Pressure Technologies Share Discussion Threads

[darrin1471] 08/3/2022 15:00

tresham. I hold a small amount of PRES mainly on the hope of Hydrogen but also on the back of an O&G recovery. Hydrogen appears to be on track and an exciting opportunity still.
O&G and defence looks on the up due to Ukraine. The ongoing headwinds are inflation, energy, commodities and the supply chain. When/if PRES turns the corner the upside is significant. If hydrogen goes to plan then PRES could then be revalued as a growth stock.
Continue to hold very small amount, intend to add at some point.

[darrin1471] 08/3/2022 14:57

mrf. Your views are blinded by Brexit. I voted remain, tried to understand why the majority voted leave. Now I accept we are where we are and make the most of it.

[my retirement fund] 08/3/2022 14:01

The stuff it makes is great but it really needs to be centred in a dynamic market like Europe, eg Germany or Poland for example. This sort of business in a post brexit third country is just a backyard business now and always will be, it will simply have a long term solvency struggle now. Its not investable if that's reason for your post.

[tresham] 08/3/2022 13:46

Pressure Technologies seems to have everything: Defence, Hydrogen storage – renewable green energy, and oil technology. Anyone know why the share price continues falling? Perhaps just because it is such a small company?

[zingaro] 01/3/2022 13:19

I agree Cerrito - look at the upward movement of the hydrogen stocks in the last few days.

[cerrito] 28/2/2022 14:39

On a very high macro level, the fallout of the Ukraine invasion will increase activity in the PrES markets of oil/gas, defence and hydrogen storage.

[cerrito] 02/2/2022 18:16

While the reduction announced to day of the holding of Miton UK MicroCap Trust plc is reasonably modest we need to remember that as per the website as at 31.12.21 the Premier Miton Group had 8.3% so there may be further selling...or it may have happened.
Incidentally I thought of PRES this morning and more especially PMC when I read that despite the buoyant oil price Chevron plans Capex this year of US$15b compared to $20b in 2019 and for Exxon the capex will be $21/24bn compared to original planned capex in 2022 of US$30/35bn.Just shows that even with Brent at 90 odd, money is not being spent like confetti by the oil undustry as it was 5/7 years ago when PRES made all the acquisitions at the top of the market.

[40 fathoms] 25/1/2022 00:55

Cerrito, I agree the CEO and CFO came across very well. Regarding the Australian Barracuda submarine contract cancellation, given both BAe and Rolls Royce are existing customers of Chesterfield and will be involved in the construction of the new boats, it seems that end market may still be available to us.

I also think, if in the future, they need to tap the market for working capital purposes which is to service a visible and growing order book that would be reasonably well received by the market. Lastly, I also assume they might have at the back of their mind a sale of the PMC division but in order to maximise exit value they want to polish it up a bit first. As the hydrogen road map becomes clearer I for one can see value exiting the PMC business I think the market would better reward a business driven primarily by hydrogen and military spending.

[zingaro] 24/1/2022 20:00

Thanks for that report on the IMC presentation.

[cerrito] 24/1/2022 19:40

I thought management came over very well in the IMC presentation and gave a much clearer expose of the current status of the business than previous management did. Clearly the current CEO and the about to depart Chairman run a far tighter ship
No surprise that they were upbeat on hydrogen and interesting that they do not see really big growth till 2025.
Was reminded that they work with the French Naval Group on the barracuda subs. Probably it was such early days in the French/Australian contract that they were not impacted too much by their cancellation.
Interested that they reckon it will take 2/3 years for O&G sales to get to the level of 2019.
Lloyds clearly not terribly comfortable ie they had the Chesterfield factory revalued. I see that RCF now £4m even though September drawings under it were £4.8m. If PMC do get more orders not clear where the working capital will come from.
Going concern statement reasonably robust and should be able to get through the next 2 years without an equity issue.
Not sure if I will buy more as I have more than is good for me and certainly more that is good for me in the hydrogen sector.
I reminded myself that Harwood has 13pc and no doubt they will keep management on their toes.

[cerrito] 18/1/2022 09:10

Yes all good but I have not been inspired to add more and will need to work out what happened with the operating cash flow in the second half.
Well done to those who bought in the last few weeks in the sixties.
There should be good operational gearing in PMC if as and when their customers move from making optimistic noises to placing orders.
For me the issue continues to be an insti loosing patience and/or not liking the new Chairman.

[zingaro] 18/1/2022 08:12

Yes, looks good for the future, esp hydrogen cylinders.

[40 fathoms] 18/1/2022 07:23

Pleased with todays results. 2021 is in line with the expectations but the outlook is very positive and I appreciate some of the colour given around defence and hydrogen. All in all very happy.

[cerrito] 10/12/2021 07:45

Grant Thornton are also delaying the publication of results at HAYD.
Luckily at PrES there are no time constraints.

[the deacon] 17/11/2021 14:05

Good research note out today from VSA. 175p target

[darrin1471] 16/11/2021 17:33

Bought a few today after reading up over the weekend.
A recovery play on oil and gas prices feeding though to orders for parts and projects over the next 18 months.
First became aware of PRES as a supplier to hydrogen industry but £200k hydrogen turnover was not of interest.
Trading update hydrogen GBP2.2 million vs GBP0.2 million in 2020
Hydrogen is now 10% of turnover
Tier one hydrogen companies share prices have exploded (sorry)
ITM power in 2021 revenue £4.2m loss £27m net assets £197m market cap £3000m (roughly)
ITM production capacity going 0.2GW to 5GW by end of 2024.
That a lot of storage needed.

[cerrito] 12/11/2021 09:44

Interesting now that we have Christopher Mills and |Harwood on the register as they do not take prisoners.
I see myself as going back to sleep on PRES till December 15th , Good for them that this update was very comprehensive.

[cerrito] 12/11/2021 08:30

Good performance by Chesterfield all tbings considered
Given the recent strength in oil and gas prices I would have hoped they would have been more upbeat about PMC. Reading the update I asked myself if they would do better to close / sell PMC
I note Sir Roy will be leaving. A pity but he had done what he had to do and probably not realistic that he hangs around.
This TU does not inspire me to buy or sell.

[rambutan2] 11/11/2021 15:56

It will have gone across to Harwood, who are managing the wind down over the next 2yrs, and for free. But as they took on the previous manager of GSH, who clearly likes the stocks, I wouldn't worry too much about a sell down in PRES. At least at this price. Imho

[cerrito] 11/11/2021 11:18

Noted Simon Gordon.
I see that the quoted company is hale and hearty but we are talking here about the LP.
Yes you are right riddler one and I had not noticed that. If they had sold someone would have bought them probably provoking a RNS.
I guess PRES will soon update the website.

[riddlerone] 10/11/2021 11:28

It doesn't say its a disposal

Other (please specify) (iii) : Change in Manager for Gresham House X
Strategic plc
------------------
3. Details of person subject to the notification obligation (iv)
Name Gresham House Asset Management Limited
City and country of registered office London, UK
(if applicable)
4. Full name of shareholder(s) (if different from 3.) (v)
Name Strategic Public Equity Fund LP
Gresham House plc

[simon gordon] 10/11/2021 10:44

Cerrito,

GSH are winding up their fund, so the remaining 4% will have to be sold.

[cerrito] 10/11/2021 10:39

Pleasantly surprised that the share price has been so resilient given that Gresham House have gone from 18% to 4%.
What does confuse me is that per Digital Look figures the trading volumes reported have been very low..ie 34k on Nov 4 and 22k on Nov 5-the date the threshold was reached.
Would be interested in any comments people have on this.

[cerrito] 24/9/2021 14:56

I note the consistent drift down in the share price over the recent weeks.
Not sure if Premier Miton looking to reduce. I see volume on Wednesday and Thursday was higher than normal at 60kplus and on Tuesday was 49k but pretty small beer given 31m shares odd issued.
On the underlying business one would think that current oil and gas prices may give a boost however small to PMC. The Australia sub deal is a bit inconvenient but of limited significance.
I guess you cannot blame people for becoming bored.
I need to decide if I buy more.

[dibbs] 23/7/2021 21:50

Interest growing, money looking for ways into Hydrogen plays could help PRES?