Share Name Share Symbol Market Type Share ISIN Share Description
Pressure Technologies Plc LSE:PRES London Ordinary Share GB00B1XFKR57 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00 -1.02% 97.00 7,855 09:28:51
Bid Price Offer Price High Price Low Price Open Price
95.00 99.00 98.00 97.00 98.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 32.25 -3.12 -28.00 18
Last Trade Time Trade Type Trade Size Trade Price Currency
12:27:19 O 5,824 95.51 GBX

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Date Time Title Posts
27/11/201914:16PRESSURE TECHNOLOGIES:::Sheffield Steel2,010
10/6/201814:04Pressure (PRES) One to Watch on Monday -
24/2/201616:19Next US President 2016-
23/2/201223:13'Next US President' betting thread.3
10/2/200916:53Pressure Technologies - big opportunity in biogas-

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Pressure Technologies (PRES) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
12:27:2095.515,8245,562.50O
10:02:3998.601,2001,183.20O
09:16:4195.77831795.85O
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Pressure Technologies (PRES) Top Chat Posts

DateSubject
12/12/2019
08:20
Pressure Technologies Daily Update: Pressure Technologies Plc is listed in the Industrial Engineering sector of the London Stock Exchange with ticker PRES. The last closing price for Pressure Technologies was 98p.
Pressure Technologies Plc has a 4 week average price of 85p and a 12 week average price of 85p.
The 1 year high share price is 137.50p while the 1 year low share price is currently 73.50p.
There are currently 18,595,165 shares in issue and the average daily traded volume is 6,950 shares. The market capitalisation of Pressure Technologies Plc is £18,037,310.05.
05/6/2019
14:19
cerrito: For the record, this was in yesterday#s Telegraph Questor quote This column’s speculative look at Pressure Technologies has yet to make any waves but shares in the firm are back to our entry point and there could still be scope for improvement. Management is in the process of slimming down the company’s range of activities with the aim of leaving two core operations – cylinders and precision machined components – for clients in the oil and gas, defence and industrial gases sectors.£ Read Questor’s rules of investment before you follow our tips One unit, Hydratron, has already been sold to help cut debt. Another, the alternative energy operation, is on the block and a sale to Canada’s Creation Capital is tantalisingly within reach. Late last month Pressure Tech announced that Creation had received sufficient interest in a private placement designed to raise the cash to fund the purchase. Details of the deal will hopefully come through soon, in the next step of Pressure Technologies’ turnaround. There is still a long way to go as the tiny company – its market value is just £20m – has just racked up three years of losses and the same spell off the dividend list. But this business has in the past made double-digit operating margins and the shares could look very cheap if earnings even start to move towards those levels. It remains a high-risk punt for patient investors. Questor says: hold Ticker: PRES Share price at close: 109p
23/5/2019
21:43
jeevsje: I checked as well after the perky share price action. MMs could be trying to entice new buyers before any significant news. I reckon market will punish them for the new contractual terms of Greenlane sale. The recent fiasco around the placing says a lot about the soon to be new leadership team at Greenlane. Time will tell but I strongly believe PRES are doing a huge mistake handing over Greenlane to Creation Cap.
17/2/2019
22:07
cerrito: A delayed AGM report. Only about six shareholders at the AGM- a significant reduction from years gone by when it was standing room only; everyone was welcoming and the whole thing took two hours . Given the investment being made in the Chesterfield plant, no factory tour. I did not get much hard insight into what was going on which begs the question of why I made the for me long trip; that said the meeting was literally on the factory floor and there was a chance to meet middle and senior management so one could get a better feel than if it had been in some City Board/ conference room. Routine business of the AGM processed very quickly. 8.2 m shares voted out of the 18.6m dates voted- a turnout rate of 44% rather low given the amount of institutions; hopefully reflects that they have no major issues rather than that they have given up on it as an investment. All 99pc+ in favour except the premption rights one where it was 93pc. We then had a presentation by the new CEO. He seems very people focused; in the q&a, clear that as can be expected the CFO had a much better command of the nuts and bolts of the business. He has spent his early months getting to know the business. Clearly feels room for organic growth and I was pleased that this was his focus rather than acquisitions. Would not be drawn on what he has concluded and said that would be disclosed when he makes the presentation on the interims.Made suitable noises about increased order intake but once again proof of the pudding will be in the Interims. No questions in the open session on the biggest elephant in the room- the HSE investigation. Directors not giving away much off air and I am not much the wiser on timing and indeed how PRES will play this. No discussion in open meeting on the status of the Greenlane sale, although of course there was a pretty clear RNS on Feb 1. Interesting that more than one Director ascribed the share price weakness to uncertainty on the deal. I understand that there are no obvious trip wires but it would be good when it is put to bed. No discussion either in the meeting on BREXIT ; the AR says it will have limited impact on the Group and this is my understanding from when the subject has come up in previous years. I had no discussion on the banking arrangements. Even if the Greenlane sale does not go through, the situation seems just about comfortable; that said I did goof as did not raise the following. They have a £15m line at LIBOR plus 2. Their average all in cost in the last FY would have been around 2.77pc: their total interest cost was £377k which suggests that their average utilisation was £13.6 m- uncomfortably high. Of course on the balance sheet days they did have large cash balances but we do not know how typical this is. Certainly interest income of only £6k on the year would suggest that average cash balances are not very high. I note the Going Concern statement was robust. Off air I understood that the previous CEO had been eased out given differences about future direction. As per page21 of the AR, there were some severance payments. This move-on balance- seems sensible as I thought he showed some ennui at the last AGM and good to have a new energy. He still has 5 pc+ of the shares. Of course we need to see how the new one turns out. As ever with PRES, the value of goodwill is key. Following the Hydraton write offs Goodwill/ intangibles continue to dominate the balance sheet even if less than in previous years but is still 40% of total assets and 75% of net worth. I take some comfort from the fact that the Auditors focus on this in their Audit letter and the discount rate at 12.5 pc is appropriately high. Good that the Greenlane sale will not generate a further write off. We had a good discussion on the defence market and their relationship with the French group Naval (and see following article in Tuesday’s FT https://www.ft.com/content/a649821e-2da2-11e9-8744-e7016697f225) and their German equivalent as well of course the Dreadnought programme and also over the longer term hydrogen storage. Sales by Chesterfield to the O&G sector are likely to continue at reduced rates in the coming years; were told that 21 drill ships have been built and never used. Last year#’s sales were £1.5m which while double that of the previous year was down from £6.3m in 2015. The share price has softened since the AGM. I assume there is not much liquidity given the concentrated shareholder base and the company is rather out of sight and out of mind. Closing the Greenlane sale will help; a not too unsatisfactory resolution of the HSE case is required to lift the cloud and that can drag on perhaps till next year. What to me will be important are the Interims, which have come out in mid June in the last two years.Three things; we will be able to quantify how the improved order book of today and the last months has translated into cash generation and profits. We will get clarity on where the new CEO wants to take the company; and we should get some insights into how much if any the Hydration pay out will be. With 18.6 m shares the marcap is currently £15 or FWIW to put it another way twice the Tangible Net Worth of the Company. It makes one wonder about it being acquired. I have never thought of this before but once Greenlane had gone, the business will be much cleaner. That said given the shareholder base I would say possible but unlikely; even though private equity has plenty of firepower I do not see the logic. Perhaps there could be another industrial group who could make better use of its assets. From my understanding, I do not see closing the various plants as a goer given both the specialized machinery and more important the skilled work force and thus the great disruption it would cause. Any discussion of share price movements has to be on the basis that if any large holder wants to divest all bets are off.
09/1/2019
20:13
cerrito: Note that this appeared in yesterday's Telegraph Questor quote Update: Pressure Technologies Our highly risky turnaround call in August on micro-cap stock Pressure Technologies is off to a shaky start but the precision engineering firm is making some progress. The proposed sale of its biogas operation for £11.1m is a big step forward as it will simplify the business and help reduce its £6.7m net debt to further cut risk. Note also how the transaction price compares with the group’s £17.2m market value. Full-year results last month did show the expected £3.1m loss but with orders at the core manufacturing operations up by between 36pc and 54pc year on year it may be that the worst is behind the firm. The oil and gas industry is leading the way here, as hoped, although the latest slide in crude prices must be watched. This turnaround story is taking longer than expected but if earnings do hit bottom this year the shares could start to roll. Questor says: hold Ticker: PRES Share price at close: 95p
06/10/2018
19:52
cerrito: I have more of these than are good for me; that said I do notice that the recent increase in the oil price has done nothing for the share price. I checked to see if based on historical precedent we are likely to get a trading update. This time last year we had the placing which provided one;we had one on August 30 2016 and November 10 2015 so your guess is as good as mine if and when we will get one. Finals came out Dec 12 last year and December 13 the year before. While I appreciate not a strong proxy I checked into the Philadelphia Oil Service index to see it is at 152..pretty much in the middle of the 52 week range of 125 and 172. It needs Greenlane to get some significant hits to get the price motoring. PS I did go onto thr websites and the good news is that they are now up to date. Almet had this from August 30 Quote Al-Met has won its largest ever single order worth over $1.2 million for flow control parts. Unquote. Neither Greenlane, Chesterfield nor the main corporate website had anything noteworthy. PPS Of course the big concern is that a large shareholder loses patience and sell; fingers crossed that they continue to be content;remember that in July and August Artemis went up from 15% to 19%
11/4/2018
08:49
cerrito: Share price reacting as I would expect with a USD70 oil price and I see no news on the main corporate website on any Greenlane contract wins. Intuitively I do not see them as takeover material
18/2/2018
22:02
james188: My thanks as well for a very comprehensive post. I also attended and asked the first question about the sufficiency of the cash balance. There is a lot to admire about the company, although the drop in share price over the last few years coupled with the dividend block has been a very painful experience for many shareholders. I do wonder about the future prospects for the AE business. It is the toughest of tough markets. I can see much better prospects for other areas in which the company is involved. Expect an announcement of a refinancing of the debt facilities - maybe expanded - in the next few months.
31/8/2017
11:06
longshanks: There are elements of this company that I really like and I believe the biogas upgrading business is a good long term reason for an investment However with their bread and butter business so heavily tied to oil exploration which will not be spending quite so freely in future I worry for the company to be able to truly focus and flourish Still on my watch list but yes I can see repeated profit warnings and ongoing deterioration in the share price
02/6/2017
22:48
cerrito: Lex in the FT today comparing the growth of US shale oil production with shares of US oil service companies being in the doldrums. Apparently the Philadelphia Oil Service Index has lost 24% this year-as indeed has Pres' share price since the end of January
13/5/2015
09:14
meijiman: Well well. I think it might be folk looking at what the likes of Cape has been saying and maybe Wood Group today and thinking that whilst its tough out there its by no means the end of the world scenario which seemed to have been baked in to the PRES share price.Got to agree with poster longshanks- 1347.
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