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
  -0.50 -3.33% 14.50 127,759 09:27:48
Bid Price Offer Price High Price Low Price Open Price
14.00 15.00 15.00 14.50 15.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 19.97 1.13 2.01 7.2 8
Last Trade Time Trade Type Trade Size Trade Price Currency
09:27:37 O 127,759 14.50 GBX

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Date Time Title Posts
12/10/201915:19Petard's Group - The Long Story1,345
09/9/201523:11Petards...winning lots of contracts 2013-2014735
21/1/201513:04Petards Group - The Long Story-
21/8/201416:23Petards is this the new PEG ? Shareholders look !52
18/12/201311:38*** Petards Plc ***2,528

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Trade Time Trade Price Trade Size Trade Value Trade Type
11:27:3714.50127,75918,525.06O
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DateSubject
12/12/2019
08:20
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 15p.
Petards Group Plc has a 4 week average price of 14.50p and a 12 week average price of 14.50p.
The 1 year high share price is 29.50p while the 1 year low share price is currently 14.50p.
There are currently 57,468,229 shares in issue and the average daily traded volume is 27,056 shares. The market capitalisation of Petards Group Plc is £8,332,893.21.
12/10/2019
15:19
doug74: While a rise in the share price to 30p driven by Hybridan’s forecast would be welcome they have focused solely on improving profit: 2020 FY revenues of £17.7m are exactly twice the June 2019 interim revenue so Hybridan assume zero growth in H2 2019 and zero growth FY 2020. PBT growth of 70% to £1.01m in 2020 infers 2019 PBT of £595k which would also assume about £200k reduction in admin costs H2 vs H1 2019 being savings of non-recurring £100k restructuring costs incurred in H1 and savings of £100k from the related restructuring. It looks like they’ve assumed 2020 GM% at 38.0% though there could be more upside here as production efficiencies flow through and more support & maintenance contracts enter the revenue mix. Given the investment in QRO Traffic division and the assumption that Defence and Rail division orders will be unblocked and bearing in mind 2018 revenues of £20m (which OK benefitted from some IFRS15 flow through from 2017) £17.7m for 2020 would appear to be too conservative. IMHO the only way this company is going to generate REAL shareholder value is if it grows the top line as well as focusing on profit. Both home and export markets. According to the 2018 accounts the Biz Dev director took £282k including share options exercised. That’s a big salary for a small company – especially one that shrinks 11% in 2019 and then stays flat in 2020. Let’s see some of that Biz Dev please Mr. Negus!
09/10/2019
07:41
rivaldo: Hybridan have issued a new note following the contract win. They have a 30p target price, and have PEG on a P/E of only 8 for next year given the strong order book etc. They summarise as follows: "Today, the software developer of advanced security and surveillance systems, announced that it has been awarded a contract to supply Bombardier Transportation with Petards eyeTrain systems. The �1.3m contract is to supply systems to be fitted to ELECTROSTAR Electrical Multiple Unit (EMU) trains as part of an upgrade programme with train owner Porterbrook and train operator Govia Thameslink Railway (GTR). This is a welcome addition to the order book whose growth in H1 was restrained by delays concerning certain rail franchise awards that are now expected to delay into 2020. Today�s order is a reminder that eyeTrain has had considerable success in the retrofit market. This is the case in both surveillance and Automatic Selective Door Operation systems (ASDO). The range of equipment in this order reflects the completeness of Petards� train-based surveillance and data-capture solutions and includes Forward Facing CCTV, Track Debris/Third Rail Camera and Digital Video Recording (DVR) systems. Activities will commence immediately with the first equipment deliveries starting early 2020 and it is expected that the deliveries will be completed in 2021. This adds further confidence to our forecasts for 2020 (unchanged) for which order coverage stood at �7m as reported in last month�s interim results. We are forecasting modest year on year growth in 2020, to �17.7m and adjusted EBITDA growth of 24% to �2.11m equating to PBT growth of 70% to �1.01m, reflecting ongoing cost savings and lower R&D requirements. We believe that the shares have been somewhat oversold post the recent interim results and are on a current year PE of just 12.8x falling to 8x for 2020. The EV/EBITDA multiples are 6x and 3.7x respectively. A share price of 30p, double the current price, would equate to a 16x 2020 PE which we see as more than justified by the Company�s prospects, technology and blue-chip customer base."
08/10/2019
06:29
dealit: Contract win announced 1m+ and the share price drops.
07/10/2019
06:18
rivaldo: Hopefully today's £1.3m contract win from Bombardier indicates that the contracting delays from customers are now a thing of the past: Https://uk.advfn.com/stock-market/london/petards-PEG/share-news/Petards-Group-PLC-Contract-Award/80870787 I note too that this is an upgrade programme fitting train video and data solutions, which is encouraging to see, accompanying the more usual supplies to new builds.
19/9/2019
06:30
rivaldo: Yep, H1 results are poor as expected. Hopefully they're already baked into the share price, with the m/cap now at just £11m, but that's probably being optimistic! Good to see that the group generated £770k of positive operating cash flow - a big rise in debtors since the year end is mainly behind the net decline. Surprisingly, given the already flagged delays in Rail tendering, Rail has performed well, along with Traffic, and the main culprit has been Defence. There continue to be reasons to be positive, including the order book and the likely return of tendering activity and large contract wins in Rail and Defence, but until then the downgrade in H2 expectations means the short term will be dull.
04/9/2019
06:26
rivaldo: New £1.1m contract....in the Defence division! Let's hope those long-anticipated rail contracts follow soon.... Https://uk.advfn.com/stock-market/london/petards-PEG/share-news/Petards-Group-PLC-Contract-win/80656075 "Contract Win Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has been awarded a GBP1.1 million contract by a major UK defence systems contractor to provide Electronic Countermeasures equipment for use on a UK Ministry of Defence ("MOD") programme. The contract is for the manufacture and supply of equipment that will form part of an integrated Defensive Aids Suite on military aircraft. Most of the equipment is expected to be delivered in the second half of 2020. Commenting, Raschid Abdullah, Petards Chairman said: "We are delighted to have been reselected for the next phase of this electronic countermeasures project which will serve to protect aircraft and the lives of the Service Personnel that fly in them. The Company has been supplying and servicing such systems for many years and we believe that this is indicative of the value that our customer places on our expertise in this specialist field."
10/5/2019
08:05
rivaldo: After any announcement regarding the "number of significant new contracts...in 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.
16/4/2019
08:22
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".
11/4/2019
09:05
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.
28/11/2018
09:23
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.
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