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.

GF

Looks like Jason did wave the magic wand. Up 1% not a lot but in the right direction.

MS

Good news.

cheers Gf.

Good move upwards in the SP today, about time, my wand is getting worn out!!

One strange thing I have just noted, the name of this thread has changed back to the original?

Cracking move up in price Jason.

Would have a word with Ian about the heading.

Just done a search with the code and this is all I could find.

cheers GF.

Not clear why the price has moved up so much today but loving every minute of it.

Look on ADVFN.

MS

jasonwalt - I will get JT to take a look - unfortunately, it will be tomorrow now as he has finished for the day.

Ian

Cheers Ian, how do you do that? Telepathy?

jason - nah I just read the posts :-) I will let you know when it is sorted.


Ian

Thanks again.

jason

Looks like the jump in SP was due to a number of large buys going through around 3pm.

Looking good again today, keep going with that wand Jason!

Had to buy a wrist support after all this wand waving, but it's having the desired effect!! lol. 2 by Christmas and an extra large turkey on the table me thinks!!

Lets hope so (2 by Christmas, not the turkey thanks, i'm a vegi)

Frampton, a Turkey made from Quorn then!

Its certainly woken up over the last few days.

cheers GF.

If it's 2 by christmas sod the turkey you can have me.

MS

There have been a couple of big deals for LNG going through with the major oil companies over the past week and this will have a positive effect for HMY due to the increase in tanker orders that will result. Could be the reason for the extra interest over the past week.

mickeyskint - thanks for the offer, but I will stick to my turkey, lol!

Hmm, thanks Mickey, I'd rather have the Qourn, or even the turkey.