Premier Technical Services Share Discussion Threads

[cockerhoop] 21/2/2019 08:07

Net Debt at 30th June 18 contained a £4.2 credit from R Teasdale for his share option tax bill which was then paid out to HMRC in Q3 so underlying net debt was £16.0m at the end of June.

[eezymunny] 21/2/2019 08:02

So net debt was 11.8m 30 June 18. In H2 20m raised and a net 12m spent on acquistions ie net 9m came in. Yet debt at 31/12/18 was 11.9m.

Are my sums wrong or is it a WTF!!!!!???

[rivaldo] 15/2/2019 09:08

Moving up nicely again.

This is looking more and more like it was a particularly poorly carried out institutional disposal, perhaps simply getting the rump of a holding off the books without reference to price.

[buffetteer] 14/2/2019 16:08

I agree that shares should be taken off the earnings BUT no-one does ..and you have to compare apples with apples don’t you ???

[cockerhoop] 14/2/2019 15:55

Buffetteer,

Bizarrely with your name but you don't appear to have read Warren's thoughts on share based payments :-) He calls earnings including these payments 'phony'!

But each to their own.

[buffetteer] 14/2/2019 15:39

These are the brokers adjusted numbers -a consistent methodology for all the businesses i come across so ill take them as being the right ones -we could argue all day about what to include or exclude . Management own 40m shares so their skin is in the game no matter what small proportion they’ve sold along the way .

[cockerhoop] 14/2/2019 15:04

Buffetteer,

That's not quite correct is it? Adjusted EPS also includes restructuring costs, contingent consideration and substantial Share Based Payments - the latter of which are clearly a cost to shareholders and should be removed from earnings calculations.

[rivaldo] 14/2/2019 13:18

Exactly Buffetteer.

Hopefully the decent volumes today and the bounce indicate the exit of the seller.

[buffetteer] 14/2/2019 10:59

Cc2014
You need to read a little deeper .
If you remove the amortisation of acquired intangibles (they buy businesses each year)then the earnings look like the following ;
2p 12/15
7.63p 12/16
9.73p 12/17
E11.9p 12/18
E13.6p 12/19 .
These have all been revised UPWARDS during the year & are now trading on under 8x this year earnings -crazy .
The return on capital is c20% & the profit margins=21%.
This is a high quality niche business that has been unfairly smashed due to Intereseve troubles and a selling institution .

[cc2014] 14/2/2019 10:34

Market Cap £131m

2017 revenue £53m
2017 profit £1.8m
And a balance sheet which is very difficult to get a grip on.

In order to support a market cap of £131m on a P/E of 10 (which is open to your own views) would seem to require an annual profit of around £15m

[riverman77] 13/2/2019 21:09

Thanks fizzypop but couldn't find anything of any relevance (probably not looking in the right place!)

[wednesday6] 13/2/2019 21:06

[phone]

NEWS

PTSG FEATURES IN FEBRUARY’S PFM MAGAZINE

Premier Technical Services Group PLC (PTSG) features on the cover of the latest edition (February 2019) of PFM (Premier and Facilities Management) – one of the leading journals reporting on the facilities management industry.

A double-page spread is also devoted to the Group’s approach to compliance. A huge quantum of PTSG’s work involves delivering compliance work for its 20,000 customers across 200,000 assets UK-wide. Its engineers routinely carry out specialist services to ensure buildings are compliant with legislation in the areas of fire safety and suppression, electrical services and access and safety in its various forms.

the article covers all areas of compliance and talks about how compliant buildings are not only safer for users, but that they also operate more efficiently – adding longer-term financial value for building owners and operators.

PTSG has become a regular in the pages of PFM magazine. The Group’s rigorous, multi-award-winning approach to safety is regularly documented, and its engineers have great experience and expertise in working at height, as well as delivering best-in-class training sessions for clients.

Read the feature online here: 

ACCESS & SAFETY

Safety TestingSafety InstallationCradle MaintenanceCradle Installation

ELECTRICAL SERVICES

Lightning ProtectionSurge ProtectionSpecialist EarthingElectrical Testing

BUILDING ACCESS SPECIALISTS

Steeplejack ServicesHigh-Level InstallationsHigh-Level ReparationHigh-Level Cleaning

FIRE SOLUTIONS

Dry RisersSprinkler SystemsFire Alarm/Emergency LightingFire Extinguishers

ACCREDITATIONS

                                  

                                  

[swiss paul] 13/2/2019 20:45

so for us who aren't in the twitterarti - wossit say?

[fizzypop] 13/2/2019 20:10

riverman77 - check out the #PTSG hashtag on Twitter.

[riverman77] 13/2/2019 19:50

Down more than 25% in just over a week. The sort of move you would expect after a major profit warning, but can't see anything to justify this. Would normally top up in these situations, but don't have a great deal of conviction in the company or sector, so will just sit tight until it recovers.

[fizzypop] 13/2/2019 17:14

This has turned into a rout with another 5% fall today. An illiquid stock where low volumes can seriously move the share price in either direction. Where next? well the sellers have the reins and we won't know when the bottom is in until the share price turns back up as sentiment changes. We have 6 weeks to Brexit which may provide an opportunity to pick up cheap stock here and elsewhere so harbour your cash.
No news until H2 results.
Good luck to holders

[rivaldo] 12/2/2019 14:34

Only three months ago a number of institutional investors were happy to give PTSG £20m at 157.5p to pay for the Guardian and Trinity acquisitions.

I suspect they're looking for quite a bit more than 200p over time.

[rickstar1] 12/2/2019 14:28

Thanks for that Riverman77.

Do you guys believe they will go back up to the 2.00p mark?

[basem1] 12/2/2019 14:24

Guys you should have been asking yourself this at around the 138 level when support went, not waiting until now. It feels too late to sell now. My strategy is as soon as something becomes uncomfortable sell straightaway. You can always buy back if you get it wrong by a couple of pence. It is a falling knife at present so I would wait for it to stabilise before buying any no matter how cheap it looks

[riverman77] 12/2/2019 13:51

I think at least part of this is the company being revalued to a rating more typical of the sector - it was on a multiple of 16 earlier last year which wasn clearly too rich. There is also no doubt a seller in the background. I was very close to selling yesterday, but not after today's further fall - will just hold on now, but fear could be a long wait to recover - luckily only a small position.

[rickstar1] 12/2/2019 13:25

What is the latest with the drop?

I have shares that I bought at 75p - Any advice on cashing out or staying patient?

[basem1] 12/2/2019 11:31

Wait for the trend to change riverman then top up. It is too late to sell. That is my advice FWIW.

[riverman77] 12/2/2019 10:27

Whatever the reason this seems to be in freefall right now - debating whether to top up or just get out!