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.

Moving up nicely, still way undervalued Mickey on a P/E of around 13 now.

cheers GF.

mickeyskint - future growth prospects for HMY look extremely good especially if they get major orders from Exxon and Conoco who are testing the LNG prototype plant aboard their LNG carriers. Should be a small div paid next year so add that to the growth we have already seen and you should be looking at a few extra quid in the bank!!

Have a read through some of the earlier posts to get a better picture of the companies prospects.

Another move upwards, it just gets better and better.

Could be 2 by bonfire night at this rate! It's good to be home, lol!

Now what colour shall I have my new DB9 in?

lol

MS

Mickeyskint - Careful now, we dont want to tempt fate and see this baby nosedive like my warthog shares :-(

OK I'll hang on for a bit longer. Delivery is about 5 years anyway.

MS

The mms are in trouble with this stock. Up 10p today, persistent moves up all day one of the two mms cut the nms from 10k to 5k and both widened spread from 5p to 7p to discourage buyers. They ain't got none! over 1 million shares traded today.

Going to 200p+ pdq imho!

Strong buy recommend in Shares mag. today, that's why the price has risen. Hope it carries on up!

Nice bit of price correction this morning to bring us back below the upper bollinger band. SP had been getting ahead of itself over the last few days, which has been great to watch but unsustainable over the longer term.

Traders taking profits.

cheers GF.

Think your right on that one GF. Still like to see the rise in SP steady off a bit to avoid a sudden adjustment in price.

Jason

Yup, good stratergy.

cheers GF.

Should go north through 200p .

cheers GF.

Rising nicely.

cheers GF.

close 0.5% down, abit of profit taking maybe ???

Not profit taking - just the MMs changing their spreads. Can't understand why. Looking at the day's transactions the buys outnumber the sells again. Offer is down - not the bid, therefore price appeares to have dropped. Could be that the MMs have a large seller to clear.
Good time to top up. I'll see how these start the day tomorrow and perhaps add to my collection.

Short of stock I here on other boards.

cheers GF.

This looks interesting, I wonder what movement we will get after this ???

Hamworthy plc
09 November 2004

Press Release 9 November 2004


Hamworthy plc

('Hamworthy' or 'the Company')


Interim Results - Monday 22 November 2004


Hamworthy plc, a world leader in the design and manufacture of innovative marine
and offshore fluid handling systems focused on gas handling, pumping and
wastewater management, advises that it will be announcing its maiden Interim
Results for the six month period ended 30 September 2004 on Monday 22 November
2004.

An analyst briefing given by Gordon Page (Non-Executive Chairman), Kelvyn
Derrick (Chief Executive) and Paul Crompton (Finance Director), will be held at
10.00 am on Monday, 22 November 2004 at Abchurch Communications Ltd, 5th Floor,
100 Cannon Street, London, EC4N 6EU.


- Ends -

For further information:
Hamworthy plc
Kelvyn Derrick, Chief Executive Tel: +44 (0) 1202 662 600
Paul Crompton, Finance Director Tel: +44 (0) 1202 662 600

www.hamworthy.com

Yup and up again.

cheers GF.