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.

paulgrip - you may be right, it is difficult to know how far the detailed planning has gone. if the ships can be of the same design, all well and good but sometimes specific projects have specific needs. I am very positive about HMY - right company in the right place at the right time. As an aside there was a piece in the IC about British Gas - they commented that they are looking to almost double their imports of LNG over the next few years. More opportunities for HMY. Don't forget also that these reliquifaction plants are also used ashore as well as on ships.

Didn't know about the use of reliquifaction plants on shore. It just gets better for HMY.

LOL

MS

don't want to bore you with technical stuff but its the onshore plants that were the big thing. until recently, when HMY developed their ship based units the gas was liquified ashore for storage and pumping on the vessel. because of its very low temp (-160C) it was very difficult for the ship to cope with the "boil off" which tended to be burnt as fuel. This is a waste and HMY's gear will surely change this - the economics are overwhelming. Add in the fact that the next ten years will see plenty of new gas fields coming on line and we are on a roll!

Interesting reading Jim, please keep it up. Going add in the morning, looks very hot on all the B/Bs.

cheers GF.

hi gf
been in this one for a while
like the look of it - the posts - stats - and price movement
increased position this morning
hoping for more as we all are i am sure it will happen

regards HUSTLER

Added again myself hustler. The company could be on the brink of something big.

cheers GF.

Hoping for a big day tuesday.

cheers GF.

time on our side patience
move higher looks on the cards IMO

regards HUSTLER

Now we are motoring!!

Up 3.5p. Good on a bad day.

cheers GF.

A good solid share this one. I can see 3 in the not too distant future.

MS

A regular cash machine. Nice steady rises.

Yup finished the day off nicely after I had added this morning , NICE.

cheers GF.

Dont sell off, the markets getting a shock taste of reality. There will be a bounce in the US.

cheers GF.

Just out from Killik brokers....................

Sentiment in the near term appears to have turned with active profit taking in the second liners after a terrific run to the start of the year. How far things will come back is the obvious key question but so far, it does not appear as if too much stock is coming out and this feels more like a healthy correction rather than something more significant.

cheers GF.

Just out from Killik brokers....................

Sentiment in the near term appears to have turned with active profit taking in the second liners after a terrific run to the start of the year. How far things will come back is the obvious key question but so far, it does not appear as if too much stock is coming out and this feels more like a healthy correction rather than something more significant.

cheers GF.

This is not some faceless internet stock that you can't really equate to, but a company with substance. Any fall is small compared with the gains so top up on the lows.

MS

It's not going to fall far. This stock is too strong and too tightly held - including by us!

From today's Times...

Qatar and Exxon Mobil plan to double the capacity of their LNG import terminal in South Wales by 2008....

More imports mean more ships and more shore plant - potentially good news for HMY

From today's Times...

Qatar and Exxon Mobil plan to double the capacity of their LNG import terminal in South Wales by 2008....

More imports mean more ships and more shore plant - potentially good news for HMY