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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% | 37.50 | 08:00:08 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 37.50 | 36.50 | 37.50 | 37.50 | 37.50 |
| Industry Sector |
|---|
| INDUSTRIAL ENGINEERING |
| Top Posts |
|---|
Posted at 30/1/2024 08:32 by baner Break up value should be well north of 50p/share. Central costs absolutely horrendous - how can the BOD accept this? Huge potential surplus value in the Sheffield property - fantastic location. Good to see mr Staveley now a director - First Class investor who will look after the best interest of all shareholders no doubt. Very sound risk/reward offered at prevailing share price. |
Posted at 06/10/2023 05:08 by arthur_lame_stocks I think you have the wrong P Gyllenhammar. Our one is a value investor that typically buys large stakes in companies trading at a discount to net tangible assets, not the ex Volvo guy. |
Posted at 27/6/2023 08:31 by cerrito Quite a lot to take in.Too bad no IMC type event although FD will say he needs to concentrate on getting new bankers and an auditor. Given the saga of getting the accounts out no real surprise that Grant Thornton resigned and other companies have had issues with them. Still a bit spooky. Also naughty that Grant Thornton resigned more than a month ago and this is the first we have heard of it. Of course given all the BS I noted in the AR about relationships with private investors can one believe a word they say? I hope I can believe the comments that the newish COO had improved the production process. Best thing for me was comment that healthy order situation for PMC continued in April and May. Note that they are talking about full year adjusted Ebitda in the £2.2/£2.5m range. This compares to the Singers May 2023 forecast of adjusted Ebitda of £2.2m for this year. Good for them in being so explicit and good that there has been the improvement. That said, do not wish to be a party popper but minimal profit with buoyant trading conditions. Not really surprised that they could not find buyer /s for PMC given that three units are a bit small and at this time I have no real view one way or the other. Going Concern statement and a reminder that on the Naval contract how a subcontractor delay can throw your cash flow projections hay wire sobering reading. Not sure why Lloyds taking such a hard line but given the current situation with the banks, not an optimal position, even if as they say they have good property assets. Will they need another equity issue? Possible but for me unlikely. All in all as of writing this regret that did not sell at about 42 and I hope that our Swedish Investor does not loose patience. Ps Noted that they used £0. 5m of the fund raise for new milling machinery for PMC. Great but is lack of financing precluding necessary investing in upgrading equipment? |
Posted at 22/6/2023 11:06 by cerrito Have stalled in going through the AR and have only got to page 19.Page 4 Chair's statement He refers to the growing market for hydrogen storage and transportation but does acknowledge that progress in H1 FY23 ie to end March has been slow. Do not wish to be a party pooper but my understanding is that ITM have closed 2 of their hydrogen refuelling stations.-referenced on page 14. Good that PMC returned to profitability (undefined) at end of Q2 ie March and but they have had buoyant market conditions and costs taken out. Reminded me of the long drawn out EY project to come up with financing facilities to replace the Lloyds facilities and we are told to expect that this month. Reminded me that in April 22 they appointed a COO and that IMJ was a sensible move. Ended by saying that they remain confident for meeting FY 23 market expectations without saying what they understand them to be. I note that Singers have revenue forecast for this FY23 as £30m and PBT at £0.2m. Page 6 Interested to read in comment on their relationship with stakeholders, in the shareholder section they say they often host or attend events for new and existing private investors. What BS. They have not had a private shareholder AGM for some time and IMC. Does not encourage one to read the rest of the section Page 10 Reminded me that they on November 15 last year announced the potential opportunity to divest PMC, which they described as non core so perhaps we should get some news soon. In the AR they said progressing as planned-cannot really say any more. On page 11 they talk about cost savings as just have CSC but I continue to ask myself if CSC solo will be big enough to justify a listing. I fret that CSC will be too reliant on the Dreadnought project and hydrogen storage. Page 14 Reminded me that CSC had exposure to the Oil and gas market, especially offshore vessels. Page 16 Discussion on CSC noting that their O&G sales last year were £1m and that they should have got to a good start to the year driven the postponed deals. Page 17 Good to read that end of April closing order book was a record £ 7.6m. Page 19 Given that the increased activity they are talking about will have working capital implications and as of September the Lloyds facility reduces to £ 0.9m good that they had the fund raise. |
Posted at 06/2/2023 21:51 by darrin1471 Thanks Cerrito, I was being a bit lazy as I should know what I am invested in.Looking back they were bought a long time ago and any current valuation is irrelevant to what PRES paid. My main interest is the long term hydrogen play. PMC's oil and gas recovery play was secondary. Hydrogen market looks massive but it is still a few years away. I watched ITM's capital market update webcast on the weekend to get an update on hydrogen. The impression I got was that hydrogen projects have been pushed back 9-12 months. PRES were saying hydrogen would be weighted to H2 23. This could be filling stations or projects ITM are working on. Having listened to ITM there has to be a risk that H2 23 becomes H1 24 or worse. I bought a few PRES 15 months ago and trebled on the fall in September. After the rise this morning I have sold the shares I bought in September and kept the few I bought in 2021. They were not easy to sell. Every sale knocked the price down and there was another seller. Sorry. Contract win announced today should already of been in the numbers of the big shareholders so the 20% jump today was caused by private investors IMO. |
Posted at 30/1/2023 12:45 by darrin1471 Worth noting PRES have a new CFO in Q2Steve Hammell CFO from Sheffield Forgemasters From his Linkedin: I am currently CFO of Sheffield Forgemasters, the heavy engineering specialist serving the defence, nuclear, energy and power generation sectors. Prior to this, I was CFO of ECSC Group plc, an AIM quoted cyber security specialist, and Group Finance Director at eBECS, a high growth, international IT consultancy, that I successfully guided through a divestment process to Computer Sciences Corporation. I am an accomplished finance professional with 20 years deal-making experience, having worked on M&A transactions with a combined value of £1.3 billion whilst at PwC, Yorkshire Bank and Grant Thornton, advising PLC, private equity backed and owner-managed clients. I focus my skills on helping high potential businesses scale-up, by building sustainable finance functions, partnering with business lines to improve operational execution and performance, driving cashflow and by delivering first class communication to shareholders/investo I deploy specialist skills in financial reporting, business intelligence and operational KPIs, budgets/forecasting, management of due diligence processes and finance raising to deliver successful corporate and shareholder events. I qualified as a Chartered Accountant with Arthur Andersen, am a member of the Chartered Institute for Securities & Investment and hold a first class honours degree in Economics & Management from the University of Leeds. |
Posted at 04/12/2022 18:46 by cerrito I have not given PRES much thought in the recent weeks.I saw the result of the GM RNS and that voter turnout was about 60pc.Given the holdings of institutional investors I was expecting it to be a bit higher. I also saw the links to the Chesterfield and PMC websites. The PMC one does not seem to have been updated recently as they had a big thing on Covid precautions and talked about Quadscot which I thought had long been closed. The Chesterfield one had no news section-probably sensible unless constantly updated- and seemed functional but not inspiring. They had a careers section and no surprise looking for a wide range of people but not very enticing. |
Posted at 16/11/2022 18:34 by cerrito I am feeling comfortable with my holding with the 3 big investors taking 6.6m of the 7.6m shares raised. They have a pretty good shareholder register now.Surprised that given the logistical hurdles that so much raised from the retail offer. I see in the factual note that Singer put out they said the Prelims come out on December 1 which would be good bearing in mind on the last 2 years it had been in January.I would not expect PRES to get their Prelims out in 2 months. I guess Lloyds will be happy when the shares are issued and the debt owing to them is paid down. |
Posted at 07/10/2022 03:13 by 40 fathoms This link will take you to the section in recent investor presentation by Rockwood Capital/Harwood who hold @13.4 % of PRES where they provide some thoughts around their thinking and outlook for the business. They seem to suggest they favour a sale of PMC and eventually a privatisation of the business. It would suggest they are not sellers at this point.Earlier in the video they show (and this is clearly post the fall in PRES shareprice given the market cap they have used)that they expect PRES to have an EV/EBITDA of 5x for FY2023. |
Posted at 04/10/2022 23:41 by 40 fathoms @Cerrito - Yes it all gets very interesting with the increasing Peter Gyllenhammars stake.The shareholder structure is such that a takeover does not look straightforward. With respect to a traditional offer both Harwood and Schroders have blocking stakes, if it was done via a scheme of arrangement Schroders has a blocking position and Harwood is close enough that they would only need to convince a handful of other investors to also be in that position. That said I am sure they are both open to sensible offers. |
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