Programmed Maintenance Services Ltd (PRG)

Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!

General Information
Company Name: Programmed Maintenance Services Ltd
Stock Code: PRG
GICS Sub-Industry: Diversified Commercial & Professional Services
Market Cap ($M): 308
Equiv. Shares (M): 119

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 2.600 $ 2.560 $ 2.600 $ 2.530 $ 2.530 92,993 $ 0.070  2.767 %

Current Broker Consensus Recommendation more
Recommendation: Hold (3)
Recommendation Date: 23rd Oct 2014
Brokers Surveyed: 2

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 (%)
2016  F -- 28.9 8.4 9.0 18.0 6.9 --
2015  F -- 26.7 6.6 9.8 17.0 6.6 --
2014  A 30.5 25.0 -10.1 10.8 17.0 6.3 100.0
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Brambles (BXB) $14,658 M -0.1222 0.1466 0.1093 22.8739 19.9488 17.9827 2.88 2.91 3.05
Downer EDI (DOW) $1,977 M 0.0083 0.0115 -0.0045 9.8696 9.7571 9.8014 5.07 5.07 5.46
Mineral Resources (MIN) $1,586 M 0.3748 -0.9404 7.2130 6.3270 106.1404 12.9234 7.32 2.36 4.31
Programmed Maint. (PRG) $300 M -0.1007 0.0660 0.0837 10.1200 9.4934 8.7604 6.72 6.74 7.11
Transfield Services (TSE) $994 M 0.2435 -0.0440 0.0273 11.2399 11.7576 11.4454 0.00 2.06 3.61

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
PRG 0.66 10.02 0.75 1.34 0.22
Market 0.91 15.3 1.22 1.74 1.54
Sector 0.82 13.8 1.43 1.26 0.75

Name Position Start Date
Mr Christopher Glen Sutherland Managing Director 21 January 2008
Mr Bruce R Brook Non-Executive Chairman,Non-Executive Director 16 June 2010
Mr Robert (Bob) John McKinnon Non-Executive Director 14 November 2011
Mr Jonathan Gladstone Whittle Non-Executive Director 08 June 2007
Ms Emma Stein Non-Executive Director 16 June 2010
Dr Andrea Grant Non-Executive Director 17 September 2012

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 Finance Officer,Company Secretary
Katina Nadebaum Company Secretary

Substantial Shareholders
Holding Name
6,095,445 (5.15%) BT Investment Management Limited
9,919,121 (8.39%) Invesco Australia Ltd
7,013,134 (5.93%) Dimensional Entities
9,768,084 (8.26%) Delta Lloyd NV and its associates

Calendar of Events
Date Event
27 May 2015 Report (Annual)
27 May 2015 Report (Prelim)
26 November 2014 Report (Interim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at


Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Optimising Your Portfolio

An educational booklet that will point out what you need to know to use options effectively for additional income and risk management.

More details...


Aussie share market bulls now have company

Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 | Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.

The Importance of Ignoring the Noise of the Market

Carl Richards, director of investor education at the BAM Alliance 17/10/2014 | “As odd as it may sound, the sooner you start treating your investments like you treat life, the happier you’ll be with the outcome.”

You only dance twice

William H. Gross, Janus Capital Group 16/10/2014 | “Financial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding “minus” 10 basis points.”

The Big Picture - Australia 200 Index

CMC Markets 8/10/2014 | Share market indices around the globe are breaking down. While analysts cast around for reasons, it’s clear that a time factor is in play. Simply put, many investors “feel” a correction is overdue. How low could it go?

Billionaires bankroll Ten's new direction Media Network sees digital future

The Age 19/12/2013 | Ten Network's programming ambitions will be funded by a $200 million loan guaranteed by three of its billionaire owners, as the free-to-air broadcaster declared digital was the future and pointed to early signs that its switch to an older market demographic was working.

Elders alleges $24m fraud in live cattle division

The Age 19/12/2013 | Troubled rural services group Elders is threatening to call in the police over an alleged $24 million fraud by a "handful of individuals" in its live cattle exports division.


Sponsored Links