Pressure Technologies PLC (PRES)

[WickedLester]

Here's a company which may be a beneficiary of the move to a net zero economy.

https://www.pressuretechnologies.com/

I was in two minds about investing in these as they have been shockingly accident prone over the last few years but things may finally be looking up for them.

They have two divisions, Chesterfield Special Cylinders and Precision Machined Components. The green angle comes from CSC which is picking up increasing orders for hydrogen storage tanks and made a decent profit last year. PMC sells mostly into the oil and gas market so probably lacks green credentials but they are trying to diversify away from this into emerging technologies. This business is currently loss making.

Anyway the orders for hydrogen storage grew from £0.2m in 2020 to £2.2m in 2021 and the company is increasing capacity to accommodate further growth.

This year overall they expect to report a modest loss but after a fundraising the balance sheet is strong and the company trades at about the level of net tangible assets (£20m).

The end of year trading update is here:

https://www.investegate.co.uk/pressuret ... 00011533S/

The final results should be out in a couple of weeks time and they might be worth keeping an eye out for.

[WickedLester]

There's an AGM trading update out today and it looks quite good.

https://www.investegate.co.uk/pressuret ... 00086818G/

Momentum continues to build in the fast-developing hydrogen energy market and the visibility of future demand from existing and new customers is steadily increasing as the role of hydrogen is acknowledged in net zero carbon targets for transportation and industrial decarbonisation. As expected, during the first half of the year, the pipeline of opportunities for static and mobile hydrogen storage systems for delivery in the remainder of FY22 and FY23 grew significantly.

The market seems to have liked the update with the shares rising 17.5% today.

I'll continue to hold.

[UncleEbenezer]

Well done.

I shall look forward to your next share tip here. Of course if I end up investing, it'll then prove the dud.

[WickedLester]

This is another one of my share ideas that had a brief day in the sun before falling to yearly lows after a profit warning.

https://www.investegate.co.uk/pressuret ... 00087017A/

The price fell too far IMO and I bought some more at 30p or so. In fact the price has fallen so far that these now trade at a discount to NTAV and this has attracted the interest of Peter Gylenhammar who has been building a stake. Chris Mills who I have a lot of time for has also been building a stake.

I think this will get broken up and parts sold off at some point and I still think CSC is a good business although it is erratically profitable.