Brokers Hargreave Hale gave the following Valuation for HMY

VALUATION
The nearest comparisons to this Group are Sondex, trading on a current year multiple of 14 and Weir Group which typically trades on multiples of 12 plus. We would argue that Hamworthys prospects are brighter than both these companies in view of the strong order book and the global positioning. Fully taxed earnings of 13p this year and 16.5 p for the 2005/6 end March, suggests a current year PE of 9.9x and a prospective PE of 7.8x. There is a prospective yield in excess of 4%. If trading on a similar PER to Sondex the shares would be valued at in excess of 180p. We would argue that a premium to Sondex is justifiable, in particular because of the potential ramp up to sales as a result of the new product pipeline now gaining client acceptance in what is in any event one of the fastest growing markets in the world.

"Shares" Article relating to Hamworthy (HMY) posted below for info.

With a following wind these shares should double over the next year or so.

Some catty folk in the City say the flotation last month by Collins Stewart
could have been handled better, i.e. at a higher price. It was certainly over
subscribed but the rating is half that of similar oil sector service companies
including Sondex.

Tell you what Frampton, not even the change of thread tittle as moved these today. Its an hard one to move for sure. Come on MMs I know you look in here put em up at least 3p.

cheers GF.

Still plenty of buys coming in, let's hope the MM's put the price up at start of play tomorrow! Frampton, glad you tracked us down, the change of name is the most interesting thing to happen for a couple of days. Our patience will be rewarded! with rapid growth potential.

Comparison charting.



Taken these two other companys as they were the ones listed in the Hargreave Hale Broker note.

Hamworthy = Black, Sondex = Red, Weir Group = Blue.

Pretty obvious that on the price front even though we dont have a full years trading in on the market yet, that we are trailing Sondex but we are comfourtably ahead of Weir Group. I would have thought that we would be well ahead on price comparison terms of both given the brokers note and just goes to show HMY is a well undervalued share.

cheers GF.

GF, thanks for posting that, at least another 30% to go before we get close to Sondex and the brokers have been rating HMY as a better investment, so all looking good. Just need the MM's to start pushing that price up a bit.

Might have sold BISI too early but still nicely in this one.

Think you have sold bisi too early chester mind your in a cracker now.

cheers GF.

Still no action on this one, lets hope shares gives it a re write up tomorrow.

cheers Gf.

GF, either that or Exxon and Conoco confirming an order for HMY's plant for the LNG carriers! At least the buys are still coming through nice and steady, a little bit more news will soon have these heading up towards 2 in my opinion.

Where are they getting all the shares from to fill these buy orders over the last 5 days????????. I cant remember a big selling day, are they printing them ? LOL.

cheers GF.

I can just picture them now with an old hand operated printer frantically trying to keep up with the orders, LOL.

Looks like we need to wait a little longer for the next move upward in price.

Gosh they do take some shifting. Mind it should also be the same the other way.

cheers GF.

Another quiet day, getting boring now!

Only bit of recent news I could find but it's a start.

Major order for Hamworthy electric-drive pumps
Hamworthy has secured its first major contract for its new Svaneh CKL 300 electric-drive deepwell cargo pump.

Hamworthy will supply complete pumping systems to six 49 900 dwt Stena P-MAX tankers being built.

Each system includes:


10 CKL 300 cargo pumps
two DL design slop pumps
two deepwell ballast pumps
one deepwell heavy fuel oil transfer pump
electric explosion-proof motors for open deck mounting
electric variable speed system
plus an outfit of C2G engine room pumps.

Really does need some more news or press exposure get these moving back up again.

This is like watching paint dry. At least I'm in profit, which is more than I can say for some of my holdings. Still I bought them for the long term so I'm not worried.

Same here but it would be nice to get at least one tick upwards during the week.

Hoping for a move up this week guys, surely it as to come.

cheers GF.

Not a bad start to the days trading, lets hope it continues and we get that move soon.

Up she goes!