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.

Well im suprised at the price with this one. Anyway added again myself this morning not many just a couple of divi returns.

cheers GF.

Keep a watch out for contract news. Plenty of speculation this weekend on other boards.

cheers GF.

Nice to see this one back on the gravy train.

cheers GF.

Notched up again.

cheers GF.

Good to see this one back positive again today....some contract news & then we will see a sharper move

I agree with you g64946, the sooner the better.

cheers GF.

Another one up early doors. NICE.

cheers GF.

Hitting new highs.

cheers GF.

nice jump at 11am,
whats the word on the street on this one as I cant find any recent news??

Looks like some are in the know here. Strange that we get this activity after a week of nothing.

cheers GF.

Star Energy up 4.6% today ....... perhaps Hamworthy and Star are starting to move in unison.

ticking up nicely - nice & gentle, always a better ride with the fundamentals making this a smart buy imho

A excellent stock to be in. Good long term potential.

MS

nice 'n' steady. great long term anchor stock!

Ticked up just now.

cheers GF.

yeh - but only on the offer - just the spread widening by a penny.

Niver mind we'l certainly have better days.

cheers GF.

All buys this morning.

cheers GF.

News from my trader on the ground over there....................

For your info HMY are also active in Oman discussing business over the Tankers being built for the Gas deal between the Omani's and South Koreans...pick up any more info on that will keep you informed...

cheers GF.

End of year results on March 31st. Any thoughts?

Bought this for the long term but am interested in any information about the financial performance over the last 6 months and how this could effect the short-term sp.

Thanks in advance.