Pressure Technologies – argues “pleased to announce” results, so what of a share price response more than 10% lower?

Most recently on Pressure Technologies (PRES), last year with the shares falling to 34p I wrote interims state “resilient market conditions”, but though still a loss? and concluded re-iterating prior caution. The shares most recently closed at 38.5p but what of them currently more than 10% lower on the back of argued “pleased to announce” results for the company’s year ended 28th September 2024?

Pressure Technologies (#PRES) – completes sale of Precision Machined Components business for £6.2m Enterprise Value and up to a further £1.5m

Pressure Technologies – interims state “resilient market conditions”, but though still a loss?

Specialist engineering company Pressure Technologies (PRES) has announced results for its half-year ended 30th March 2024 including highlighting “revenue of £15.0 million (2023: £13.8 million)” and “resilient market conditions during the first half of FY24 with new defence contract placements and continued growth in the oil and gas market”. So what of a current 34p share price, down approaching 13%?

Pressure Technologies (#PRES) – H1 still a loss and operational delays and delayed order placement

Pressure Technologies (#PRES) – awarded two contracts as expected, notes “a number” of indicative offers for Precision Machined Components division

Pressure Technologies (#PRES) – agreement in principle for £1.5m term loan facility from major shareholders including to refinance existing debt

Pressure Technologies (#PRES) – FY update, outlook for “revenue and profitability to increase slightly”

Pressure Technologies – prior accounting treatment “not permitted”, audit delay and shares suspension ahoy!

Previously writing on specialist engineering company Pressure Technologies (PRES), in November I questioned why should confidence be put in now that it has the bridge to profitable, cash-generative trading in the year ahead and that dialogue with the bank seems to always be “constructive” until it suddenly isn’t. Today an “Update on FY22 Audit, AGM & Current Trading”-titled announcement.

Pressure Technologies (#PRES) – required results adjustments and audit delay, argues still ‘foresees’ return to profit this year

Pressure Technologies – “pleased to confirm… successful completion of the fundraising”. Really?

Previously writing on specialist engineering company Pressure Technologies (PRES), in September I concluded ‘even with the shares currently down to a 36p share price, £11.2 million market cap, the current trading and financial situations mean I hope the prior warnings here were heeded and suggest to continue to avoid’. The company is now “pleased to confirm… the successful completion of the fundraising at the issue price of 30 pence per share”. How ‘pleased’ should it be?

Pressure Technologies (#PRES) – proposed up to £2m placing at 30p per share and up to £0.5m REX offer

Pressure Technologies – recovery “significantly below that anticipated”… and what about the balance sheet I warned of?

Previously writing on specialist engineering company Pressure Technologies (PRES) in 2020 with the shares down to below 53p, having previously written with they just below 130p, I concluded ‘I retain that, particularly with the balance sheet and despite the shares having more than halved since, I’d want to see convincing overall trading recovery evidence before reconsidering the stance to avoid’. The shares most recently closed at 63p... but today a “Full-Year Trading Update”.

Pressure Technologies (#PRES) – H2 recovery “significantly below that anticipated”, bank discussions as anticipates covenants breach

Pressure Technologies (#PRES) – “increasing order book… remains confident in meeting full-year market expectations”

Pressure Technologies if this is value creation rather than executive greed I am a monkey’s arse

AIM sewer-listed Pressure Technologies (PRES) says that it has established a new executive incentive arrangement, the Pressure Technologies plc Value Creation Scheme  which “provides a strong motivation to executive management to maximise the performance of the Group in a manner that is closely aligned with the interests of the Company's shareholders.” Oh yeah.  If so I am a monkey’s arse

Pressure Technologies (#PRES) – audit-delayed results now scheduled for 18th January, expects them in line with expectations

Pressure Technologies (#PRES) – notes FY loss, though a now stronger outlook for the oil and gas market

Pressure Technologies (#PRES) – “encouraged by the progress being made”, in line with expectations

Pressure Technologies (#PRES) – raises £7.5m at 60p per share including via PrimaryBid

Pressure Technologies – argues “growing diversification and sustainability”, But...

Previously writing on specialist engineering company Pressure Technologies (PRES), in 2018 with the shares just below 130p I concluded particularly with the noted balance sheet, I’d want to see evidence of strong, sustainable recovery in trading from here before reconsidering my stance to avoid. Today a “Full Year Trading Update” – and the shares currently 10% further lower, at below 53p...