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.

A good web site well worth taking a look, with top people running the show. A definite winner long term.

MS

Well after such excelent contracts you can see why NLR and MMG are having an hard time.

2 months back what a 20% rise at least?.

I may withdraw from the markets until September and build a cash pile.

F the MMs who I have had no real problems with until this year and Ive been in the business over 21 years. I just feel theres far too much credit/margin available now and this is affecting the markets leading to sideways volatile conditions.

cheers GF.

excellent news, and this should be the first of many more contracts to be awarded.

Can anyone tell me how many shares are in issue. Many thanks.

MS

This one is holding its price and quite rightly too.

cheers GF

One of the few firms not affected by the recent sell off, a purwe quality play.

cheers GF.

Starting to move up, NICE.

cheers GF.

GF

Are the results due soon?

MS

Results - end of the month - 31st May. They issued an RNS giving the date.

Must have missed it. Thanks PL.

MS

Steaming away today. Will we see 230 soon, I hope so.

MS

any reason for the jump today?

It might be to do with the results coming out at the end of May.

In theory this should have happened after the contract news, but the market was against it. Is there a touch of delayed reaction? Whatever, it's nice to see it up today.

Cheers, Madison

Too true. Excellent web site and top management.

MS

Great to end the week with a nice rise...the other contracts should be declared pretty soon, so we should get some more good news hopefully next week, which will set us up well for some great results on the 31st.

Looks like a tree shake this morning. Mms not getting much though. Roll on the results.

cheers GF.

Tree shake GF? We're only down a penny. Its just drawing breath after Friday. Plenty left in the tank here I think.

Agreed PL, buys greater than sells but price lower. Looks like MMs attempts have failed.

cheers GF.

And right at the death, up we go. Rather a penny up than a penny down. Bet we'll have a good day tomorrow.