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.

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

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

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

Added this morning on that news Jim. Funny but my brokers Ive got two orders in couldnt execute the deals immediatly. Hoping to get them at around 221p anyway. Think we are in for a good run in these especially with Oil and Gas stocks back in the limelight.

cheers GF,

I also added yesterday but had no problems with my broker - using Barclays Online and got immediate execution. Going back to yesterday's news, I think that Exxon Mobil is already a user of Hamworthy equipment. May be wrong but its stuck somewhere in the depths of my memory. Also you can see how important LNG is becoming - the South Wales terminal (Milford Haven) has only just been given the ok and already they've decided to double it !

Jimwren

How do you find Barclays Online. I am thinking of using them. Any problems and how long does it take to get your money?

MS

Added another tranche. Yup I agree Jim about LNG, BG will do very well and I think Star Energy is a good long term bet for storage, I beleive we have not enough storage facilities for the LNG we are going to need.

cheers GF.

JUst ticked up to +4.

cheers GF.

MS - I also use Barclays on line - and I have found it excellent

Trades cost 7.50 - It is usual to get inside the spread, settlement is 3 day.

I find their screens extremely useful and they provide you with current balance or ceared balance etc etc

I would recommend them - have been using the online system since it began - well pleased

Baza

Baza

Many thanks for that. Will look in them further.

MS

mickeyskint

I have no problems with barclays - good site, lets you customise your display, plenty of research information. No problems at all and 7.50 for frequent traders (over 10 a 1/4 I think).

Thanks jimwren.

MS

GF

I had forgotten about Star Energy (STAR) - I knew they had bought storage in Lincolnshire but didn't realise they were a quoted company. Prelims for 2004 are released 18 April - could be interesting. The UK suffers from a big lack of storage sites for imports by ship.

see also comment from daily telegraph business:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2004/12/26/ccmm26.xml&menuId=242&sSheet=/money/2004/12/26/ixfrontmarkets.html

JM

Not the most dynamic share on the market (STAR). Last year it moved side ways seven months and then took nearly 4 months to go up by 10p. Maybe when it wakes up but not at the moment.

MS

Agree with you on that Mickey but when Star goes I bet it goes like a bullet. Been in and out because of the senario you desribe above.

Anyway HMY as got to be one of the hottest stocks around at the moment. Tipped in the Feb Growth Company Investment letter aswell, just got my free copy an hour ago the snows really delayed the post today, its 2 ft high here in Huddersfield and still going, gawd. They say HMY is very cheap for a growth stock and massive growth industry. Havent read the full article yet though.

cheers GF.