Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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PipeHawk is very pleased to announce that QM Systems, one of the Group's principal subsidiaries, has entered into a partnership with Ventive Limited ("Ventive") to manufacture a ground breaking 'green energy' solution to providing domestic heating and hot water. The product builds on air source heat pump and heat recovery technology together with utilising a Thermal Battery to provide an efficient solution that can be considered a direct replacement for a conventional gas or oil fired heating system. The first phase of the project, which comprises a contract worth approximately £800,000 to QM Systems, will involve QM Systems and Ventive working together to produce a state of the art system for manufacturing the heating product.
Interesting !
That said, I've been looking at the 2021 results (RNS of 3 November) and am intrigued by the turnround in H2. On my back-of-an-envelope estimate, the automation and test systems division (QM, TED and Weston) made a pretax profit of £450K or more in Q4 alone. This year, assuming the other two divisions collectively manage to break even, PIP as a whole should be capable of producing well over £1m profit pretax, perhaps even £1.5m. The tax charge should be negative because of R&D tax credits. Given the claimed prospects for future growth, on a market cap of less than £5m (c£7.5m fully diluted) that doesn't look altogether unattractive.
JMcJ - I'm not 100% sure, but I think it went something like this: GW paid PIP the £197K upfront, i.e. before the sale was completed, rather than on completion as you'd expect. (I'm guessing that PIP may have had some cash flow issues at the time.) Initially, that was treated as a temporary increase to GW's loan: then, on completion, the loan increase was wiped out and PIP retained the £197K as consideration in the normal way.
All past history now, but I think we must accept that PIP is in effect a vehicle for GW.
I've been looking at PIP for a couple of days now, considering whether to open a position, as the operating business looks decent, and trading under fair value, however I can't get past the sense that this is a vehicle for Gordon Watt's self-enrichment. Can anyone translate what happened with the sale of SUMO a couple of years ago as it makes no sense to me at all. He sold Pipehawk's stake to himself...but loaned the consideration amount to Pipehawk, paying himself interest? Can anyone make sense of this?
"PipeHawk announces that it has sold its 28.4 per cent. joint venture interest in the ordinary share capital of SUMO Limited ("SUMO") to Gordon Watt, the Executive Chairman of the Company, for a consideration of £197,499, being the original cost of the investment, subject to shareholder approval ("the SUMO Share Sale"). The consideration will be satisfied in cash. Gordon Watt has agreed to pay the consideration immediately and therefore the payment of £197,499 will be treated as a loan, on identical terms to the existing loans due to Gordon Watt, until such amount becomes payable under the agreement for the SUMO Share Sale"
The Second half results were really good especially following the Covid and Brexit issues that impacted the business in H1
So we are looking at Revenues for the year of £6.7m exceptional.
mcap at 17p SP was just £6m ie less than they are doing in revenue, go figure.
Full report out mid November so only a few weeks to go. looks like a no brainer buying at these levels.
GLA
Going in the right direction , share price going up slowly.
30 September 2021
PipeHawk plc
("PipeHawk", "Company" or the "Group")
New lease agreement
PipeHawk is pleased to announce that its subsidiary Thomson Equipment Design Limited ("TED") has concluded its negotiations and has signed a ten-year lease for two modern adjacent open space buildings in Cinderford (together the "New Premises") at an annual rental of £90,635 (with the first 12 months' rent free). The New Premises comprise approximately three times the available floor space as compared with TED's existing premises.
Gordon Watt, Chairman of PipeHawk, commented: "This is an exciting next phase in the development of TED, where we are able to retain all the expert and loyal staff at TED, and move them and the business into a much more efficient and spacious working environment. Since 31 December 2020 TED has steadily increased its factory-based work force by 20%; both the orders and enquiries pipelines are significant and growing. We are also currently looking to recruit a further 40% engineering staff in the near future."
Enquiries:
PipeHawk PlcGordon Watt (Chairman)
Tel. No. 01252 338 959
Allenby Capital (Nomad and Broker)David Worlidge/Vivek Bhardwaj
Tel. No. 020 3328 5656
Is PIP going to POP ? lol
Morse you should view it on a quiet day !
Fascinating board !
..........
Anyone know what has spurred the last couple of days?
....from my last post.
We should really see 10p+ today
Usual pattern....good news with an RNS, SP rises and then pulls back as fast as it rose.
Tedious.
Still remains huge....
QM Systems has recently started work on a new £1.7 million project to deliver a bespoke machining and handling system to Isoclad Limited, one of the UK's largest independent composite panel manufacturers, for the manufacture of specialist clad panels for its Customclad service.
The outlook for the current year and beyond for QM Systems is extremely positive.
No issues man profits of 0.5 million. Despite Covid 19 , if u remember they are affected by COVID 19.
I think contract news will continue and looking for dividends in near future
Results read well despite all the excuses that could have been rolled out so, all in all, well done PipeHawk.
The only issue remains the critical support from GW which now amounts to £1.6m and if it were less, the SP would be considerably higher. Hopefully we can move forward from here capitalising on all the positive comments about potential forward contracts together with continued diversification and distance ourselves from this figure.
I have changed my mind and i want to invest in.
All contracts were announced in last 2 years i can see that nearly half million profit now.
Looking for dividends now
I am pleased to see the SP moving in the right direction, however, the spread on bid/ offer is ridiculous.
Looks like someone knows what’s coming with the year end figures!
Could be worse, could be invested in MTL!
Yeah really good volume I think not