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Another new contract - lightning protection maintenance at a portfolio of 16 Army Reserve Centres, so more lovely long-term recurring income: Http://www.ptsg.co.uk/news/electrical-services/new-contract-sees-ptsg-called-into-action-at-army-reserve-centres/
The contract wins are rolling in again.... A lightning systems upgrade in Chelsea: Http://www.ptsg.co.uk/uncategorised/ptsg-to-provide-lightning-protection-upgrades-at-chelsea-college-of-arts-following-contract-award/ Two year lightning protection at 37 sites for Rochdale Council: Http://www.ptsg.co.uk/news/electrical-services/ptsg-strikes-a-deal-with-rochdale-borough-council/ And perhaps most impressively: Http://www.ptsg.co.uk/news/electrical-services/ptsg-wins-contract-to-commission-lightning-protection-system-at-new-canary-wharf-station/ "PTSG wins contract to commission lightning protection system at new Canary Wharf Station Premier Technical Services Group PLC (PTSG) has been awarded a new electrical commissioning project at Crossrail’s new Canary Wharf Station PTSG’s Electrical Services division will supply a team of electrical engineers to provide testing and commissioning of the station’s lightning protection system, prior to the station being handed over to Crossrail. Sitting below a five-storey mixed-use development known as Crossrail Place, the new Canary Wharf station will help connect the district to the City of London, the West End and Heathrow. At the same time, it acts as a bridge between two communities – Canary Wharf Estate and Poplar to the north. The station is due to open in December 2018 when services will begin through central London. Trains will terminate at Paddington in the west and Abbey Wood in the east. PTSG is no stranger to working in Canary Wharf and has completed several projects in the district in recent years. The group’s Access and Safety division previously completed repairs to access equipment at the Canary Wharf underground station, and also delivers an ongoing contract to provide insurance inspections, testing and general maintenance at 8 Canada Square, HSBC’s global headquarters, located in the district."
Encouraging to see a subsidiary director buying �25,000 of shares at 188p: Https://www.investegate.co.uk/premier-technical--ptsg-/rns/pdmr-shareholding/201709290700101585S/
I was lucky enough to buy Restore at 34p and exited a happy bunny at �3.76, to purchase PTSG. Restore is a buy and build model focusing on high margin Facilities Management contracts. Restore's current price is �5.24. Once the acquired management has been paid off earnings per share and stock price rises as the position washed through. PTSG are following the same path as Restore. Many acquisitions then exceptionals which will wash through to be reflected in the earning per share and stock price. I would argue that PTSG's multiples and cash acquired for acquisitions have been outstanding. These were the two key comments for me from the Chief Executives Report "Turnover and operating profit have gained considerable momentum over the first half of the year, instilling confidence that we will be in a position of real strength by the year-end. So far 2017 has been quite unlike any other year in our ten-year history. It would be remiss of me not to reference the fact that the first half of the year was characterised by high-profile events which have had a significant effect on all who operate within facilities management". The next set of results will in part show how exciting this model, company and management is now and into the future. I also expect the management to sell the company as they did with MacLennan in 2006. Safety compliance changes to the FM industry will only strengthen PTSG. Strong long term buy. DYOR
Picked some up mid morning, been watching it for a while. Seems like a nice 'boring' one to add to my portfolio
Numis have today increased their price target to 205p (from 165p). They say Hold, but of course that was based on this morning's opening price.
Very good H1 results, with EPS up a lovely 21%. Most importantly, the outlook is extremely bullish. With the acquisitions during H1 PTSG look well set to meet or beat expectations for the year. And more acquisitions are likely of course. With "high value cradle installations" planned for this H2, plus the divisional reorganisation highlighting PTSG's fire safety attributes, the confidence about the rest of this year appears well justified: "PTSG has considerable opportunity ahead. Our unique operating model delivers high contract retention rates, very steady gross margin performance and healthy underlying organic growth rates and we continue to identify carefully selected acquisition opportunities where our operating model can be put to good effect. Collectively this gives the Board confidence that the Group is well positioned to maintain its current positive momentum. Since 30 June, trading has continued to be strong and we remain hungry to succeed, confident of our prospects and enthusiastic about the future both in the remainder of this year and beyond."
From the relationship between price and moving averages; we can see that: This stock is BULLISH in short-term; and BULLISH in mid-long term. On watch for clear above 202.50 with a short term target of 236.52. http://uk.stoxline.com/q_uk.php?s=ptsg
There's work on fire safety for blocks of flats for years to come post-Grenfell per this report today: Https://www.theguardian.com/business/2017/sep/24/grenfell-tower-work-to-upgrade-fire-safety-in-high-rises-could-take-years "Improving fire safety in high-rises after Grenfell blaze 'could take years' Completing repair work on the hundreds of buildings that have failed fire safety tests in the aftermath of the Grenfell Tower disaster could take years due to the scale of the task, according to a government document. etc"
Afternoon Rivaldo. I wouldn;t say the Wetherspoons one amounts to much unless it is high volume but the E.ON one certainly looks impressive. These contracts willl have to feed into the outlook and market forecasts at some time so the current SP is surely a gimme at sub 200p.
Incredibly impressive momentum it would seem. I like the sound of this nationwide contract with Wetherspoons: Http://www.ptsg.co.uk/news/electrical-services/ptsg-raises-the-bar-with-new-jd-wetherspoon-contract/ "PTSG raises the bar with new JD Wetherspoon contract Premier Technical Services Group PLC (PTSG) has secured a contract to provide nationwide portable appliance testing (PAT) services for UK pub chain JD Wetherspoon. Engineers from PTSG’s Electrical Services division will attend 120 pub sites around the UK to provide PAT testing, ensuring all portable appliances used at the pubs are safe to operate. The contract will require a dedicated team of PAT operatives to manage the specialised nature of the works. Founded in 1979, JD Wetherspoon currently owns just under 1,000 outlets...... etc" And also this major contract for E.ON: Http://www.ptsg.co.uk/news/electrical-services/ptsg-powers-ahead-with-e-on-uk-contract-win/ "PTSG powers ahead with E.ON UK contract win Premier Technical Services Group PLC (PTSG) has been awarded a contract to provide a bundle package of specialist services for energy company E.ON UK. Engineers from PTSG’s Electrical Services division will provide maintenance and testing services to fall arrest, lighting protection and mansafe systems, as well as fixed wire testing, to E.ON’s portfolio of distribution centres located across the UK. E.ON UK is a subsidiary of E.ON, the world’s largest investor-owned power and gas company. It is headquartered in Coventry and currently employs 15,000 people in the UK......" Finally, another nationwide contract for ScS Http://www.ptsg.co.uk/news/electrical-services/ptsg-brings-home-comforts-with-scs-contract-win/ "Premier Technical Services Group PLC (PTSG) has been awarded a contract to provide a bundled package of specialist services for home furnishings retailer ScS. The package consists of fall arrest and lightning protection testing and maintenance services, which will be carried out across ScS’s nationwide portfolio of distribution centres by specialist engineers from PTSG’s Electrical Services division. etc"
It's all go at PTSG - another 3 news releases..... A prestigious new contract win for GKN Aerospace doing electrical testing in Filton for Airbus: Http://www.ptsg.co.uk/news/electrical-services/ptsg-puts-pat-skills-to-the-test-with-gkn-aerospace-contract/ Plus what looks like a sizeable nationwide contract win "to provide a bundle package of specialist services for sofa and furniture retailing chain DFS": Http://www.ptsg.co.uk/news/electrical-services/ptsg-sitting-pretty-with-dfs-contract-win/ "As part of the contract, engineers from PTSG’s Electrical Services division will be deployed across the UK to provide maintenance and testing services to fall arrest and lightning protection systems on DFS’s nationwide portfolio of distribution centres." And also a new contract to provide quarterly maintenance of access equipment at Lumina House, a flagship building located in central London: Http://www.ptsg.co.uk/news/access-safety/new-contract-for-ptsg-keeps-lumina-house-in-order/
Even more news.... Lovely recurring income from "the renewal of a contract to deliver access maintenance works" at the new Francis Crick Institute: Http://www.ptsg.co.uk/news/access-safety/ptsg-provides-the-perfect-medicine-for-francis-crick-institute/ nd a new contract: Http://www.ptsg.co.uk/news/access-safety/ptsg-wins-race-to-deliver-new-contract-at-the-relay-building/ "PTSG wins race to deliver new contract at the Relay Building Premier Technical Services Group PLC (PTSG) has secured a contract to provide access system repairs to the Relay Building, located in the heart of London’s Aldgate district. etc" And another contract win: Http://www.ptsg.co.uk/news/access-safety/ptsg-stays-in-fashion-with-arcadia-group-contract-win/ "PTSG stays in fashion with Arcadia Group contract win Premier Technical Services Group PLC (PTSG) has been awarded a contract to perform maintenance to access systems at Arcadia Group’s headquarters in Berners Street, West London. etc"
.....all with lovely recurring income from testing, inspection and maintenance work: http://www.ptsg.co.uk/news/access-safety/ptsgs-high-fliers-go-back-to-college-with-new-contract-in-hand/ Premier Technical Services Group PLC (PTSG), has been awarded a contract to provide maintenance services to access equipment at Newham Sixth Form College in East London. Newham Sixth Form College, also known as NewVic, is London’s biggest sixth form college in the heart of East London, with over 2,500 full-time students attending a wide range of subjects and courses from specialist A-level pathways to advanced, intermediate and foundation level vocational courses. http://www.ptsg.co.uk/news/access-safety/ptsg-broadcasts-renewed-contract-from-124-horseferry-road/ PTSG has received a renewed contract to provide regular inspections to access equipment at 124 Horseferry Road in Westminster. 124 Horseferry Road is the headquarters of British television broadcaster Channel 4. It is located in the City of Westminster, and includes 100 residential apartments. PTSG’s Access and Safety division will attend the site to carry out six monthly inspections of the building’s mobile elevating work platforms (MEWPS). The inspections are carried out in accordance with Lifting Operations and Lifting Equipment Regulations 1998 (LOLER), which place duties on people and companies who own, operate or have control over lifting equipment. LOLER requires that all equipment used for lifting is fit for purpose, appropriate for the task, suitably marked and, in many cases, subject to statutory periodic ‘thorough examination’. Engineers from PTSG’s Access and Safety Division will attend the college quarterly to provide maintenance services to suspended access equipment, including cradle systems, rails and gantries." http://www.ptsg.co.uk/news/access-safety/ptsg-reaches-the-sky-with-new-contract-at-tower-42/ Premier Technical Services Group PLC (PTSG) has been awarded a contract to perform testing of access equipment at one of the tallest skyscrapers in the City of London. Tower 42 is a landmark building offering 324,000 sq. ft. of office space. It is a 42-floor skyscraper set in the heart of the City of London. The site is home to over 50 international companies and 3,500 people. The building is the third tallest skyscraper in the City of London and the eighth tallest in Greater London. PTSG’s Access and Safety division will deploy engineers to carry out six monthly inspection and testing of the building’s Skyjack system. The Skyjack is a compact self-propelled electric scissor lift, which provides access solutions to Tower 42’s highest points. PTSG’s engineers will carry out inspections to ensure this safety-critical piece of equipment is fit-for-use and working to the relevant compliance standards."
Looking forward to the results on the 26th. Should make an interesting read.
trade looks like a buy which must be a fund. Excellent statement of faith. There is more to come here for sure.
£2 already arrived. Excellent acquisition as Rivaldo said as this one is really gaining traction!
All over the TV and radio this morning - only 2% of council owned tower blocks in the U.K. have sprinkler systems, and recommendations post-Grenfell that .they should be compulsory. The timing of yesterday's acquisition of a sprinkler system installer and maintainer is perfect - and shows (once again) great foresight by PTSG's management: Long article on the BBC web site, but just one extract showing what this could be worth: Http://www.bbc.co.uk/news/uk-41148672 "Grenfell fire chief calls for sprinklers in tower blocks By George Greenwood & Katie Langton BBC News 2 hours ago" "Croydon Council, in south London, has taken the decision to retrofit sprinklers in its 25 high-rise blocks at a cost of £10m. Councillor Alison Butler, Croydon's deputy leader and cabinet member for homes, regeneration and planning, said: "Grenfell changed everything. It was horrifying."
today which should mean a run up to £2. Can we ask the sprinkler company to accept cash as we don't want to part with our shares :P? This company is in a sweet spot and oing all the right things. I only wish I had more shares.
I live in Bury so I google-mapped it to see where it was and it turns out to be virtually nest door to uk dry risers, another PTSG company, whose work must tie in with UKS's very well. Strategic. I don't know the road but from google maps both look like good sensible modern buildings, purpose-built in a good spot. Probably about 10 mins across Bury to the M66, 3 mins from the big M6O/M66/M62 junction on the north side of Manchester. Also close to the fire station. Good spot, and Bury's a nice town. Welcome! Would expect this to be good for everyone.
Looks like an incredible bargain of an acquisition! £2.5m maximum being paid for £0.8m PBT and £0.7m net assets. Plus it's for a sprinkler systems installer and maintainer - perfect in the current post-Grenfell climate: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PTSG/13359092.html "PTSG, the niche specialist services provider, is pleased to announce that it has extended its fire safety solutions business to encompass the installation and maintenance of sprinkler systems through the acquisition UK Sprinklers Ltd. Based in Bury, UKS is a specialist in the installation of sprinkler systems. It has been acquired for a total consideration of up to £2.5m, comprising an initial cash payment of £1.3m, two fixed deferred cash payments of £0.1m payable on the first and second anniversaries of completion and a contingent payment of £1.0m payable over three years, subject to the business achieving stretching and escalating milestone profitability targets in each of those periods. The deferred consideration can be paid in cash or shares at the sole option of PTSG. Unaudited revenue of UKS for the year ended 31 January 2017 was £3.5m, delivering a profit before tax of £0.8m. Unaudited net assets at the same date were £0.7m. The businesses will be integrated into PTSG's Fire Solutions business. Mike Charlton and Steven Griffiths of UKS will remain with the Group and work with PTSG's management team to grow and expand the acquired business. Paul Teasdale, CEO of PTSG, said: "We warmly welcome UKS to the PTSG Group. The business is well established and respected in the UK and their addition to the Group expands our service offering in our Fire Solutions business. We look forward to working with Mike and Steven and their colleagues on growing the business and expanding the Group's activities in these key areas."
Very encouraging RNS today: - the UK Dry Risers acquisition has performed so well that the full deferred consideration is due - the owners have requested that the £860,000 consideration be paid in shares in PTSG rather than in the previously arranged cash. This shows a terrific confidence in the business going forward....
Another two contracts - I particularly like the 10-year recurring income in the first one:: http://www.ptsg.co.uk/news/access-safety/new-ptsg-contract-keeps-insurers-covered-at-100-leadenhall-street/ Premier Technical Services Group PLC (PTSG) has been awarded a long-term contract to provide inspections of access equipment at The Chubb Building, 100 Leadenhall Street in London. 100 Leadenhall Street is the headquarters of Chubb, the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The building is a 10-storey high-rise building located in London’s prime EC3 insurance location. As part of the inspection contract PTSG’s Access and Safety division will deploy cradle maintenance engineers to perform yearly inspections and servicing of the building’s cradles for the next 10 years. http://www.ptsg.co.uk/news/electrical-services/ptsg-rules-britannia-with-new-contract-at-music-site/ Premier Technical Services Group PLC (PTSG) has been awarded a lightning protection installation contract at a landmark residential development in Ilford’s town centre. The Britannia Music Site will feature 354 new homes in a mix of one, two and three-bedroom apartments in a range of blocks including a 24-storey tower. The development was acquired by property company Durkan in 2007, who have worked with JLL to bring it to market as an investment opportunity. The development features heavily in the Ilford Housing Zone Plans and will deliver a key part of the town centre’s regeneration. Engineers from PTSG’s Electrical Services Division will attend the Britannia Music Site to install lightning protection systems to a range of new apartment blocks. All systems will be fitted to BSEN 62305 standards and will protect the development from potential structural damage and ensure the safety of residents in the event of a lightning strike.
Http://www.ptsg.co.uk/news/electrical-services/ptsg-awarded-lightning-protection-contract-as-part-of-spine-remodelling-project/ Premier Technical Services Group PLC (PTSG) has been working at Lancaster University to provide a lightning protection upgrade as part of an extensive building remodelling project. ...PTSG’s Electrical Services division has worked closely with the project’s designers to discreetly reinstall lightning protection systems to the site. The work required a careful and detailed planning process due to the entire site remaining open to students at all times. The project spans 58 weeks in total and is due for completion in Spring 2018. PTSG is no stranger to working in the education sector, and provides a wide range of services for a number of educational facilities, including universities in Hull, Sheffield and Southampton. Http://www.ptsg.co.uk/news/electrical-services/ptsg-wins-contract-to-protect-new-residential-development-for-telford-homes/ Premier Technical Services Group PLC (PTSG) has been awarded a contract to install lighting protection systems at a new residential development in East London for Telford Homes. ....PTSG’s Electrical Services division will deploy engineers to provide new lightning protection systems at the residential sites, protecting them from potential structural damage in the event of a lightning strike, and also protecting future tenants. PTSG’s Electrical Services division has been regularly deployed throughout London, providing lightning protection schemes for multiple housing association clients, including Paragon Community Housing, Metropolitan Housing and the Decent Homes Initiative."