posted
No, things are looking very good indeed! See Parent trading statement 31 March 2006.
Forward order book is £19M!, Sales are upped from 17m to 20m for 2007, EPS is raised... and company is now trading profitably. They'll do c£12m ($21m), for 2006 when results are formally announced in June - that's nearly 3x last year. Rig rates are also rising so they don't need 2x the work to get 2x the profit.
To find how good things really are, you need 2 recent research notes from Edison, Hardman ...
Once the market sees that on 2006 estimates PMHH has a PE of only 4.5! compared to industry of nearer 20, this will start to attract interest, and go back to the $1.50-$2.00 price it should be.
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