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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pressure Technologies Plc | PRES | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 38.50 | 08:00:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 38.50 | 38.50 | 38.50 | 38.50 | 38.50 |
| Industry Sector |
|---|
| INDUSTRIAL ENGINEERING |
| Top Posts |
|---|
Posted at 24/1/2025 14:50 by cerrito The announcement today of the big £9b RR nuclear submarine contract reminded me of my holding in PRES. The statement was as clear as mud as to what it all meant and I am going on the basis that this was all as rehash of news that was in the public domain.I assume we will get the finals soon. Last year they came out in November and in the days gone by we would have had the AGM by now. I appreciate the complications of the PMC sale and change of leadership in the finance function. I note that not all that much trading activity and the few posts here suggests that PRES is out of sight out of mind for many people. I have no inclination to buy or sell. |
Posted at 21/12/2024 00:06 by 40 fathoms It could be due to the government announcing today that it had signed contracts with 3 of the winning bids from the HAR1 round and that the others should follow early in the New Year. There should be a very decent amount of near term work for PRES from some of the projects in the HAR1 round.In addition they have said that HAR2 round, the results of which should be announced soon, has been massively oversubscribed. Not near term but also this week we have had Germany and Norway place a joint order with ThyssenKrupp for another 6 submarines. ThyssenKrupp has historically sourced from Chesterfield. |
Posted at 29/9/2024 21:57 by cerrito Understandable why the sale took so long as Ragu Vamsi, who have progressed in the last20 years far more successfully than PRES, have no other operations in Europe and hence the level of support being provided to them which no doubt took time to negotiate.Yes good that a buyer was found for the whole division at a respectable price. Clearly Chesterfield is too subscale to justify a listing long term and we private investors find ourselves in the not very satisfactory situation as we watch Harwood,Schroders and PG with their 56% combined shareholding decide on the corporate structure going forward. |
Posted at 03/7/2024 15:47 by cerrito The Paul Hill vox markets podcast this week is with PRES non exec Richard Stavely.For me he was quite right to emphasise the huge amount of freehold land next to the motorway. Given his position he was right.to be circumspect about the valuation of CSC. With the run off of the Dreadnought programme need to get overseas defence business.Hydrogen has big potential both with the HARS 1 and 2 programme , but the fish have to be both landed and caught. |
Posted at 23/5/2024 13:15 by aishah Richard Staveley a keynote speaker at Mello today. Maybe mentioned PRES.A bit in this podcast from him as well: |
Posted at 14/5/2024 18:45 by cerrito Thanks for those thoughtful comments 40 fathoms.I need to say that over the last 3 weeks PRES has been out of sight out of mind for me so have just chanced on these comments. |
Posted at 05/4/2024 16:32 by cerrito No surprise that yesterday's fall was accompanied by a high trading volume for PRES, but to put it in context only 150k shares traded. |
Posted at 14/3/2024 08:02 by darrin1471 Contract Placements and Update on Sale of PMC DivisionPressure Technologies plc (AIM: PRES), the specialist engineering group, is pleased to announce that Chesterfield Special Cylinders ("CSC"), its wholly owned subsidiary, has been awarded two major contracts, as expected, in the defence and green energy sectors and maintains its outlook for FY24. The Group also provides an update on the sale of the Precision Machined Components ("PMC") division. BAE Systems Australia Contract CSC has been awarded a major contract to supply air pressure vessels to the Royal Australian Navy's Hunter class frigate program. The contract award by BAE Systems Maritime Australia covers the first batch of three frigates in the program and will underpin the Group's expected global defence order book development in the second half of FY24. Initial manufacturing milestones will commence later this year and pressure vessels are expected to be delivered to the program over the next three years. Pressure vessels manufactured by CSC will form an integral part of safety-critical onboard systems. The Hunter class frigate is based on BAE Systems' established Type 26 Global Combat Ship platform, currently under construction for the UK's Royal Navy. Cheesecake Energy Contract CSC has also been awarded a major contract to supply high-pressure steel cylinder packages to Cheesecake Energy Limited ("CEL"), a UK developer of sustainable thermal and compressed air energy storage systems, for a pilot project funded by the Department for Energy Security & Net Zero. Utilising cylinder packages supplied by CSC, CEL systems will store surplus energy generated by a dedicated solar power plant for use in periods of high energy demand, reducing reliance on fossil fuels and the grid, and lowering carbon emissions. This significant contract award for CSC is for a total of 48 cylinders with initial manufacturing milestones commencing later this year. Update on Sale of PMC As previously announced, the sale process for the PMC division was launched in December 2023 with the release of information to a range of interested parties. Following engagement with potential acquirers, the Board has received a number of non-binding indicative offers for the division. During the next phase of the process, the Board intends to provide selected potential acquirers with additional access to PMC and will invite final offers for the division. The Board continues to target completion of the sale process in the third quarter of FY24 and will provide a further update in due course. |
Posted at 31/1/2024 11:34 by cockerhoop 40 Fathoms,It's a while since I followed PRES closely. I agree the presentation suggests they've rebooted their attempt to become qualified for US Naval contracts. A few years ago PRES suggested the incumbent supplier wasn't a top class or well invested business. With the expansion of the US submarine program there's certainly opportunities (as we've seen with large Naval contracts awarded to GDWN) to become part of the program. I hope they're successful, it would be great news. |
Posted at 24/10/2023 08:41 by cerrito Yes this financing deal is v good business for Harwood and PG but the brutal reality is that it reflects current realities in UK banking. Hopefully it is a short term loan so who wants to hassle of doing the DD for a short term loan? I am going on the basis that it is unsecured. They must have had a big fallout with Lloyds who have security and who could have forced a fire sale of PMC if need be and who presumably are doing nicely thank you providing full banking services including international work to PRES. Need to check the AR when I have the energy to see if Lloyds provide bonding and L/C facilities and if these are affected.I note the following which suggests that the current trading conditions are as good as it will get but no surprise given the run off of defence work. Quote reflected materially improved trading on the prior year, as updated in the Company announcement of 3 October 2023, it is expected to remain at this level in the next 12 months. As a result, and alongside Unquote In terms of the PMC sale, I note the following in the May 23rd Full Year results They were actively pursuing this then and not sure what has changed. Be interesting to see who will buy it and if they sell in one job lot or piece by piece. CSC by itself is not big enough to justify a listing and then the fun and games start. Hopefully Schroders hang around. Quote Improved trading and a stronger market outlook have presented the Group with the potential opportunity to divest Precision Machined Components activities in order to raise funds and support strategic priorities within Chesterfield Special Cylinders. This opportunity is being actively pursued and all options under consideration will seek to deliver optimum shareholder value. Unquote |
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