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General Information

Programmed Maintenance Services Ltd
PRG
http://www.programmed.com.au
Environmental & Facilities Services
320
119

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$2.70 $2.80 $2.80 $2.67 $2.72 871931 $0.02 ( 0.74% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Strong Buy
01/07/2015
1

Company Overview

Business Description
Programmed Maintenance Services Ltd (PRG) is an Australian company engaged in the provision of staffing, maintenance and project services through a network of over 100 branches. PRG operates in three main divisions which are Integrated Workforce, Property & Infrastructure and Resources.
Strategy Analysis
PRG has undergone a significant transformation in recent years. Successfully merging with Integrated, acquiring SWG and the divestment of Barry Bros. The company strategy is to become a leading provider of staffing and maintenance services. The diversification and geographical expansion aims to maintain earnings growth, increase cross-selling opportunities and generate cost synergies. PRG have also implemented a new divisional structure to reflect the greater size of the group and support staffing and maintenance services growth across most industry sectors. Programmed Maintenance Services reported NPAT up 6.23% to $12.33m for the half-year ended 30 September 2012. Revenue from ordinary activities were $757.7m, up 16.2% from last year. Diluted EPS was 10.2 cents compared to 9.8 cents last year. Net operating cash flow was $19.05m compared to $16.95m last year. The interim dividend declared was 5 cents, compared with 5 cents last year.

Financial Summary

Year to Mar NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2017 F 0.0 27.9 5.6% 9.7 18.0 6.7% 0.0%
2016 F 0.0 26.5 4.5% 10.2 18.0 6.7% 0.0%
2015 A 31.0 25.3 1.2% 10.4 18.0 6.8% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2015 A 2016 F 2017 F 2015 A 2016 F 2017 F 2015 A 2016 F 2017 F
Programmed Maint. (PRG) $323M 0.0120 0.0455 0.0563 10.7510 10.2836 9.7351 6.62% 6.62% 6.62%
Tox Free Solutions (TOX) $410M -0.0817 0.0274 0.0728 17.4658 17.0000 15.8467 1.96% 2.42% 2.42%
Transpacific Ind. (TPI) $1,201M 0.0000 0.0000 0.3881 0.0000 28.3582 20.4301 1.97% 1.84% 2.96%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.65 10.55 0.77 2.07
Market 0.92 16.30 1.32 1.30
Sector 0.84 13.60 1.44 1.00

Directors

Name Position Start Date
Mr Christopher Glen Sutherland Managing Director 21/01/2008
Mr Bruce Robert Brook Non-Executive Chairman, Non-Executive Director 16/06/2010
Mr Robert (Bob) John McKinnon Non-Executive Director 14/11/2011
Mr Jonathan Gladstone Whittle Non-Executive Director 08/06/2007
Ms Emma Rachel Stein Non-Executive Director 16/06/2010
Ms Andrea Elizabeth Grant Non-Executive Director 17/09/2012

Management

Name Position
Michael Waymark Chief Executive Officer, Facility Management
Nicolas Fairbank Chief Executive Officer, Integrated Workforce
Glenn Thompson Chief Executive Officer, Property Services
Glenn Triggs Chief Executive Officer, Resources
Stephen Leach Chief Financial Officer,Joint Company Secretary
Stephen Taylor Chief Strategy & Marketing Officer
Katina Nadebaum Joint Company Secretary

Substantial Shareholders

Holding Name
11,001,364 (9.27%) Delta Lloyd NV and its associates
9,716,654 (8.22%) Invesco Australia Ltd
7,110,225 (6.01%) Dimensional Entities

Calendar of Events

Date Event
25 May 2016 Report (Annual)
25 May 2016 Report (Prelim)
17 November 2015 Report (Interim)
29 July 2015 AGM
24 July 2015 Div Pay Date
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