Anyone hazard a guess as to whether the big 270,000 turnover was a buy or sell. Good positive movement here today after little movement for a forthnight, maybe word on the Aiden deal with Severn water is starting to bubble to the surface

Looking at the charts and posting boards it does not look like the company had a lot
going for it. Being a small company with a 50 odd workforce this new business means a lot in these times. I will keep an eye on it Monday.

hangon, I see you posted here Dec 04 do you still have the stock?

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A long time ago I know, the sp was 62p 1st quarter of 2002.

Looks like the order book is up. With a 225,000 profit before tax. This included
a 625,000 claim received.




Tuesday 08 March, 2011Pipehawk PLC
Half-yearly report





8 March 2011

Pipehawk plc
("Pipehawk" or the "Company")

Half-yearly results for the six months ended 31 December 2010

Chairman's Statement

I am pleased to report that the Company's turnover in the six months ended 31
December 2010 was 1,711,000, an increase on the corresponding period last year
of 8.1 per cent. (2009: 1,582,000), resulting in a profit before taxation of
225,000 (2009: loss 334,000). This includes the sum of 625,000, received in
respect of the settlement of claims brought against a third party.

In the period under review, PipeHawk continued to develop new GPR products and
as a consequence has, in the six months ended 31 December 2010, capitalised
approximately 128,000 of research and development expenditure. I can report
that sales and hires of our e-Spott product continue to develop as the e-Spott
becomes part of 'best practice techniques'. We have continued with the
development of a mini "customer friendly" e-Spade - a pipe and cable avoidance
product.

Adien operates in the large infrastructure project part of the construction
industry. During the period, Adien recovered some of the ground lost in the
period 2008 to 2010 when the construction industry was badly effected by the
recession. The severe weather in early December resulted in some loss of
production, which is reflected in these figures, but I am pleased to report that
orders received in January and February have been good in comparison to previous
years.

During the period QM Systems has seen a significant upturn in workload and order
intake and I am pleased to report that at the end of December QM was sitting on
a far healthier order book. Prospects look very buoyant as the business seeks to
capitalise on its strategy of offering complete turnkey solution to its clients.
QM has developed its sales strategy to offer engineering solutions consisting of
consultancy, special projects and products in the fields of assembly, automation
and test systems. The consultancy business has grown fourfold and now attracts
some very prestigious clients.

QM's commitment to research and development of products has continued with the
development of a system to test LED / Filament light clusters, which we are
hoping to sell across Europe. In addition, development of the Lightning Strike
Protection System has continued with a high power variant soon to be released.
Opportunities with several other niche products are also being explored.

In the period, QM completed a restructure of its operational activities which we
anticipate will lead to the leveraging of greater profit from the activities
that it undertakes.

SUMO has also made progress in the period under review and is now at a breakeven
point.

Related party transactions

During the period I have continued to provide financial support to the Company
through director loans, amounting to 625,000. Consequently, the loans advanced
by me to date aggregate to 2,116,000 in addition to 1 million of Convertible
Unsecured Loan Stock 2014 ("CULS"). The loans have been made in accordance with
a letter of support dated 12 November 2010. The loans are unsecured and accrue
interest at an annual rate of base rate plus 2.15 per cent.

The Directors (other than myself), consider, having consulted with the Company's
nominated adviser, that the terms of the loans are fair and reasonable insofar
as the Company's shareholders are concerned.

In addition, my fellow directors and I have deferred a certain proportion of our
salaries and fees until the Company is in a suitably strong position to make the
full payments. These deferred fees amount to approximately 119,000 in the six
month period ended 31 December 2010 and approximately 1,058,000 in total, all
of which have been accrued in the Company's accounts.

Gordon Watt
Chairman

The company has a long way to go. It has loans and the directors are owed salaries.
Short term it has been good to me, not sure about long term. Needs more orders with profit to start building. Not so easy in these times.

dc - hello mate and well done selling at a profit

pip has been on my radar for a while - but i missed this excellent rise as wasnt in!!! lol

however i believe 2012 will be a better year contract wise - others are watching pip and no one serious likely to buy at these levels hence low t/o shares last week

but do keep this in mind:

a staff of around 50 + as a rule of thumb really needs a t/o exceeding or in the region of 3 to 5M to be profitable - so 400k contract win no great shakes imo

pip margins in rail will be low - maybe as low as + 3% over cost

however what do they have in the funnel / pipeline that is the question of course

imo you did the right thing cashing in - and - lol i have got to wait for this sp to drop again b4 i can consider this one - i might be wrong but would be surprised if i am (famous last words!!!)

at t/o for 6 mths give or take 1.7M pip are at low end of a break even to near profit ratio

watch the convertibles - yeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaa

forgot - also did they say when the contract win starts and for how long et cetera?

Thanks gibby. I also note in the 8th March note, 6 months turnover was 1,711,000
of which 225,000 profit. About an eighth of turnover to profit. Roughly an eighth of this new 400,000 order (50,000 profit) real rough i know. I think the work was going to be done 1st quarter of 2012. They need a lot more future orders?

The groups subsidiary QM Systems signed the deals with Knorr Bremse Rail Systems UK Ltd (KBRS). It will provide production and test facilities for KBRS that will be installed and commissioned in the first quarter of 2012.

AS dragons den would say ' I'm out' lol

cheers dc - q1 2012 - ok ta - & lol yes i think 'i'm out'is best for the moment - and agreed if you were sitting in that chair with a wad of cash at your side and pip walked in i would be firing loads of questions at them - maybe pip will be in the next show lol!!

that so called profit they state - it all depends how that is calculated - dont have time to look at their balance sheet right now but i bet that is gross rather than net (i.e. bottom line) - if gross no where near as good / almost hardly worth the bother at these levels

and yes defo need more orders preferably larger ones!! gl

http://moneyam.uk-wire.com/cgi-bin/articles/201110120700180047Q.html

up 20% today

WOW! PIP has put on a little, sp now just over 3p.

I guess I should be trading this loser......OP suggested �1, Ho-Ho-Ho!

Gibby, inclined to agree, profits are very poor - I guess they haven't really found the commercial use for this tech . . . maybe now is the time for them to move into something else? ....... BTW I get very confused by their other divisions and suspect at least one is always dragging down the others.......Ho-Hum.

EDIT (7Feb2013)- I see GW has managed to buy a lot of shares at 1.5p - yet the sp never went below 3.1 (DYOR), so maybe he knows a good Broker? (or, one only happy to shift dead stock, eh?)
EDIT 13Dec2013:- AGM today, sp rises 10%=now 5p, yet Dir GW buys £12k-worth at 1.5p showing an enormous profit for a small stake . . . how'zatt?