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.

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

First suggestion for a new header from me :-
"Hamworthy global oil services leader with rapid growth potential.

Spot on Jason.

cheers GF.

Sent the request to Ian, so watch this space! Off out for a bit, see you later.

jason,

I have your E mail and I will get the title changed to what you have requested today.

Ian

Well done Ian.

cheers Gf.

Cheers for changing the header Ian.

Jason.

The change of tittle confused me briefly (it doesn't take much) - I thought a new thread had been started today, and there was already over a hundred posts on it!

Tell you what Frampton, not even the change of thread tittle as moved these today. Its an hard one to move for sure. Come on MMs I know you look in here put em up at least 3p.

cheers GF.

Still plenty of buys coming in, let's hope the MM's put the price up at start of play tomorrow! Frampton, glad you tracked us down, the change of name is the most interesting thing to happen for a couple of days. Our patience will be rewarded! with rapid growth potential.

Comparison charting.



Taken these two other companys as they were the ones listed in the Hargreave Hale Broker note.

Hamworthy = Black, Sondex = Red, Weir Group = Blue.

Pretty obvious that on the price front even though we dont have a full years trading in on the market yet, that we are trailing Sondex but we are comfourtably ahead of Weir Group. I would have thought that we would be well ahead on price comparison terms of both given the brokers note and just goes to show HMY is a well undervalued share.

cheers GF.

GF, thanks for posting that, at least another 30% to go before we get close to Sondex and the brokers have been rating HMY as a better investment, so all looking good. Just need the MM's to start pushing that price up a bit.

Might have sold BISI too early but still nicely in this one.

Think you have sold bisi too early chester mind your in a cracker now.

cheers GF.

Still no action on this one, lets hope shares gives it a re write up tomorrow.

cheers Gf.

GF, either that or Exxon and Conoco confirming an order for HMY's plant for the LNG carriers! At least the buys are still coming through nice and steady, a little bit more news will soon have these heading up towards 2 in my opinion.

Where are they getting all the shares from to fill these buy orders over the last 5 days????????. I cant remember a big selling day, are they printing them ? LOL.

cheers GF.

I can just picture them now with an old hand operated printer frantically trying to keep up with the orders, LOL.

Looks like we need to wait a little longer for the next move upward in price.

Gosh they do take some shifting. Mind it should also be the same the other way.

cheers GF.