Pressure Technologies Share Discussion Threads

[shanklin] 17/2/2016 10:17

So unless PRES get some big orders soon then the broker forecasts are toast.

If this year is anything like the last one, then there will be an update in early June containing text similar to last year's:

"The combination of these factors means the Board now expects that the results for the current and next financial year will be materially lower than market forecasts."

[meijiman] 17/2/2016 10:05

I'm happy to withdraw that (obfuscate) -its just a very dense prose style, Needs reading three times to get the gist of it.

[zoolook] 17/2/2016 09:39

I don't think it is "well crafted to obfuscate". The style and format is the same as last year's statement.

[longshanks] 17/2/2016 09:23

Given the general misery in and around the oil industry, PRES appears far more upbeat and able to withstand this cycle low better than many other businesses. They are sensibly cautious about meeting market expectations which, let's face it, weren't that high anyway and they are being bashed accordingly.

[small crow] 17/2/2016 09:11

ADD: Sells totalling only £14000 "caused" it to reach this morning's low.....

[small crow] 17/2/2016 09:08

Perhaps, but I wouldn't necessarily take no news as bad news. The market will, of course, take any opportunity to mark it down short-term.

[meijiman] 17/2/2016 08:37

Yes its not a good statement at all when you read it carefully. It is well crafted to obfuscate. If you are hoping for things to happen later in the year then I wouldn't count on it. Be interested to hear from anyone at the AGM. The mood music may be more positive.

[pugugly] 17/2/2016 08:03

very much a profit and trading warning imo. If mega orders are not gained then potentiallly (reading between the lines cash flow problems)


" In the short-term the Group is dependent on the timing of receipt of large orders in Cylinders and Alternative Energy to meet market expectations and the third quarter of the financial year will be critical to this, with profits heavily skewed to the second-half.

[rubberbullets] 17/2/2016 07:40

reads like a profit warning

the Group is dependent on the timing of receipt of large orders in Cylinders and Alternative Energy to meet market expectations and the third quarter of the financial year will be critical to this, with profits heavily skewed to the second-half.

[james188] 17/2/2016 07:39

I will also be at the AGM. Interested to hear a bit more about how they are doing in terms of visibility of forward orders on the various divisions, beyond the generic language in today's AGM statement.

[cockerhoop] 16/2/2016 20:28

AGM 11.00am tomorrow..........anyone attending?

Should be an accompanying trading statement issued in the morning.

[coppertrader] 15/2/2016 18:22

CSC responds to oil sector downturn with £1.5M defence sector wins21st January 2016 at 11:14Chesterfield Special Cylinders (CSC) has responded to the downturn in the global oil and gas market by stepping up its operations in the defence sectorChesterfield Special Cylinders (CSC) has responded to the downturn in the global oil and gas market by stepping up its operations in the defence sector, with the latest success being £1.5 million worth of contracts from leading defence suppliers.  Managing director Mick Pinder explains:"We are a well-established supplier into the leading oil and gas producers but took a strategic decision some years ago to dilute our dependency on that sector.  Now that the oil and gas sector has suffered a slump our planning has paid dividends, with our defence sector business going from strength to strength.  We now supply almost every navy around the world with specialist high pressure cylinders for ships and submarines.""Our integrity management business has also established a global reputation and we expect that to be growing throughout 2016.""We are established suppliers to major players such as Honeywell and BAE, so the latest £1.5 million defence order underlines our position in that sector and bodes well for further growth there."CSC has a long and proud tradition of supplying navies and air forces, dating back to Spitfires and Lancasters, and the company is contracted to provide In Service Support, with the Integrity Management Section being the 'go to' team for turnkey solutions for technical services on the Royal Navy's fleet of nuclear submarines and surface ships.

[coppertrader] 15/2/2016 18:21

European Space Agency's rocket programmes upgrade to CSC products for future launches8th February 2016 at 07:33Sheffield-based Chesterfield Special Cylinders (CSC) has won a contract from the European Space Agency and the French Government's National Centre for Space StudiesSheffield-based Chesterfield Special Cylinders (CSC) has won a contract from the European Space Agency and the French Government'sNational Centre for Space Studies to supply high pressure gas cylinders for the future launches of its space rockets, including Ariane 5, Vega and Soyuz.  The specially-designed products will be used in launches from this year onwards.CSC has been contracted by the Italian space sector specialist Telematic Solutions to design and manufacture 15 bespoke 1,000-litre cylinders to provide the necessary helium for pressurisation of tanks implemented on the rocket launcher in French Guiana.CSC's business development manager, Daniel Millard, says the contract is a major milestone for CSC.  "The European space programme is one of the world's leading engineering projects, so obviously every single component has to be 100% reliable.  It is a mark of CSC's reputation that our cylinders will be relied on in this project for some time to come and recognition of our designers' and engineers' skill that CSC has been chosen as a programme partner."The CSC cylinders are due for delivery to French Guiana in Spring 2016.The ESA is the owner of the launch infrastructure for the Ariane 5, Vega and Soyuz launchers. This includes the launcher and satellite preparation buildings, the launch operation facilities and the launcher production facilities for the rockets' solid propellant boosters.

[andrewbaker] 02/2/2016 10:57

Well ... the rise has started. Oil will itself rise after mid-year, so this is maybe an advance signal; and definitely one worth buying (more, for me) into.

[andrewbaker] 22/1/2016 11:05

The oil price stopping exploration and drilling will be adversely affecting PRES, for sure. But that also means that the price has dropped to what can be considered a very low level, such that buying/topping-up should be a rewarding exercise at current levels. It will be a slow rise back up, but a steady one. 220p appears to be the next resistance level on the way north, which should be being challenged by the end of the year, which will be a nice % return on today's price. And once through, 250p next, with over 300p not unreasonable within the next 24 months or so, IMHO.

[albanyvillas] 18/1/2016 12:27

is this one finished?

[cockerhoop] 18/1/2016 12:20

PRES Annual Report just thumped onto my doormap, 20 pages longer than last year.

Mr K. Manley the cover star is smiling..............I'm guessing he's not a shareholder :-)

[pugugly] 07/1/2016 16:07

Continuing to drift back with falling oil prices- Looks as though it may be lower for longer (and hence pressure on PRES magins and orders) unless Middle East blows up - OK for POO if this happens but very bad for nearly all other sectors except coys such as BAE.

anyone seen any recent brokers notes ?

[cerrito] 22/12/2015 21:36

The Annual General Meeting of the Company will be held at Chesterfield Special Cylinders, Meadowhall Rd, Sheffield, South Yorkshire S9 1BT on Wednesday 17 February 2016 at 11am.

[meijiman] 21/12/2015 09:00

Good summary -thanks. When is the AGM date?

[cerrito] 20/12/2015 23:50

Had a canter through the prelims.
Rather than focus on year to year I decided to compare H1 with H2 given that it is only in H2 that we have the full impact of the oil price decline; the facts are that revenue in H2 was £23.5 compared to £32.1 in H1. Operating profit was £6.1m down from £9.6m in H1 and there was a pre tax loss of £0.2m in H2 compared to a gain of £0.9m in the first half.
The biggest reason for the fall in profitability between the two halves was precision machined components where operating profit was £3.3m in H1 and a loss of £0.2m in the second half-but at the same time were as they reported as very cash generative in the second half…need to work that out. Engineered Products-where they have replaced the MD sales split between H1 and H2 was £4.7M /£3.7M and the H1 operating profit turned into a £0.9M operating loss in H2.
Also if someone can doublecheck the maths that would be great
On other points
• I see that they continue to have a current ratio of 2:1 which is excellent
• I note the comment that LFL sales were 24.9% down between the 2 years
• Good to see reduction in %age sales into O&G
• Probably good that as per note 12 there has been a reduction in concentration of debtors
• While I know that we were told about this at the interims still a bit of a shock to see that of the £10.1m they spent on Greenlane tangible assets were only £168k
• Note the issue with HSE on the very unfortunate death..first I had heard of it though would not have expected to have heard of it before
• Put the date of the AGM in my diary though no idea if I will make it-note it is an hour earlier than last year so that much more of an effort for those like me coming from London
• Have no plans to sell and am happy with what I have and do not see myself buying more..if anything my reading is that the price may drift down but as the trading spread generally so great I am not in a mood to try to be too clever..

[small crow] 15/12/2015 12:33

Long-term, the Paris Agreement may give some business to their environmental divisions.

[cockerhoop] 15/12/2015 11:04

I imagine Chris Boxhall of Investors Champion may well attend and provide some commentary including any broker updates in due course.

[meijiman] 15/12/2015 10:28

Thanks zoolook-it was meant to give a small chuckle.
Hopefully someone will be good enough to give a bit of feedback from the meeting as indicated in davidosh post 1529.