Pressure Technologies Share Discussion Threads

[my retirement fund] 25/3/2022 14:10

6p spread = absurd

[my retirement fund] 25/3/2022 14:09

Agree it seems market makers are happy to take the shares but not so happy to sell them to us. Either they have been running a short book or have some kind of large buy order to work on for somebody that we don't know about yet.

[riddlerone] 25/3/2022 08:03

Have only recently acquired a position here myself but had to buy with limit orders.You would not expect it to be that difficult as they had quite a large placing some 16 months ago so not as illiquid as many others.

[my retirement fund] 24/3/2022 12:30

Managed to get another purchase in, difficult to buy here, is that normal ? I guess its the normal illiquid aim issue?

[riddlerone] 23/3/2022 14:11

Maybe nothing has changed operationally but what a difference two months have made for the outlook for Oil & Gas,Defence and Hydrogen.Agree with your views re the closed AGM seems a cop out.

[cerrito] 23/3/2022 13:55

Who knows if we will have a TS next week :we have not had one in the past with the AGM and not sure if much has changed since thr Prelims announcement in mid January.
While the IMC presentation was v good, I am very disappointed that in an era when the. theatres and cinemas are open that they have a closed AGM.

[riddlerone] 23/3/2022 13:35

If you haven't seen this its worth a watch.

[riddlerone] 23/3/2022 13:27

No stamp duty on AIM stocks

[my retirement fund] 23/3/2022 13:25

I've taken an initial holding here. I am swayed by the market outlook for UK oil and gas infrastructure as well as well as Defence spending spending. It is a great pity their largest potential market, the EU who are also increasing spending in both markets have been politically and to some extent commercially alienated by the British, particularly because both these key markets traditionally run commercially in tandem with political institutions and governments that carry huge spending sway.

Hydrogen is just a jam tomorrow, icing on the cake story right now.

I was surprised not to be charged any stamp duty. Any particular reason why ?

[riddlerone] 23/3/2022 12:34

With the AGM this time next week I wonder if we will get another update.

[riddlerone] 23/3/2022 12:32

Sector news and one of our customers

[riddlerone] 22/3/2022 11:46

With thanks to Skinny on the ITM thread,

"Specifically, hydrogen mobility will be high on the agenda for Air Liquide in the next three years. Heavy-duty hydrogen mobility in-particular has been outlined as a “high potential” market."

[tresham] 08/3/2022 15:56

Thank you both. Defence should mainly be sold to the UK. Hydrogen storage also looks huge in the UK. So I am not too worried about Brexit problems. The one problem seems to have been management/ Board purchases of business at huge prices. A lot will depend on new management. I might buy after results. When would that be?

[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.