Porvair Share Discussion Threads

[walker10] 28/8/2008 22:39

nondom you want to have a read of this:

"Comments on the acquisition of Seal Analytical by Porvair plc made by Ben Stocks, CEO Porvair plc":

[nondom] 20/8/2008 15:35

Water is complex. Seal may be in it but in a very small niche. Sure Stocks bought it, but does he know what he bought? He told us he knew about Fuel Cells.

Interesting that both F&C and M&G have reduced their shareholding. They must be in at more than cuurent share price but they are taking the chance to get out.

[sleveen] 16/8/2008 07:19

Is the Seal acquisition finally being appreciated; recent rebound in share price might suggest so?

Interesting whilst only 900 shares traded on LSE yesterday 11k were traded on Plus

I'm long @105

[walker10] 13/8/2008 14:19

This is an interesting read investors presentations,if you scroll down to: "Group key growth projects" it will give you an idea of what they are targeting.

eg : Energy Storage components $20M per annum. Sound good let alone all the others and now plus water.

[mikehardman] 12/8/2008 17:02

walker10 - thanks for your company

[walker10] 12/8/2008 16:30

Well Ive joined you Mike, good little company IMO,:

Chief executive Ben Stocks said the continuing growth - Porvair is in its fifth year of increased sales - was largely down to the company's investment in research and development.

"We have been investing in new products for six years now and we can see the benefits of that," he said.

"We have half a dozen new lines that are beginning to generate sales."



and

Mr Stocks added: "We do a little bit of high-purity water filtration and we've always known that it's an exciting market to be in. Issues of water scarcity and pollution are fast growing in the developing world as people take on water standards and in the developed world as water-quality standards tighten.

[mikehardman] 12/8/2008 10:48

long 102 (yesterday afternoon, in ISA)

24jun interims showed a pretax profit up 33% to £1.9m, revenue +12%, EPS +28%, 'Encouraging progress in key growth projects', confident outlook;
that bounced it from its low, since when it has consolidated then started heading north again, prompted by the 9jul08 acquisition of Seal Analytical (earnings enhancing in first year, giving it more exposure to water markets)

2.5yr falling R comes in a little above here, and I'm in ahead of that hoping for it to break (but with a cushion of a little profit if not);
if it can clear the local level at 105p, and make the break of the falling R, 120p looks like the next level up

indicators OK;
also note that part of the rise is off the 90p level that provided support going back to 2002

I like the exposure to water here; not as great an exposure as with AFS, but with other good businesses to back it up

Altium Capital target 150p

[nondom] 18/7/2008 17:20

Watched this for some time. Fuel Cells are dead. Energy storage too far away to call. Dont know enough about Seal; do Porvair baord?

[sleveen] 09/7/2008 15:31

Foorgot to mention today's acquisition; PRV quite upbeat

[sleveen] 09/7/2008 15:28

DD2
Have a look at the interim presentation.

The bipolar plates re fuel cells are on the back burner awaing for further advanced in FC technology (possibly PEMFC put this into google for explanation)

Energy storage device components are in production and being stepped up for 2009.

[domesday2] 24/6/2008 10:56

I am missing something in the latest results? No mention of the great hope - fuel cells. Maybe Stocks reads this bulletin board and gets his strategy from it!
Is the reference to energy storage a mutation of fuel cell technology?
Has Porvair informed its shareholders about what appears to be a very major change in strategic direction?
My apologies to all if I have missed something

[garth] 04/6/2008 14:01

Very similar to DYS - but has seen a far more resiliant shareprice. On 3x the rating commanded by DYS, half the divi, around twice the market cap, 75% of DYS turnover....

[tole] 04/6/2008 12:21

Any thoughts on this one - doesnt seem to have any following on these boards.

[dolphinspirit] 03/10/2007 11:35

I agree, the all the money within the group comes form the PFG, but it is
also the newest sector within the group. How would it look if the group sold
off the original core of the business?
For me I think they need the fuel cell technology to ether start producing
some return for all the money the group has pumped into it, or off load
that sector, then let the rest of the group show what it is really worth.

[domesday2] 03/10/2007 10:53

My concern is not his competent sucessors. My concern is what he saw going on in the rest of the group after recently joining the main board. What would it do to shareholder value to shutdown or sell off evrything except filtration? A tightly focussed sucessful filtration business would then be very attractive to bidders.

[domesday2] 02/10/2007 12:48

So now the driving force behind the only successful part of Porvair has quit. Maybe he doesn't like seeing all his good profits poured down the drain elsewhere. This is not a good sign that all is well, IMHO.

[dolphinspirit] 03/8/2007 08:41

At least the fuel cells devition have something to sell, makes a change
from a product to throw lots of money at.
Would like to see this one go north so I can reclaim some of the losses
it has given me, but can't see that happening for some time.

D

[pawdaw] 02/8/2007 17:45

Well as I said at the time of the results the whole business of the bipolar plates for fuel cells is beginning to look like a solution in search of a problem, so I can understand domesday's view.

[dolphinspirit] 30/7/2007 14:39

GER212 - you are right I was a month out.

[dolphinspirit] 30/7/2007 14:38

GER212 - you are right I was a month out.

[bobdouthwaite] 30/7/2007 12:57

Actually domesday, they said rather more:

Porvair Advanced Materials

Manufacture of the latest generation of bipolar plates for fuel cells continued
throughout the period in Porvair Advanced Materials ("PAM"), where losses
reduced to #528,000 (2006: #779,000). The Group has developed two materials in
PAM: carbon composites for fuel cell components and metallic foam for a range of
applications, principally combustion plates and diesel exhaust components. While
there is always more work to be done, the development cycle for the fuel cell
components is coming to a close. Our materials have been demonstrated to meet
stringent standards and our manufacturing capability is good at current levels
of volume. We are discussing next steps with our principal customer, United
Technologies, as we wait for the market for PEM fuel cells to develop.

Having invested so much in a new technology, why change strategy now?

[domesday2] 30/7/2007 12:47

Here is my interpretation for what its worth. The interim's only comment on fuel cells was "Fuel Cells: manufacturing continued through period".Wow!!!
It appears to me that Porvair continue to pour money into something that is going nowhere whilst making steady progress in filtration. This has been going on for too long now - time for a change in strategy/management.

[gerd212] 27/7/2007 10:58

I think you may have lost a month?....If not can you post the report?