Pressure Technologies Share Discussion Threads

[undervaluedassets] 01/12/2014 08:53

A no news panic based on energy prices.

looks overdone already ...

[ukinvestor220] 01/12/2014 08:38

Prelim RNS is due on Tues 9th, not tomorrow.

From June H1 report:
Overall market conditions for our three divisions, particularly in the oil and gas market, are expected to remain positive for the foreseeable future. The price of Brent crude oil has been relatively stable during the period and the IMF predicts that the world economy will grow by 3.7% during 2014: both are positive market dynamics that encourage investment in new drilling rigs, subsea equipment and services. There has been some softening of drilling rig rates in recent months, primarily due to a supply-demand imbalance with several new rigs being commissioned, coupled with a reduction in spending by some major oil companies. Most market commentators see this as a temporary pause with some forecasting an improvement later this year. The sustained level of enquiries and positive feedback from our major customers lends credence to this view and the Board remains confident in the Group's long-term prospects in this market.

So thye were not anticipating as big a fall in the oil price

[shanklin] 01/12/2014 08:30

RCT2,

I think the results will be fine and the committed order book may also be very decent. The question for me is how much of their forward business could be affected by the fall of price in the PoO.

All IMHO DYOR.

[shaker44] 01/12/2014 08:29

No significant sales yet, but 13% down and rns due tomorrow. Anyone smell a rat- or detect a leak...
....

[rcturner2] 01/12/2014 08:23

So I'm thinking something in those results is not as good as it should be.

[james188] 27/11/2014 19:34

RNS issued this morning. Results out Tuesday 9 December.

[jim150] 26/11/2014 12:50

3rd of December according to Sharescope but website only identifies December 2014

[rcturner2] 24/11/2014 10:05

Do we know the date of the prelims?

[cockerhoop] 11/11/2014 10:10

Suspect it'll be with the Premlims in early December.

[coppertrader] 11/11/2014 08:31

Does anybody know when the next trading statement is due? Last years were released on 23rd october

[cockerhoop] 10/11/2014 16:35

As always John presented very confidently at Mello. As PRES are in a closed period he was particularly tight lipped about 2014 and future prospects - he carried out the presentation with the help of a single slide.

Regards the current oil price weakness I took from the presentation that the large cylinder side of the business is likely to be affected as less new rigs may be ordered but that the O&G Engineering side less so as many of their products are spares to replace worn out components.

I'm sure it'll all be in the outlook statement with the finals.

[penpont] 10/11/2014 16:34

Thanks James188

[james188] 10/11/2014 16:27

I went. The presentation (by John Hayward) was fine, but it was not one of the better attended events that took place (lunchtime slot) and it was less upbeat/glitzy than quite a few of the others. Nothing new was said for anyone who already knows about the shares. I guess that it might have brought the company to the attention of a few new investors. John turned up for the event and stayed on to answer a few questions after the presentation, but PRES did not take a stand, unlike a number of the other companies presenting. As an existing investor, I am assuming that is because they are too busy running the expanding business! Fine by me.

[nurdin] 10/11/2014 16:18

...or perhaps this statement made at the time of the interim results:

''The Group has entered the second-half of the financial year in a strong trading position with its order book 59% ahead of the position at the 28 September 2013 financial year end. This, combined with the general outlook in our key markets, leads the Board to expect revenue and underlying operating profit* for the full year ending 27 September 2014 to exceed current market forecasts and the directors view the future prospects of the business with confidence.''

[penpont] 10/11/2014 15:59

Looks like maybe Mello went well for Pres. Anyone there?

[davidosh] 02/11/2014 20:45

The full three day programme is on the Mello 2014 website under the heading event programme

Pressure Tech are presenting on the Friday

I am totally biased but this three day event is an investor feast that may never be repeated and so I really do think you should grasp the chance to join us in Derby and enjoy every minute of it from morning to midnight as networking will be a huge part of this event.

You can mix with seasoned investors, directors and even top professional fund managers and we never stop learning from each other. If any of you want half price tickets there are 17 left if you use the MELLO-DISCOUNT code in the box where required once you order your tickets. See you all there.

[coppertrader] 02/11/2014 13:41

Key statsMarket capitalisation £98mNo. of shares out 14mNo. of shares floating 13mNo. of common shareholders not statedNo. of employees 191Trading volume (10 day avg.) 0mTurnover £34mProfit before tax £2mEarnings per share 19.23pCashflow per share 27.13pCash per share 35.59p*Correct as at 31 Oct 2014Slater cranks up Pressure stakeSmall and mid-cap veteran Mark Slater has upped his stake in high-pressure cylinder manufacturer Pressure Technologies (PRES).Slater increased his holding in the company from 325,000 shares to 450,000 or 3.13% worth £3.1 million at a share price of 695p, down from a year-high of 773p at the end of July.Pressure Technologies specialises in the design and manufacture of high-pressure oil and gas containment cylinders for the energy and defence industries.Slater, co-founder and chief investment officer of Slater Investments, pursues a growth-at-reasonable value investment philosophy.Even following the recent slip in its share price Pressure is not especially cheap at a price-earnings ratio of 39x but is rapidly growing, either buying out or taking stakes in several international and specialist businesses over the last year.In results for the six months to April, the company reported operating profit up 53% to £2.2 million and revenue up 21% at £19.9 million.

[shanklin] 29/10/2014 07:47

As per the broker comment provided in post 930,

"We have increased our FY15 and FY16 normalised EPS forecasts by 16% to 54.1p and 65.4p. Prospective PERs to September 2015 and 2016 are now just 12.1x and 10x, which in our view significantly undervalue the Group and its prospects"

Each to their own on whether these forecasts are reasonable given the recent drop in the price of oil, but at the current share price this suggests a P/E of circa 13 for the year just started, which would not sound excessive to me.

All IMHO, DYOR.

[rcturner2] 29/10/2014 06:17

I personally would like to top up at a much lower level. I know some people topped up at 600p, I would have probably around 550p. It is very fully valued at the moment. I am not aware of any other news imminent.

[12at] 28/10/2014 22:19

Thank you RCTurner for explaining,
I'll avoid using a spreadbet with this one and ensure a very wide stop.

Are you anticipating any results sooner than December?
Their financial calendar isnt so clear

Would any current holders top=-up at these levels?
Looks like resistance is circa 750

[rcturner2] 28/10/2014 20:38

12at, I think the main risk at this price is that they have to do very well to justify the current price. They are on quite a hefty forward PE multiple. Even a "good" performance going forward could easily see a drop in the share price. I like the company, but I am in at a much lower price (up about 80% at the moment). I won't sell because I am happy to take a long term view, but if they miss those earnings predictions then there is no guarantee that the share price will hold.

[12at] 28/10/2014 18:56

After some brief background reading, there doesnt seem to be any negative news , before i invest my savings can anyone suggest any downsides to investing in PRES?

I think ill have a very wide 100+ points stop if i do

How much higher do you predict PRES can go in say 6 months?

[rcturner2] 24/10/2014 09:19

Thanks jonwig for updating the thread mate.

[shanklin] 22/10/2014 14:24

...or start a new thread.

[cockerhoop] 22/10/2014 13:53

I'm not sure Jonwig is a holder any more - I believe he mentioned that he sold up here a while ago. He does though post on other ADVFN boards so you could make the request to him on those.