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.

It all sounds very positive in the brokers note, looking for a steady flow of buys todays and another move up in the price if we are lucky.

Thanks for the brokers note Jason. I wish I was in a position to buy more.

Its due a price rise Jasonlets face it we havent had one for two days LOL.

cheers GF.

Frampton, been looking at a few of my poorer performing investments this morning and considering dumping them and buying some more HMY but I may stick with my current holding for now. Decisions, decisions!

gf, due a bit of a rise soon but I think it may be Tuesday or Wednesday before we see anything now. It's odd to believe, but a few more days at these prices will actually strengthen our position.

Jason - I also have the same problem - do I dump stocks going nowhere to buy more HMY? No doubt I'd choose the wrong ones and they'd suddenly rise after I'd sold out!

Frampton, I think we have all been there before, one of the joys of investing I guess!

Best to keep a balanced portfolio guys. I know its tempting to get rid of some that are dormant, but remember they can just spring into life when you least expect it.

cheers Gf.

Should be just about time for a rise for this one on tuesday.

cheers GF.

GF, good advice on the portfolio, decided against pulling some of the other investments but always good to re-assess the shares being held. Hope we do get a rise today.

Quiet day looking at my portfolio and watch portfolio Jason, just wondering if we are awaiting some economic dats from the US. I think there is some out but have forgotten what it is now.

Sees ya later when these are up again.

cheers GF.

GF, couple of bits of economic data out this week and loads of companies (20+) going ex-div on Wednesday but I think we are feeling the effects of the historically slow September, roll on October when the markets should start to pick up again.

J.

Yes think your right there Jason, this is usualy a month when fund managers are back and off load the chaff in their portfolios.

cheers GF.

Just been thinking Jason dont you feel now that your header is a bit dated?. It can be changed if you ask Ian on the help button above.

Just a thought.

Sorry that should be the contact button.

cheers Gf.

GF, thanks, was thinking the same thing last week but thought I was stuck with this header. I will get in touch with Ian and get it changed, suggestions anybody?

jasonwalt,

If you want any changes to the header, please just E mail what you want to ian@moneyam.com and I will take a look and see what I can do,

Regards

Ian

Blimey, you must be telepathic or something, cheers Ian, will be in touch soon.

Wow thats service for you, well done Ian, bet hes got a few bob on this one eh Jason.

cheers GF.

Always impressed at the quality of customer service on moneyam, hope he got in early as we did!