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.

Yup and we should be seeing more of a rise surely?.

cheers Gf.

Not a bad end to the day, same again tomorrow please!

Have a good evening, J.

Yes some large volume today.

cheers GF.

Buys easily outdoing sells no price move, gosh it takes some moving this one.

cheers Gf.

Wonder if they will pick up any new orders next week?

Hamburg, Germany, 28 September - 02 October


Hamworthy will demonstrate its new oily water separator that is fully compliant with the new IMO regulation MEPC 107(49) which comes into force on 1st January 2005.

Other products featured include pump systems, gas systems and inert gas systems.

Link to the SMM show website:- www.hamburg-messe.de/smm/smm_en/start_main.htm

Good volume again on the buy side on a day that saw the market moving down.

Nice 1/4 page right up in shares magazine today (buy recommendation), stating that the shares have much further to run and that profits could really rocket in a couple of years.

I'm holding on for the long term.

Thanks expert. Im afraid they are down like the rest of small caps in general.

Looks like MMs have overdone it though after the last 7 days or more of buys exceeding sells.

cheers GF

GF the drop in price did seem a bit OTT, buys are coming in nice and steady but I doubt we will see the price move up again today.

I take it back, up we go!

Yup its on its way up again Jason and the increase in oil prices today should help the price move upwards.

cheers GF.

Suprised this one lost a little today. Looks like a tree shake that as gone wrong for the MMs.

cheers GF.

gf - They really screwed up with the tree shake a couple of days ago. Price dropped too much too quickly compared to the quantity of buys that had been going through. Could see this drop 4 or 5% before the buys start flowing a again.

Yup down even though buys are greater than sells. Never mind we are onto a long term winner here.

cheers GF.

Yup down even though buys are greater than sells. Never mind we are onto a long term winner here.

cheers GF.

MM's are on the back foot now, more sells than buys so far and they have moved the price back up. Last week we saw 150K more buys than sells and the price did not budge!

Yup, its a fuuny one this Jason.. Seems to be no logic at all behind the share price movement.

Come on MMS put the price up 10p and prove me wrong LOL.

cheers GF.

Wave your magic wand Jason, we need these moving up.

cheers Gf.

How do you rate Moss international [ MOI ] any views, please.

Any ideas why Sondex fell by 11.5 points by 9:15?