Porvair Share Discussion Threads

[dolphinspirit] 13/2/2012 12:59

No worries Whymps2

[whymps2] 13/2/2012 12:19

Thanks Dolphin

[petersinthemarket] 13/2/2012 11:16

>>Stonethecrow - ''best share on the market'' is quite a claim! Would you be kind enough to put a few numbers to that and explain why you see it this way.

[dolphinspirit] 13/2/2012 11:14

I think £1.50 at best because I've been looking at this share for 9 years and
know what it has done in the past. I also know the company very well as I've
worked for it for over 20 years. Thus I will stick to my original statement

[stonethecrow] 10/2/2012 13:40

BECAUSE HE'S AN IDIOT!!!!!!!!!!!
BEST SHARE ON MARKETS AND YOU WANT TOO SELL!!!!!
MAYBE YOU SHOULD START DRINKING!!!!

[whymps2] 10/2/2012 13:37

Dolphin why do you think 1.50 at best?

[dolphinspirit] 10/2/2012 10:14

Stone, what are you drinking???
The best you are going to get out of this one is £1.50 and that is if
the markets sort themselves out.
Personally I was hopping to hit the £1.30 mark before taking my LOSSES.

D

[stonethecrow] 09/2/2012 16:28

Ahhhhh!!!

Best if you all sell your holding.
Best share on markets will double in value.
Wait for it you might just make some profits.
12 months time $2 for me.
Children!!!!!!!

[gleach23] 09/2/2012 09:08

me too dolphin...am still hoping/expecting to test last year's highs but it's tempting to try to trade it at this point

[dolphinspirit] 09/2/2012 08:50

I was hoping this would go a bit higher before topping out.

[pedr01] 06/2/2012 15:58

UPDATED CONSENSUS

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 5.05 8.24 2.61 6.43 10.73 3.20
1 Month Change 0.51 1.01 0.11 2.33 4.23 0.50
3 Month Change 0.51 1.01 0.11 2.33 4.23 0.50

I am tempted to hold based on 2103 forecast ...

[gargoyle2] 06/2/2012 03:05

Both the CEO and the CFO have a load of options that, until recently, have been underwater (i.e. the exercise price is more than the share price, so not worth exercising) or that haven't been exercisable. For example, they have a load that are exercisable at 131p and 138p (see the 2010 annual report). However, they both exercised options over 11,750 shares in October (paying 80p to exercise them, at a time when the share price was around 85p) -- the options had only become exercisable a couple of days before. They both have a load (200k CEO, 100k CFO) that only became exercisable -- at 69.5p -- on 31 January this year. It wouldn't surprise me to see them start to take advantage of those pretty soon.

[bergster56] 05/2/2012 16:56

that's not a huge stake in the company for a CEO who's been there for 10ish years?

[gargoyle2] 05/2/2012 02:43

CEO and FD have around 131k and 65k shares respecively, as well as around 900k and 600k options. Most of the options are exercisable at prices below the current market price.

[bergster56] 04/2/2012 23:36

does anyone know the current director/board level percentage stakes in the company?

[gargoyle2] 04/2/2012 05:09

STC's link -- David Schwartz in the FT. Should have an effect on Monday.

By contrast, I was impressed with long-time favourite Porvair's results. Pre-tax profits rose by 44 per cent, beating analysts' forecasts by a tidy sum. The company eliminated most of its long-term debt and increased its dividend. Even better, the first two months of the new financial year are running ahead of last year and the company expects further growth to come. It also reported a fresh long-term contract worth $25m.

Brokers quickly boosted their profit forecasts. But experience teaches me that Porvair makes a habit of providing conservative guidance to City analysts and subsequently beating those figures. I would not be surprised to see profits for the full year exceed analyst's recent upgrades once again.

I had wondered if it was time to take some profits. But given last week's report, and assuming the
EU financial crisis does not worsen, I think Porvair shares might challenge January 2011's high watermark, 20 per cent above current levels.

[stonethecrow] 03/2/2012 22:22

http://www.ft.com/cms/s/2/4b6c2e4a-4dc2-11e1-b96c-00144feabdc0.html#ixzz1lMNns

[petersinthemarket] 03/2/2012 20:13

Ref queries on a large prv shareholder.

The first para here is my notes when I was a prv holder in 2009:
20090601: Italian entrepreneur, Giorgio Girondi, has substantially increased his shareholding in King's Lynn filtration and environmental technology group, Porvair, to 22% following a £5.3 million cash transaction. Girondi owns the entire issued share capital of GGG S.p.A., which acquired 8.75 million Porvair shares, equivalent to approximately 20.8 per cent of its issued share capital, at a price of 60p per share. GGG now holds a total of 9.2m ordinary shares of Porvair. Girondi is predominantly focused on automotive filters and founded Ufi Filters, a group with around €200m revenues and worldwide production and distribution platforms. He was a pioneer in Italy in understanding and fully capturing globalisation trends and his companies were among the first in Italy to delocalise manufacturing facilities to Far East.

The second para here is recent; apologies I lost the date and link:
Mr. Giorgio Girondi is the Founder of Ufi Filters. He is an Italian entrepreneur mainly active in the manufacturing of automotive filters. Mr. Girondi was a pioneer in Italy in understanding and fully capturing globalization trends. His companies were among the first in Italy to delocalize manufacturing facilities into the Far East. He is a Member of Advisory Board at BlueGem Capital Partners LLP. Mr. Girondi is currently a Member of the Board of Directors of Ufi Filters Group's companies and Efibanca. He was selected for the final round of the Ernst & Young "Italian Businessman of the year" award in 2004 and in 2005. Mr. Girondi graduated in Business Administration at Ca' Foscari University, Venice, in 1981.

Should be enough clues in there for anyone to find him.
Absolutely masses of stuff via google.
As far as I know, no-one knows his long term aims.
best of luck

[lurki0] 02/2/2012 20:55

50 and 200 day MA about to cross. A highly promising development. An unmistakeable buy signal. DYOR etc

[tratante] 02/2/2012 00:24

IC were wrong about 10 year deal with Boeing, it's 15 years!

[dolphinspirit] 01/2/2012 14:09

I hope Daniel Stewart.Price target 159p is a good one, I could do with
a cash injection.

[shauney2] 01/2/2012 12:54

I can feel the crows circling overhead;-)

An upgrade from Daniel Stewart.Price target 159p


From GCI
PRV(105p) View from GCI(Buy):-

PORVAIR

BUY

31/01/2012 Miles Nolan

Over the last four years, filtration expert PORVAIR (PRV) has generated £30m in cash from its operations and notched up annual sales growth of 11%.

The fully listed firm sells half its kit into the US market, but key to its success is the level of knowledge it has amassed in developing bespoke products for its customers. Proof of which is the recent award of a 15-year contract worth $25m to supply coolant filters on the Boeing 787 - far and away its largest deal to date. The new business follows on from a chunky POSCO gasification contract worth $10-15m in sales over the next two years.

In the year to November, sales edged ahead 7% to £68.1m as pre-tax profits jumped 44% to £4.5m. Porvair remains highly cash generative, enabling net debt to almost halve to £5.1m, which compares to £13.9m just two years ago. It also has plenty of bank headroom if the right acquisitions comes along.

The largest division is microfiltration, here sales increased 4% to £42.2m, and though operating profits were up just £100,000 to £5.6m, this includes a £500,000 charge following the closure of its Poole facility. Demand in the aerospace sector (its largest market) remains strong, with Porvair supplying filters to most commercial airframes.

In metals filtration, profits trebled to £1.5m, largely driven by margin improvement from the introduction of new patented products. The water analysis arm had a tough time, but Porvair argues it is sub-scale so is keen to target acquisitions and sees plenty of opportunities for growth.

Speaking to Growth Company Investor chief executive Ben Stocks said 'we operate in attractive market sectors and are well placed to win new aerospace and nuclear work.' House broker Peel hunt has upgraded its 2012 forecasts and now predicts pre-tax profits of £4.5m and EPS of 7.2p.

This is a quality, niche business and deserves its rating. BUY.