Petards Plc ***2,528

Add a New Thread

Petards (PEG) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type
View all Petards trades in real-time

Petards (PEG) Top Chat Posts

Petards Daily Update: Petards Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker PEG. The last closing price for Petards was 26p.
Petards Group Plc has a 4 week average price of 26p and a 12 week average price of 21.50p.
The 1 year high share price is 29.50p while the 1 year low share price is currently 20.90p.
There are currently 57,468,229 shares in issue and the average daily traded volume is 20,307 shares. The market capitalisation of Petards Group Plc is £14,941,739.54.
rivaldo: After any announcement regarding the "number of significant new the offing" as detailed yesterday, you probably won't see the share price for dust given the lack of available shares. And the two RTS and QRO acquisitions over the last 3 years brought in almost £400,000 of PBT alone - pretty material for a £14m m/cap company forecast to make £1.52m PBT and 2.65p EPS this year. Another acquisition adding a further £150k-£200k of PBT would take the rolling EPS to around 3p.
rivaldo: With 2.4p EPS forecast this year - and a £1m cash pile - a 23.5p share price looks pretty cheap to me. Especially with £14m of this year's forecast £19.4m sales already secured by order books (including £1m from the new £1.5m contract win) - up from £12m at the same point last year. R&D expenditure is stated to be "much lower in 2019", which will help cash flows and thereby the potential for further acquisitions. Development costs will be matched amortisation-wise to sales of the upgraded/new products as is customary. The results will be H2-weighted, but the market is used to this - and PEG is in a better situation to most companies because they've already secured most of the necessary orders for the year. It's encouraging that there is evidently demand out there for EC's stock. Given the potential for new contract RNS's, and the confidence in the outlook as below, I remain optimistic, especially at this current share price: "The Group has a strong pipeline of new contracts under negotiation which it is anticipated will add to the orders for delivery in the second half of 2019 and for 2020. These together with the Group's strong market position provides the board with confidence in its prospects for the year ahead".
leoinvestoruk: From my blog over the past few days. (Find me on Twitter) Results preview =============== Background Petards describe themselves as a “developer of advanced security and surveillance systems”. Their three product areas are Rail (CCTV and other sensors), Traffic (ANPR systems) and Defence. They presented at Mello Chiswick 2018 where the presentation by Paul Negus (Group Business Development Director) went down particularly well with attendees. [Link to Mello 2018 Presentation] The largest part of the business at present, and almost certainly the part with the most potential, is the rail sector. Here (as in traffic) they claim to the be dominant supplier in the UK. In the presentation they list several UK contracts they have won or hope to win in the near term. In the medium and longer term they should have good strategic opportunities to grow outside the UK. Adoption of cameras on trains and other equipment such as selective door opening are becoming common in the UK but are in their infancy in Europe and many other parts of the world. Since their immediate customers are mostly global train builders they have an opportunity to also become the dominant supplier of this equipment in Europe and elsewhere as adoption increases. In terms of margins, they believe these should start improving as they move from custom development to integrate with each manufacturer’s systems to selling more of a completed product. On the negative side they provide cameras to support driver-only operated trains which are a a meeting ongoing resistance from the rail unions. Recent Events Since September 2018 there have been no contract win announcements, and although during the same period in 2017 there was only one contract win announced, this will have been a disappointment to some. For the past three years they issued their full-year results bang in the middle of March and there was some expectation they would do so again this year. It wasn’t until the 25th March that they announced that they would come out tomorrow, 10th April. There is always the suspicion that bad results take longer to prepare than good ones and that perhaps they were hoping to soften the blow of missing expectations by being able to announce a contract win. It is therefore unsurprising that the share price has been drifting down recently, however if results are in-line, with a positive outlook, then they look good value. Stockopedia reports a forward PE of 10 and a PEG of 0.5 and there is potential for improving margins to improve their quality score plus long term growth opportunities. Current expectations Expectations are for a turnover of £18m vs £15.6m in 2017, with an normalised EPS of 2p vs 1.78p. Disclosure I hold shares in Petards and am likely to add on neutral or positive news tomorrow. Results commentary ================== The main news for me today [yesterday] is the Petards (PEG) results. The good: * Revenue of £20.0m is above expectations of £18m. * Normalised pre-tax profit up nearly 60%. * Small contract win separately announced today (as I speculated), with work commencing immediately. * Order book up and further orders expected. * Net funds down only £0.3m despite £1.25m acquisition. The bad: * Second half weighting for FY2019. * Warning of reduced defence business in FY2019. * Order book (at year end) is only modestly higher at £19m vs £18m of which the forthcoming year is up from £12m to £13m. * Gross margins down. * Normalised EPS not reported and I cannot immediately compare to forecasts. I would expect a modest rise in the share price this morning. However I already have a moderate position and due to the negatives highlighted above I will be holding off adding until there is an unjustified price fall or further positive news. Comment made today ================= Petards’ share price did indeed rise first thing, but it seems that investors then focused on the negatives I highlighted as it has since fallen back 15%, close to 12 month lows. My suspicion remains from the delayed results and simultaneous contract statement that management were disappointed by the performance of the business even if this doesn’t quite come through in the figures. Interestingly the Beneish M-Score is relatively high which is statistically associated with a risk of earnings manipulation.
rivaldo: Cheers tightfist, I missed Judith's talk so glad to hear it, as Downing Active Management own 6.3% of PEG! I'd be interested if you could private message me about what she had to say about GMAA.... Amazed to see the share price here drop yesterday, even after Monday's big rise. PEG were one of the big hits of the entire conference AFAICS, with everyone coming away extremely positive.
rivaldo: The current share price is now crazily cheap imho after recent falls given all we know about PEG's trading. Volumes have been tiny, and the stock is vulnerable to small selling given its size and lack of liquidity - and with it still being under the radar of most investors. A reminder of the outlook from only a month ago: "The Group continues to benefit from a good balance sheet and a strong forward order book of £20 million which has been further enhanced with the recently announced award of three contracts totalling over £6.5 million from Bombardier and Siemens." "The Board is also pleased with the performance of its more recent acquisitions, QRO and RTS, and continues to review other acquisition opportunities." "With the June 2018 order book containing revenues of approaching £10 million for the second half of 2018 and almost £8 million for 2019, the Board remains confident in the future prospects for the Group."
rivaldo: The share price has almost doubled in two years. I can see the same happening again if the company delivers on the optimism and confidence in the interims and continues to win contracts as it has been doing. And there's always the possibility of further acquisitions. The shares just need a little attention, as all micro-caps do, to bring them to the attention of the wider market. Another contract, or the next trading statement, should help things along.
rivaldo: Good to see an early £6k buy today causing an immediate tick up. Hopefully there's a lack of stock around. It wouldn't take much buying interest to get the share price up to or close to WH Ireland's 34p valuation given PEG's relatively small free float. 62% of the shares are held by the top 10 shareholders, including Miton Microcap, Charwell Investments, Downing Active, Chelverton Growth and well-known small-cap specialist Thomas Charlton.
bookbroker: Beginning to question the rational for holding these, contract wins has no bearing on the share price clearly, is that because the market believes they are achieving these by slicing the potential margin or the inability of the Abdullahs to inspire confidence in this company!
rivaldo: Hybridan have issued a new note today, concluding that a 40p share price would still be reasonable and that PEG trades at a significant discount to its sector comparators. In particular, they comment on the RTS acquisition and new Network Rail contract and say: "Network Rail is under well documented pressures to improve efficiencies. Automation of systems and digital enhancement are in our view an important part of achieving this. Indeed, Network Rail in its “Supplier Qualification System” (SQS) for potential IT partners” released in January, indicated that it plans to spend some £2bn on IT goods and services over the next decade. This is against a backdrop of £48bn pledged for rail network improvements by the UK government covering the period from 2019 to 2024. We believe that RTS’s specialist capability and strong relationship with Network Rail leaves it well positioned to pick up more work from Network Rail and its Tier 1 suppliers, both of which it already services. We understand that RTS is engaged in projects that will increase its profile as a trusted specialist service provider to Network Rail’s larger suppliers who lack the expertise in webbased, real-time safety critical applications. On a fully diluted basis, Petards trades on a current year PE multiple of 11.5x falling to 9.3x for 2019E and is on a price/sales multiple of under 1x. The 2019E EV/EBITDA multiple is circa 5x reflecting the strong balance sheet and lack of leverage." "We believe that Petards merits a re-rating to at least a mid-teen PE multiple. At 40p (72% upside), the shares are on a 16x FY2019E PE multiple which we do not believe prices in any significant growth from RTS. RTS was Petard’s second acquisition in a little over two years. The Board continues to keep an eye out for acquisitions that could expand the Group’s capabilities in fields including software, data analytics and services."
rivaldo: From the rather successful Chelverton Growth Trust's results yesterday - having top-sliced PEG at the peak (which may be largely the reason for the share price fall from the top given PEG's tiny £8.5m m/cap), they've been buying back again more recently. They now have 10.3% of their portfolio in PEG: Https:// "The holding in Petards plc was reduced as the share price moved up very sharply and then towards the end of the year the holding was modestly added to at much lower prices despite very positive interim results. Petards plc supplies sophisticated products to the rail industry and is building a very large order book to be delivered over the next two to three years."
Petards share price data is direct from the London Stock Exchange
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190616 04:49:46