Pressure Technologies Share Discussion Threads

[my retirement fund] 27/9/2022 07:07

It smells of severe miss-management, lets hope those at the top loose their jobs fast, they are very clearly clueless and inept - perhaps they would be better suited to a job within the conservative party !

[andyview] 27/9/2022 07:02

That it is. I’ve taken a hit and bailed for now.

Gla

[longshanks] 27/9/2022 07:02

Just when you thought it couldn't get worse...'However, whilst the second half of the year is expected to show an adjusted operating profit(1) , the recovery has been significantly below that anticipated at the half year and the Group is now expecting to report an adjusted operating loss for the full year.'The outlook is broadly positive but the market is unforgiving to words like 'significantly below'

[robertspc1] 27/9/2022 06:59

Ouch this is going to hurt

[my retirement fund] 08/9/2022 11:59

No windfall tax, hundreds of North Sea licenses approved, great news for them, their order books must be bulging. Market very slow to wake up to it.

[andyview] 08/9/2022 10:08

My buy at 70.48

gla

[andyview] 08/9/2022 10:06

New North Sea Oil licences....good news here?

gla

[cerrito] 20/8/2022 17:27

darrin1471
In 2020 they had a TU on September 30th with some contract announcements and then the end of year TU on November 3.
In 2019 there was no TU in this period.
The way their business is they have few big contracts that warrant a separate RNS.
The main reason for a TU before first half of November is if trading is either materially above or below expectations.
Ref if the wider market will be lower in November I am going on the basis that mid September/mid late October we are going to have a shakeout and doubt if the market will have recovered by September.
In short over the next 10 weeks I currently anticipate that the share price on a mid market basis will be in the 66/76p zone and I have no immediate plans to buy or sell.

[darrin1471] 13/8/2022 11:54

There was no trading updates between June and November in 2021. Anybody expecting any different this year? I can't see anything to excite the share price pre year end. Currently investing with the view that the wider market will be lower in November.

[my retirement fund] 12/8/2022 21:54

Surely share price way overdue some excitement and a good thrust upwards?

[robertspc1] 11/8/2022 11:35

Adding a few. Think CSC will get a lot of attention with hydrogen roll outs starting to finally happen

[my retirement fund] 20/7/2022 18:39

Decent volume for once

[robertspc1] 20/7/2022 10:26

They should follow the Northbridge lead and divest PMC division as Oil and Gas market recovers, investing proceeds into CSC expansion. NBI, now Cresthic shares doubled in 12 months.

[my retirement fund] 20/7/2022 10:16

CSC’s high-pressure cylinders are a critical component for a number of end applications, from high-pressure systems in naval submarines and surface vessels to oxygen cylinders in fighter jets, from the bulk storage of industrial gases to air pressure vessels in floating oil platform motion compensation systems and more recently for hydrogen transport refuelling and energy storage.

[my retirement fund] 20/7/2022 10:14

Would still look cheap north at £1.00

[my retirement fund] 20/7/2022 10:10

Cant blame you. Crazy cheap at present.

[robertspc1] 20/7/2022 09:36

Adding more

[robertspc1] 19/7/2022 11:23

Added a few more ahead of the investor presentation. CSC is a hidden gem

[darrin1471] 13/7/2022 14:49

Investor Presentation 20/07/2022 @10am
Nobody had posted since the RNS

[cerrito] 05/7/2022 15:15

Below are my comments on the interims which got stuck in my pending tray,which explains the delay.
I thought today’s announcement of the sale and leaseback of the Roota facility was sensible as they need all the financial flexibility they need given hopefully increased orders along with inflation and supply chain issues.
That said I am rather mystified as the bank has a debenture on this facility but does not seem to have reduced the amount of the RCF. Perhaps Lloyds feel that after the reduction from £6m to £4m they have enough asset protection…but if so why did they reduce the RCF.
Actually the mention of the Roota factory in Rotherham reminds me of how far we have gone backwards in terms of IR with retail shareholders. About 5 years ago after the AGM at the main Sheffield facility there was the opportunity to go and visit the Roota plant. Fore reasons I cannot remember I did not go on the visit.
At 63/66 more of a buy than a sell but think we are going to have a torrid summer so will do a funk and sit with what I have.
Quote
Got round to having a look at these disappointing figures and reading these one could see why the ex Chairman decided to head for the exit; as discussed let’s hope that the major shareholders so not follow his example.
A bit spooky that at the end of March the £4m bank facility with Lloyds fully drawn as I go on the basis that all this extra work they are taking on will create working capital pressures. Good that they have the £400k tax recoverable and let’s hope the delayed orders produce cash. That said pleasantly surprised that finance costs just £140k. Let’s hope they pass the covenant tests.
Not sure why receivable are more or less 180 days sales and very disappointing that following their very anti social AGM they are not having an IMC style event for these interims so one can find out the reason for this..
My sense is that a good investment to hire a COO especially given all the booby traps that inflation and supply chain issues present for a manufacturing company like them..
I see that the house broker has a revenue forecast of £27.5m ie H2 revenue of £18m a figure they have not had since 2018. This figure is certainly obtainable noting that at end of March CSC had a £12m order book but it does assume going downhill with the wind behind you.
The comments on PMC prospects are encouraging but it is sobering that they do not expect to get profitability(not sure how they define that) till the fourth quarter of calendar 2022. Indeed I see that the house broker has a negligible forecast adjusted PBT for next year ie 22/23.

[darrin1471] 30/6/2022 11:51

Anybody know if the imported steel tariffs renewed today effect CSC products?

A Sheffield manufacturer on the radio said there was no UK manufactured steel in the specification he bought so he was paying a 20% tariff to import from Europe. Most of his sales were exported back to Europe so the tariffs were making his business uncompetitive compared to European suppliers.

[garth] 29/6/2022 07:56

darrin,

Thanks. But I don't recall a warning about the implications being this: "resulted in significantly lower first-half revenue of GBP6.3 million (2021: GBP11.3
million)"

There should have been more transparency about it when the trading statement was issued, IMO. The statement as a whole was upbeat.

But that is, I admit, a personal reading.

Certainly should be a better half. Question hanging over now is whether they really can make up all of that £5m and then some?

G.

[darrin1471] 28/6/2022 20:02

garth:
21/01/2022 Full year results presentation 2021
"OUTLOOK. Strong defence order book, opportunity pipeline going into FY22, with high-value projects and Integrity Management deployments weighted to the second half of the year

[tresham] 28/6/2022 08:13

You can check in but can't check out.
Can't sell!

[my retirement fund] 28/6/2022 07:46

Lot of defence work coming through, oil and gas has yet to take off but no matter how long it takes it has to, we wont be taking any Russian energy no matter what, in it for the long term so say the G7