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.

Also a long term holder in these - looks a proper company, operating in strong markets with high quality customers. After a quick look at the numbers, my only area of concern is that trade receivables relative to turnover appears to have grown substantially, which in turn has affected cash generation. Liquid position still very strong, but hope just a month end glitch and not a sign that they are getting complacent.

i worked for this company for 3 months this year.........its badly organised.

however its dubai crap that keeps it going..........if it was uk, it would prob go bankrupt

you may well be right about internal management, but i am sorry to say, that that accusation can justifiably be applied to many if not most medium/large/huge companies - BOC, though just taken over by Linde, are a classic case.

however, PFC's clients both exisiting and new still seem to rate them highly, so perhaps they get something right

scott* ..... i take it you and PFC quickly discovered you did not like each other

This is a much undervalued company and one that is very cheaply priced at the moment - although I fully expect the share price to do very well in the very near future.
Should a bid come in from one of the oil majors the share price should pass 600 quite comfortably.

With oil hitting new highs today a bid could well be on the cards and sooner rather than later.
Present oil prices are here to stay and that can only mean one thing to oil related companies - higher profit ratios.
I agree with you Harry regarding the share price. It is too cheap and will pick up quickly once people spot that.
A really good opportunity for either a quick profit or as a longer term investment!

You are spot on there. With the oil price going through the roof the major oil players have plenty of money available and a takeover will imo happen very shortly.

Also good is the fact that when you buy this share you don't pay any stamp duty.

UK-based oil services company Petrofac said (last) Thursday that first-half net income rose 47 percent to $77.2 million and that it expected to exceed earnings expectations this year. "With strong demand for our services, we are confident that the group is well positioned to deliver 2007 results ahead of expectations and excellent growth in 2008 and beyond," Chief Executive Ayman Asfari said in a statement.

all good stuff, but i don't know where happy gets the idea that any oilie would be at all interested in taking over PFC, a service company

agree cynic - the idea is silly. as for being stamp-duty free, what good is that if the share price goes down?? !!! and should the oil price do down then the share price will follow. oil is high at the moment and can fall quite a bit.

PFC is only peripherally affected by price of crude

What a nice intra day chart.

Article posted on another board, posted by 'dislexy'.



http://www.thisisnorthscotland.co.uk/displayNode.jsp?nodeId=149212&command=displayContent&sourceNode=150624&contentPK=18430214&folderPk=85744&pNodeId=150607

great performance today as with so many other stocks .... just a word of caution all round, as (trust me!) the world has suddenly not turned all rosy and a sharp correction, even if temporary, after these huge rises must surely be due soon.

Your not kidding -):

Nice little divi (2.44p) coming this Tuesday if I'm not mistaken.

Just out,

"Petrofac says director sells 1 mln shares, cutting stake to 0.61 pct
AFX

LONDON (Thomson Financial) - Petrofac PLC said its director Keith Roberts sold 1 mln shares in the company at 468 pence, cutting his stake to 2.12 mln shares or 0.61 pct.

Whoops spoke to soon, need to do a re-think now.

makes no real odds .... he still holds 2m shares anyway

yep. he only sold approx 1/3 of his holdings. cant blame him, just under 5 mil should secure his and his families future.
i wonder where he is going to invest it?
im still watching and looking for an opportunity to buy back in, still like the company, but hope this director sale aint similar to that of Vog's.
regards
jkd

how can you mention VOG and PFC in the same breath?