Substring function in UNIX shell script

Hi All,

Following is the output of a find commnd to locate log directories for various projects of UNIX AIX box:

/home/hbinz6pf/projectlibs/dpr_pfsdw_dev/&PH&
/opt/tools/ds/Template/&PH&
/data/ds/ms/hmsdw/projectlibs/dpr_ms_dev/&PH&
/data/ds/riskmi/projectlibs/dpr_riskmi_dev/&PH&
/data/ds/pfs/pfsdw/projectlibs/dpr_pfsdw_dev/&PH&

Form each string I have to get substring of a directory name before the &PH& directory. The output should look like following:
dpr_pfsdw_dev
Template
dpr_ms_dev
dpr_reskmi_dev
dpr_pfsdw_dev

Can somebody help me to write this command.
Thanks for your help in advance.

Regards,
Shekhar

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