London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Last post: ISATony, 17 Jul 2023 07:57
Good interims and nice growth progression but always that niggling unsure element in the last sentence of every RNS re funding...
CW needs some antidepressants or something or get someone elese to write the RNS.
Can only hope the onboarding of Richard Staveley - a qualified accountant and fund manager and the appointment of the new CFO can make a difference to margins, contract pricing, hedging and hopefully profitability so we can get rid of that persistant niggling funding issue that Chris feels is always worth dwelling on.
Chris Walters gotta get the SP to 140 before Oct 2024 otherwise he misses out on 5.5% of the company's market capitilisation in awards...
Hopefully at some point soon he'ss start thinking of Prozac, sweet meadows , new kitchens and yachts...
See the drop occured on the 26th but the Interims were posted AM on 27th
is that a leaky ship (is that usual for this Co ?)
Last post: Nova2020, 3 Jul 2023 07:35
Quite a drop considering accounts look reasonable but i'm no expert
would appreciate others comments on it
guess debt refinancing not going well - higher interest rates
money generally leaving the markets nowadays - higher interest rates
Started: millionpennyaire, 27 Mar 2023 08:14
Last post: ISATony, 27 Mar 2023 13:21
Things shaping up here it seems.
Have taken a small position.
Major Order Placement
Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that its wholly owned subsidiary, Al-Met Limited, part of the Group's Precision Machined Components ("PMC") division, has been awarded a record £3 million order from an established international OEM customer for the supply of flow control components and subassemblies used in high-pressure extreme service oil and gas applications.
This unprecedented order for Al-Met and the continuing momentum in PMC order intake underpin the FY23 full-year outlook for the division and also provide substantial order book coverage and visibility for the first half of FY24.
PMC total order intake for the month of March 2023 is now expected to exceed £4 million, the division's highest ever monthly intake. The PMC order book is now expected to reach approximately £7 million at the half year on 31 March 2023, the highest order book level for the division in over six years.
Chris Walters, Chief Executive of Pressure Technologies commented:
"We are delighted to announce this unprecedented order that demonstrates Al-Met's strong and growing position with its major international OEM customers, resulting from improved operational performance and competitiveness in meeting increasingly stringent metrics for quality and on-time delivery.
The scale of this award and the strengthening order intake across the PMC division demonstrate the increasing pace of recovery in oil and gas markets, underpinning our expectations for the full year, including a return to profitability at the end of this quarter."
The person responsible for arranging the release of this announcement on behalf of the Company is Chris Walters, Chief Executive.
1.2 million increase in operating losses, more time too do the audit, hmm something not right,
Started: taskmaster, 10 Mar 2023 11:31
Last post: taskmaster, 10 Mar 2023 11:31
Pressure Technologies plc. 53:30
https://www.youtube.com/watch?v=z6yMYwzpV9M
PMC up for sale
Started: Bridgedogg1, 15 Nov 2022 07:46
Last post: Bridgedogg1, 15 Nov 2022 07:46
I guess the constructive dialogue with Lloyds didn’t turn out to be quite so constructive after all. Cash raising for working capital is a bad sign
Last post: steven49, 27 Sep 2022 08:39
Terrible trading update.
Started: Dr_Kaboom, 27 Sep 2022 08:21
Last post: Dr_Kaboom, 27 Sep 2022 08:21
As a result of the expected adjusted operating loss for the full year, the Group now anticipates that it will not be able to meet the requirements of the two existing financial covenants contained within the current facility. These covenants relate to leverage and interest cover and a first test is currently required at the end of October based on full-year performance to 30 September 2022. The Group is currently in constructive dialogue with Lloyds Bank regarding these covenants and ongoing facility requirements.
Started: slingsandarrows, 4 Dec 2021 21:26
Last post: ISATony, 28 Jun 2022 17:46
Not if Chris Walters has anything to do with it... Absolutely useless as usual!
Upward momentum resumed…£1 + and beyond
Gla
The price has moved up slowly on minimal volume over the past few days, any influx of buyers will see this move up sharply.
Absolutely investable. Could see a return to its halcyon days
This board is so beautifully quiet. Lots to like here.
Meanwhile - Hydrogen Storage is going great guns and this growth has a runway of at least a decade. submarine work also has a decade of growing work ahead of it and now the embargoes on Russian energy will put the wind back in the oil and gas segment as well.
Started: Waydan, 17 Nov 2021 20:07
Last post: 1Squadr0n, 23 Nov 2021 01:36
Yes, bang on.
Then underscore that with "The pipeline of opportunities for static and mobile hydrogen storage systems continues to grow and the visibility of future demand is improving." (12th Nov RNS). V encouraging.
1000% revenue growth in 12 months for Hydrogen storage is quite something.
Their scalable Hydrogen storage solution must be a very good commercial fit.
Excellent 30+ page research document available on VSA's website too. 175p target, as you say.
https://www.theaic.co.uk/aic/news/citywire-news/gresham-house-sacked-as-strategic-trust-follows-staveley-to-harwood-capital
This explains the transfer of the 14%
Hydrogen Energy Market momentum building very nicely here.
"Chesterfield Special Cylinders (CSC) delivered revenue of approximately £18.6 million (2020: £11.2 million) and is expected to report an adjusted operating profit1 of c.£2.5 million (2020: £0.1 million loss)."
All in all a nice set of results, current market conditions considered.
Hoping for some Hydrogen storage contract announcements now after the COP26 dust has settled.
And to know who bought 14% of PRES a few days ago.
ATB
Back in @80p.
Hydrogen starting to take off and COP26 mandating methane capture/processing vs venting/flaring could benefit PRES's order book.
The £7.5M fundraise was nearly a year ago. I hope there'll be a trading update on final results and how the Hydrogen strategy has progressed soon.
I wonder which II took the 14% @78p. Should be an RNS or two in the next few days.
GLA
Agree that the PR is rather lacking. The company undoubtedly has a bright future if hydrogen is widely adopted as part of the energy transition. The UK government is due to release it's hydrogen strategy soon (I believe this month), so maybe that'll be the catalyst for some PR/news on contracts and collaborations
For individuals, the RNS is a reactive source of news about UK companies. This news could form the basis of some traders’ decisions to open or close a position, which means that the financial markets are very reactive to RNS announcements.
Or lack of them...
Started: ISATony, 12 Nov 2021 09:09
Last post: ISATony, 12 Nov 2021 09:09
Harwood Capital take 14% stake.
They know the value here too.
Started: ISATony, 11 Nov 2021 16:14
Last post: ISATony, 11 Nov 2021 16:14
Johnson Matthey pulls out of Battery sector to focus on Hydrogen.
https://www.theguardian.com/environment/2021/nov/11/blow-to-uk-battery-industry-hopes-as-johnson-matthey-halts-research
Interesting as there are only a few companies worldwide that offer Hydrogen storage solutions at scale.
PRES are one of those companies and have a fully scalable H2 storage solution.
I expect more Hydrogen related contract news in the short to medium term.
GLA
Started: ISATony, 15 Jun 2021 13:47
Last post: Adastra, 17 Jun 2021 17:55
Lol! Just shows we can't all get it right all the time! Well wrong footed there but my concerns remain hence the switch to Vnet. I'm fairly certain it will prove a decent move over 3 months but I'd have been better waiting 48hrs.....hey ho.
Availability and cost of steel is going to be a key factor in keeping margins as existing contracts may have little leeway. I can't see a great improvement in the near future as the nature of the end products requires premium class raw material and margins/bottom line will suffer. Once we get a clearer picture into 2022 I'm more than happy to revisit as it's a good company.
Hope you're correct it's just the time lag before we know one way or another and I get the feeling it will tread water for 6 months. That means I can get a better return elsewhere and reinvest here in due course. Having said that, things could progress rapidly here with a few good contracts and I may miss the boat. Not an easy call, but one I've made on a gut feeling.
Hopefully they've sorted out any future anticipated Steel supply issues.
"Long-term supply agreement established with steel tube manufacturer, Vallourec and strategic stock orders placed to meet hydrogen-related demand outlook and lead times"
I'm surprised they didn't make more of a deal about the new contract(s) with SHELL for H2 storage across Europe.
I'm also surprised it wasn't RNS'd in its own right.
Never mind! H2 storage/fuel cell contracts are increasing at a good pace, which is what i wanted to see.
Nice that the MOD contract order book is up 75% on same period last year and the Cylinder division's increase in Hydrogen related revenue more than made up for the O&G decrease in profits for the period.
Started: Adastra, 15 Jun 2021 10:37
Last post: Adastra, 15 Jun 2021 13:29
The outlook is sound but some way off from here given the constraints on steel supply primarily. If material availability and cost pressure hold back progress that is a brake to this year's earnings. Hopefully Vianet will benefit quickly and I'm happy to reinvest here in 6 months time as progress is more visible.
I can understand your frustration Adastra.
From reading the RNS, i was expecting 15% up not 15% down.
Decided to take the hit this morning and sold at a small loss as the outlook seemed sisyphean. Thankfully I was able to bunnyhop on to Vianet which itself saw a disproportionate drop this morning and pick up virtually the same number of shares. Been watching the latter as it's prospects should quickly pick up from here. Better of the two looking at market reaction but miffed that Pressure didn't get the traction due to a combination of factors. Heyho that's life.
Started: Adastra, 14 Jun 2021 19:17
Last post: Adastra, 14 Jun 2021 19:17
Hopefully Pressure Tech are gaining the traction they envisaged and have banked the delayed MoD contract funds etc. I am expecting a really good update on the European hydrogen rollout with strongly visible indicators of cash flow.
Started: Adastra, 10 Jun 2021 09:11
Last post: Bergcarls, 14 Jun 2021 13:26
20k seller back. 20k today 27k friday
I think £1.80 forecast is highly conservative given the outlook in both lockdown and business progress. Money has dropped into the coffers from large MoD extended contract during this period and uplift in o&g plus, as you say, pressurised H2 and N storage looks compelling for this specialist. As all pressurised equipment needs mandatory annual validation, the company should also be playing catch up and run soon if not already.
I doubt that 10k/20k seller will be selling more before interim results.
If they do i'll be hoovering them up :)
Share needs to get past the 10k/20k seller that keeps offloading
That's a couple of the reasons i'm here Adastra.
Most importantly, as you mentioned, PRES (through their subsidiary CSC) will be well positioned to take advantage as the world moves towards a more robust decarbonisation effort.
Whether its large specialist cylinders for Hydrogen fuel storage or large specialist Nitrogen storage cylinders for Nuclear power cooling, PRES should have started seeing an uptick in their order book.
The recent contracts with behemoths EDF and Ingersoll for Hydrogen fuel storage speaks volumes.
At some point this will be reflected in a rerate of the share price, hopefully to the levels seen 5 years or so ago.
I am in agreement with the 12 month broker forecast of £1.80.
Started: ISATony, 10 Jun 2021 11:12
Last post: ISATony, 10 Jun 2021 11:12
An interesting read on Hydrogen, its storage and role in decarbonisation.
Bodes well for companies capable of manufacturing storage vessels for H2
https://spectrum.ieee.org/energywise/energy/the-smarter-grid/time-for-utilities-to-learn-to-love-hydrogen
Started: Cacher, 9 Jun 2021 13:26
Last post: ISATony, 9 Jun 2021 14:26
The G7 needs to put more pressure on the adoption of Hydrogen as a fuel;
Both through environmentally clean sources and through incentivising the refiners to remove the carbon from fuel at source to provide a cleaner fuel.
Hydrogen in my opinion certainly has the best potential for quick adoption as decarbonisation needs rapidly increase.
Methane can easily be converted to Hydrogen and a CH4/H2 mixture piped through existing gas infrastructure, greatly reducing CO2 output whilst increasing efficiency.
Only issue is storing the Hydrogen. It needs specialist large cylinder equipment in between the refineries and pipelines/customers.
A key U.K. energy hub could become a major hydrogen producer in the coming decades, potentially supplying London and helping the nation meet its clean-energy targets, according to a report from the country’s oil and gas regulator.
https://www.bloomberg.com/news/articles/2021-06-08/u-k-sees-big-future-in-hydrogen-for-england-s-key-gas-hub
Started: Adastra, 8 Jun 2021 10:44
Last post: Cacher, 8 Jun 2021 14:07
They're pretty active on LinkedIn. A good account to follow, and it's clear from their posts that the hydrogen angle is quickly building
I also expect weekend press comment from previously positive tipsters in the Mail and Times to resurface this week heralding a long overdue rerate.
Easing of lockdown also opens the doors to a huge volume of mandatory pressurised equipment testing that Pres is qualified to do and has to be done for customers on site and in situ. The backlog here must be substantial for Pressure Techs qualified inspectors. Plus oil and gas markets as well as hydrogen are opening up quickly.
Not without its interests to larger players like IMI either.
They should be in a very nice position financially and from an order book perspective.
£30M market cap is very low for a company with such general and Hydrogen specific expertise, recent and expanded contract wins and in demand globally with regulatory tailwinds behind them.
Started: Adastra, 8 Jun 2021 10:46
Last post: Adastra, 8 Jun 2021 10:46
Lots of positive info out there if you go trawling.
DYR and benefit.
Started: Cacher, 5 Jun 2021 12:21
Last post: ISATony, 7 Jun 2021 09:32
Regulatory pressure pushing decarbonisation and PRES nicely funded with £7.5M.
Hydrogen storage contracts many times PRES's Mcap up for the bidding.
Only a handful of companies possessing the capability to offer large Hydrogen storage solutions.
With PRES recently winning a contract to supply Ingersol/Haskel with H2 refuelling storage solutions, the recent £3M contract for N2 storage with EDF and the regular government recerts etc; the hard work and expertise at PRES and its subsidiaries seem to be starting to pay dividends.
Hopefully we will see some early evidence of this in next Tuesday's Interim Results.
In the post linked below, Daimler promote the 1200km hydrogen corridor across Europe being developed by Shell - presumably using CSC and PRES as part of the supply chain.
The growth in this area over the coming decade or two could be mindboggling...
https://www.linkedin.com/posts/daimlertrucksbuses_hydrogen-activity-6802848267483811840-FOWz
Started: ISATony, 10 May 2021 16:37
Last post: ISATony, 10 May 2021 16:37
And so are Schroders.
Started: vinnie2930, 9 May 2021 19:40
Last post: ISATony, 10 May 2021 12:48
I am happily accumulating at these levels.
If the market wasn't illogical there would be no chance to make money.
Just took a look at Financial Times and they have indicated a price target of around 190 in next 12 months (based on a broker indication) with Schroders Investment Management being the majority holder.
Anyone knows why this share is sleeping for the last so many months and there is little or no movement at all?
I try to look at the buys/sells and it appears that people are busy accumulating shares very quietly at these levels
I always believed that hydrogen is going to be one of the key investment themes over the next few years and therefore a little surprised at so little movement here
Any thoughts on this would be much appreciated :)