On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

Full year results - 26th February.

StockMarketWire.com
Analysts at Investec have made a number of recommendation and price target changes after revisiting their stance on the oilfield services sector. The broker said that, despite rising costs and ongoing pressures around cashflow, it believes capital expenditure will continue to rise in the oil sector, albeit at a slower but more sustainable rate than seen in previous years. We believe the Oilfield Services (OFS) sector's long-term secular growth story is still intact and valuations are not stretched, analysts said in a note to investors. The broker highlighted "buy" rated Petrofac (LON:PFC) and Kentz (LON:KENZ) as its top picks. In terms of changes, Investec has upgraded Lamprell (LON:LAM) to "hold" from "sell" and Wood Group (LON:WG.) to "buy" from "hold" but downgraded AMEC (LON:AMEC) to "hold" from "buy". Price targets have been increased to 155 pence a share (from 145 pence), in the case of Lamprell, but cut to 720 pence (from 900 pence) for Wood Group and to 1,065 pence (from 1,300 pence) for AMEC.

PFC have been having a good few days, and not without reason and none too soon either
however, unless you're already a holder (i am), i would question the logic of diving in until there was a decisive break through 1300, being the current 200 dma level

BIG BIG :-)

up another 20p this morning on latest rns, on what is a very shitty start generally

told you all to pay attention!
:-)

Profits warning! http://www.moneyam.com/action/news/showArticle?id=4807607

..You were saying Alf -):

that was a shitbag happening :-((

There was a similar dive in SP last November, so a recovery play on the cards for this one in the future no doubt.

You're right Stan. I was just looking at that, but that was based on the expected figures being 'flat to very modest growth'. The figures came in worse than expected and together with the summer lull in the markets, I have a feeling this is due to fall yet further. On my watch list.

Absolutely HC.

I have these down as IMS on 15th - so I assume they have brought it forward? (I don't closely follow these).

as i've got this one i fear i shall just have to sit tight

just noticed...........

cynic - 07 Mar 2014 15:56 - 548 of 555
told you all to pay attention!
:-)

pay attention is rising

You forgot to say....... profit warning on the way

another sit tight then will be

damn right i did :-)
were i cassandra, then perhaps i would have foreseen a profit warning coming several months along the way and taken the appropriate action
unfortunately, not even you with all your loudly and self-promoted wisdom and expertise, could let alone did see it coming either :-)


but yes, i shall indeed just sit tight

dam right, I have more wisdom and expertise than some,
but as it happens is not a share I follow to give you the advise you ALWAYS need it seems.

it's a company i have long followed as it's an area in which i have some interest

i have no problem at all in considering or even accepting advice from others, and yes indeed you certainly have expertise in areas where i do not ..... though inevitable that is not infallible as i hope you would at least admit to yourself

The oil services company said 2014 net profit would fall by as much as 11% due to the poor performance of its Integrated Energy Services (IES) unit. Its order backlog had risen to a record $18.6bn in the first quarter from $15bn at the start of the year. Mid-cap power station operator Drax also issued a 2014 profit warning as power prices fell.

Why have power prices fallen, maybe something to do with the warmer weather and less demand for power.... Just a thought, not all anyway..

Another one to dive....unbelievable the number of good firms taking a blow this year...

synposis (please note you guys who seem incapable!) from a longish Lex article in today's FT ......


Steady order intake is needed to head off fears of a third profit warning
even after the latest downgrades, Petrofac looks cheap relative to its high returns on capital.
return on capital (equity plus total debt) was 18 per cent in 2013. Although half of what it was two years ago, it is three times the average of Petrofac’s main competitors.
Petrofac’s price to next year’s estimated earnings per share will probably come to rest well under 10 times, cheaper than all its peers.
The low earnings multiple hints that the market is sceptical of Petrofac’s ability to end the nasty surprises. The company had a well-earned reputation for excellent project execution. What it needs now is some steady order intake in the months ahead to head off fears that old adages are true.