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.

Overdone indeed. Quite amazing how this sort of sell off exposes the power of the BORSON brigade. There must be a lot of people paying high tax/commission percentages for this short-termism. And this with one of the safer bets around. At this bargain price I'd certainly top up if I had funds.

Cheers, Madison

Certainly getting buyers coming back into the market for these.

cheers GF.

I agree...Selling way overdone, but as most of you, i think this is a stock to put away for the longrun...Being the leader in on-board reliquefaction plants for LNG ships is what interests me most about HMY, and this industry is just starting to develop. HMY has huge potential IMO.

Indeed it has huge potential and is derd cheap at the moment. Historical P/E of 15 and forward P/E of circa 10 makes this one a must for everyones portfolio.

cheers GF.

Tipped in Pat Lay's Small Caps (This Is Money)today.

Cheers, Madison

Topped up this morning.

Looks promising if Pat Lay is tipping it.

cheers GF.

Holding steady now ready for the next run up.

cheers GF.

RE- tipped in Shares today..................

Updates:
*Buy Hamworthy (HMY.L), Findel (FDL.L) and Retail Decisions

cheers GF.

Hamworthy is also mentioned today in Investors Chronicle "AIM 1000".
"From the 20 companies within Aim's general engineering sector, three - Hamworthy, Pursuit Dynamics and Offshore Hydro Carbon Mapping, stand out"

Yes thanks for that Paul.

cheers GF.

good to see an investors chronicle tip, can't do us any harm!!!

Shell announced yesterday that "it will transform itself into a global gas major over the next 10 years, producing more natural gas than crude oil, as it ramps up investment in a total of 10 multi-billion dollar projects".

Just reinforces how much opportunity there is out there for HMY.

Yep, and one day the share price will reflect that. In the meantime I could get bored waiting.

nice to see this up - good for the long run, but good to see a short term 5% rise too. Any news?

Sudden rise in volumes and SP has been happening for a few days - odds on something happening behind the scenes but I don't know what.

could this be due to rise in oil prices this week. Perhaps people are starting to look at different energy sources n more detail with LPG being one of them. An increase in LPG will ultimately be an increase in HMY SP.

Good to see some life back in HMY...the fall was way overdone! News must be coming!

There has been a steady rise in SP over the last few days but no great volume - I am taking a 30% profit and getting out of HMY for a while. I'll keep watching the stock but in the absence of any great news I'll wait on the sidelines. The LNG story is a good one but I have a feeling that much of the anticipated work for HMY is already in the SP.

Jim - I have done similar - although I have left a small stake in HMY

Baza