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.

IMO should be a steady rise as I believe the divi date is around the 23rd Dec, followed by a small fall back.

Into the blue.

Forward P/E of just over 19 to end of March 2008 suggests theres still scope for further SP gains.

Any idea of broker target price?

Well I took the figure HC from Digitalook.com and they provide the concensus figure of all brokers so I would have a shuffty over there.

Still looks to be more in here to me. Quite a bit more.

Agreed. To quite possibly pass 8 this year methinks.

Another contract win, and the recent dip provides a great opportunity for a top-up.

Have you got the details madders, I have no notification from money am on my portfolio.

As issued today:
HHI awards contract for three ship-sets of LPG packages


Hamworthy plc (AIM:HMY), a world leader in the design and manufacture of
innovative marine and offshore fluid handling systems, announces today that it
has won further contracts with the Hyundai Heavy Industries (HHI) Group to
supply liquefied petroleum gas (LPG) packages for three very large gas carriers
(VLGCs). The packages include cargo handling engineering, reliquefaction plant,
deepwell cargo pumps and inert gas systems packages with a total value of over
12 million.

The ships will be constructed at HHI's Ulsan shipyard for delivery to the Hong
Kong based Korean owner CIDO Shipping. Equipment deliveries to HHI will take
place between January 2009 and November 2009.


Kelvyn Derrick, Chief Executive of Hamworthy plc, said: 'This brings the total
number of LPG reliquefaction systems orders received from HHI to thirteen ship
sets since our breakthrough orders in August 2005 and further strengthens our
relationship with this shipyard that constructs more LPG carriers than any
other.'

Cashed in a few tranches here.

Not as relatively cheap as it was going back a year or so.

Holding the balance.

Got some decent momentum behind it.

Prospective P/E of 21 going up to March 2008.

Another cracking order. I expect analyst upgrades after this..

Hamworthy wins orders for 8 LNG reliquefaction systems worth over 20 mln stg
AFX


LONDON (AFX) - Hamworthy PLC said it won orders to supply 8 LNG reliquefaction systems worth over 20 mln stg and said the deliveries will be made during 2008.

Hamworthy said Daewoo Shipbuilding and Marine Engineering Co Ltd ordered equipment for seven LNG carriers, while Samsung Heavy Industries Ltd has ordered equipment for one vessel.

newsdesk@afxnews.com

ssa/faj/lam

I had a small punt in these at 3.30 days but got out last time at 5.00+. Where do you see these going? cos I'm still keeping a close eye on these.

Up, but Im waiting for analyst upgrades.

I have cut back my exposure here very severely because the underlying fundies were more or less up with the SP.

With the new contract the goalposts have been moved again.

Good luck whatever you decide.

LONDON (AFX) - "Hamworthy PLC said it expects its full-year results to be in line with market expectations, with the company making progress in all of its principal products.

The designer and maker of marine and offshore fluid handling systems said the order book at Feb 28, 2007 stood at 254 mln stg for delivery over three years against 234 mln stg at Aug 31, 2006.

The company said its gas systems business has continued to experience strong demand in the second half.

It added that it looks forward to the future with confidence on strong orders and a positive outlook across all its principal product sectors.

Hamworthy will announce results for the year to March 31 on May 29."

It will be interesting to see the results tomorrow, but not really expecting anything exceptional.
A broker upgrade would certainly help, imo.

Thought they were in May HC.

Think youve read them the wrong way around.

You're right ! Damn.
More waiting..............!

Hamworthy plc
03 April 2007


Press Release 3 April 2007






Hamworthy plc



('Hamworthy' or 'the Group')





Hamworthy receives confirmation for LNG regasification orders with Samsung



Neptune LNG deepwater terminal receives Deepwater Port License





Further to an announcement issued on 26 July 2006, Hamworthy plc (AIM:HMY), a
world leader in the design and manufacture of innovative marine and offshore
fluid handling systems, announces today that it has received confirmation for an
order to supply onboard LNG regasification plants for two LNG Shuttle
Regasification Vessels ('SRVs') from Samsung Heavy Industries Limited ('SHI')
for a significant but undisclosed value.



The orders were subject to the proposed Neptune offshore LNG facility in
Massachusetts Bay, which these SRVs will serve, receiving a Deepwater Port
License from the US Maritime Administration. The License was received on 26
March 2007.



The SRVs have been ordered by Norwegian ship owner, Hoegh LNG with whom the
Group has been engaged in the development of onboard LNG regasification plants.
It is expected that the equipment for these SRVs will be delivered to SHI during
2008 and 2009.



The SRV system provides a method for delivering gas to market with a solution
that is safe, commercially competitive and environmentally friendly and which
avoids the need for an onshore receiving terminal.



The Neptune deepwater terminal will be located approximately ten miles south of
the City of Gloucester and 22 miles north east of Boston in water depths of
circa 250 feet and is expected to be fully operational in 2009. It is being
developed to provide between 400 and 750 million cubic feet of natural gas per
day - enough to service 1.5 million to 3 million homes daily in Massachusetts
and New England. It will fill a growing need as demand for natural gas in the
region is expected to increase by 1 to 2 per cent. per year over the next two
decades, with Massachusetts alone accounting for half of New England's natural
gas consumption.



An option for a further shipset of equipment is still in place but has not yet
been confirmed.



Kelvyn Derrick, Chief Executive of Hamworthy plc, said: 'The approval of the
Neptune project is a significant milestone for the Group. This project combines
the very latest in gas technology with environmental and safety regulations to
meet the ever increasing demand for natural gas from the US market. There is
considerable interest in further offshore LNG terminal services being
established, which will require LNG SRVs.'



- Ends -



For further information:
Hamworthy plc
Kelvyn Derrick, Chief Executive Tel: +44 (0) 1202 662 600
Paul Crompton, Finance Director
www.hamworthy.com

Certainly some volume here today.

Awesome. I have quite a few HMY shares but can't make my mind up whether to keep taking profit or to just let them tick along without interfering.
I still think there is lots of potential with this company. They regularly secure big orders with capacity for more, in a very specialised field. Good management & increasing demand for their LNG plants means that they are in a very strong position.
Interesting to know what the next valuation will be from brokers Hargreave Hale.