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The emphasis on acquisitions is also interesting, and suggests more will be on the way soon: "We have a healthy pipeline of potential acquisitions to complement our unique business model, and will continue to appraise opportunities as they arise."
No worries here after the RNS..... although I will admit I had my finger hovering over the sell button yesterday! Glad that I didn't sell now!
Excellent - 2017 results nicely in line, and then..... "In addition, the Board expects that the results for the year ended 31 December 2018 will be materially ahead of current market forecasts" In particular, Sprinklers are racing ahead "with a very strong order book and pipeline". Carillion is almost a non-issue with only a minor receivable due and all work set to be picked up by others. The "materially ahead" statement should concentrate minds nicely :o))
Today’s RNS suggests limited!
I know we have contracts with Carillion, anyone know the size or potential impact?
Looks like Fire Safety work is coming to the fore now - three new contract announcements for sprinkler and wet and dry riser system installations to a luxury residential complex in London, another in Manchester, and to Salford Media City: "PTSG calls in its Fire Solutions cavalry with Royal Arsenal contract" - Http://www.ptsg.co.uk/news/ptsg-calls-in-its-fire-solutions-cavalry-with-royal-arsenal-contract/ "PTSG Fire Solutions go live with MediaCityUK contract Premier Technical Services Group PLC (PTSG) has completed an installation of fire protection systems at Salford�s MediaCityUK development." Http://www.ptsg.co.uk/news/ptsg-fire-solutions-go-live-with-mediacityuk-contract/ "PTSG installs sprinklers and dry risers in new apartment contract Premier Technical Services Group PLC (PTSG) has delivered an extensive fire solutions scheme at a residential complex in Manchester�s Regent Road." Http://www.ptsg.co.uk/news/ptsg-installs-sprinklers-and-dry-risers-in-new-apartment-contract/
There's a number of new contract wins and renewals on the web site (yet again),: http://www.ptsg.co.uk/news/ including Stansted Airport, a pharmaceutical company, a hospital, Castle Quay Shopping Centre, a university, and also this re "one of London’s tallest residential towers" "to keep residents and building-users safe" - which might lead to further work on sprinkler systems, cladding etc: Http://www.ptsg.co.uk/news/access-safety/ptsg-building-links-with-one-of-londons-tallest-residential-towers/
Welcome hybrasil, you've picked a good 'un imo :o)) There's a number of new contract wins and renewals on the web site (yet again), including Stansted Airport, a pharmaceutical company, a hospital, Castle Quay Shopping Centre, a university, and also this re "one of London’s tallest residential towers" "to keep residents and building-users safe" - which might lead to further work on sprinkler systems, cladding etc: Http://www.ptsg.co.uk/news/access-safety/ptsg-building-links-with-one-of-londons-tallest-residential-towers/
Six new news items this week! Five contract renewals and wins, but this news item is the most important: Http://www.ptsg.co.uk/news/fire-solutions/ptsg-fire-solutions-supports-building-regulations-interim-review/ "PTSG Fire Solutions supports building regulations interim review Premier Technical Services Group PLC (PTSG) says it has teams on standby across the UK to carry out building improvements after an interim review prompted by the Grenfell Tower disaster raised concerns about current regulations. Dame Judith Hackitt, who is leading the review, urged an end to the culture of “doing things cheaply” when building and refurbishing high-rises. The report highlights a range of fire protection measures, including sprinkler systems and smoke ventilation, that could be added or amended in existing buildings. It calls for the retrofitting of such safety features, warning “it is not sufficient” for regulations only to require up-to-date technology in new buildings. It also urges the improvement of testing, marketing and quality assurance of products used in construction, alongside a raft of other changes including better enforcement of regulations. PTSG’s Chief Executive, Paul Teasdale, said: “At PTSG, we have forged our strong reputation by understanding the importance of putting safety first in whatever activities we carry out. We work on a huge range of buildings, with much of our work taking place at height or in hazardous environments, and therefore must always maintain a rigorous approach to health and safety in all our activities.” PTSG’s comprehensive fire solutions provision comprises of the installation and maintenance of wet risers, dry risers and sprinkler systems, emergency lightning and fire extinguisher services. Paul added: “We have teams at the ready to conduct maintenance or remedial works for organisations such as FM companies and local authorities across the UK. We offer consultancy, design and installation support which helps keep residents and building users as safe as possible, and deliver works to the highest possible quality.” A final report into fire safety regulations in buildings is expected in spring next year."
Are we expecting an update in early January like recent years? Perhaps we'll get an acquisition update around the same time?
Cheers for the updates
Cheers richtips, appreciated! Lots more news - lovely recurring annual maintenance contracts: Woking Borough Council - a 3-year contract: Http://www.ptsg.co.uk/news/access-safety/ptsg-awarded-maintenance-contract-with-woking-borough-council/ Sutton Life Centre: Http://www.ptsg.co.uk/news/access-safety/ptsg-awarded-mewp-maintenance-contract-at-sutton-life-centre/ Plus repairs works to the Old Bailey: Http://www.ptsg.co.uk/news/access-safety/ptsg-to-rule-over-repair-work-at-the-old-bailey/ And BNP Paribas: Http://www.ptsg.co.uk/news/access-safety/ptsg-carries-out-further-work-for-bnp-paribas/ Plus lighting work at Debenhams: Http://www.ptsg.co.uk/news/building-access-specialists/ptsg-lights-up-debenhams-manchester-store-in-time-for-christmas/
I know this specific postingwas another user on ADVFN but thanks for your constant efforts for regularly posting updates here rivaldo! Always appreciated and whenever I see you on a share I’m thinking am always further swayed! Regarding the company, I love the constant quiet growth, we really are onto a gem here!
PTSG presented last night at a seminar in London. A poster (Glaws2) has kindly summarised the presentation as follows.....I'm particularly liking the fact that only 5% of customers only take one service - so much room for cross-selling and organic growth. And with 12 acquisitions being looked at it shouldn't be long before we get news. Above all PTSG sounds like it's an extremely well run company with an ambitious but realistic management. Which is more than half the battle. Here's the summary: "Thoughts from yesterday's ED seminar : The CEO (Paul Teasdale) comes across as a "Geoffrey Boycott on steroids" ! I wavered between being frightened and impressed. More so the latter on reflection. I certainly wouldn�t want to work for him but I can't find anything negative on glassdoor and their Annual Report has a lot of human interest stories from staff so perhaps he is less formidable in the working environment. He has been running the company for 10 years and in that time it has clearly grown impressively rather than self destructed. He is clearly extremely passionate about the company and the service it delivers. A few key points : � Expects organic double digit growth to continue � Only 5% of customers take more that one service � so clear opportunities for cross selling � Every maintenance contract delivers the same value again in repairs � 88% renewal rate � Focussed on delivering high GM � key to how the business is run. Not interested in low margin work. � Claims 100% utilization of engineers; uses repairs (not time critical) to flex availability � Their in house ERP system �Clarity� absolutely key in delivering efficiency � Claims this allows them to provide keenest prices with good service and retaining high GM%. � Ruthless in finding efficiencies � eg vans go for service at 5pm and ready for use at 8am next day � this is their culture � Majority of work is low value - �40m revenue � 17,000 customers; 90,000 invoices raised per year � There will more acquisitions � 50 odd in the pipeline � 12 being looked at in detail. Will track a company for 12-24 months before buying. Won�t pay > 5 EBITDA. Expect 50% of growth from acquisition. � Reckons there are 3 years ahead of competition"
Terrific news - new 5 year contract with Skanska to clean a massive 430 buildings in London, including Mansion House, the Old Bailey, the Guildhall, London Wall and the Barbican...... Http://www.ptsg.co.uk/news/building-access-specialists/skanska-and-ptsg-awarded-five-year-high-level-cleaning-contract-with-city-of-london-corporation/ "Skanska and PTSG awarded five-year gutter cleaning contract with City of London Corporation "Following a successful existing collaboration, the City of London Corporation has awarded an extensive high-level cleaning contract to project development and construction group Skanska. The contract, which will be delivered by specialist services provider Premier Technical Services Group PLC (PTSG), consists of a large scale high-level cleaning contract, involving some of the capital�s most iconic buildings. PTSG will undertake gutter cleaning at 430 sites across the City of London district. The works will incorporate a range of high-level access methods, including abseiling, MEWP and rope access to reach the most challenging areas of the buildings. Much of the cleaning will be performed by operatives using skyvacs to carefully clean gutters and downpipes, removing any debris that has built-up over time. etc"
More nationwide work stretching through into 2018: Http://www.ptsg.co.uk/news/electrical-services/ptsg-is-firstport-of-call-for-lightning-protection-services/ "PTSG is FirstPort of call for lightning protection services Premier Technical Services Group PLC (PTSG) is undertaking a series of repairs to lightning protection systems at a nationwide portfolio of retirement properties. FirstPort is the one of the UK�s premier residential property management groups...... ....PTSG�s Electrical Services division was awarded a lightning protection testing and inspection contract with FirstPort, which resulted in various repairs and upgrades being identified at several retirement properties. The group�s specialist engineers have been working across the portfolio to deliver works, and have been commissioned by the client to work on additional sites in 2018. The client has also expressed its satisfaction with the quality and efficiency of services provided by the lightning protection team. etc"
Two more contracts: Http://www.ptsg.co.uk/news/access-safety/ptsg-makes-appointment-at-30-euston-square/ "PTSG makes appointment at 30 Euston Square Premier Technical Services Group PLC (PTSG) has successfully completed a number of repair works the Royal College of General Practitioners� (RCGP) headquarters at 30 Euston Square, London. Operatives from PTSG�s Access and Safety division attended the headquarters to provide repairs to lifting equipment in the building�s 300-seat tiered auditorium. The auditorium contains top quality AV technology and is used for interactive conferences and exhibitions. etc" And: Http://www.ptsg.co.uk/uncategorised/ptsg-holds-the-line-at-direct-line-house/ "PTSG holds the line at Direct Line House Premier Technical Services Group PLC (PTSG) has been contracted to carry out maintenance work to access equipment at Direct Line House in Croydon, London. PTSG�s knowledgeable and highly-trained Access and Safety operatives will attend the site on Edridge Road to provide various repairs to the site�s access equipment. etc"
These new contracts that are being announced almost daily are great news! The company seems to reinvest profits heavily! A long hold with this one I think!
Contracts are coming along in busloads :o)) Lightning protection testing and inspections at the University of Strathclyde: Http://www.ptsg.co.uk/news/electrical-services/ptsg-takes-place-at-the-university-of-strathclyde/ And at Staffordshire University: Http://www.ptsg.co.uk/news/electrical-services/ptsg-awarded-lighting-protection-contract-at-staffordshire-university/ And at Rockingham Speedway: Http://www.ptsg.co.uk/news/electrical-services/ptsg-wins-first-place-with-contract-at-rockingham-motor-speedway/ And at Bentley Motors: Http://www.ptsg.co.uk/news/electrical-services/ptsg-arrives-in-style-with-new-contract-at-bentley-motors/ Finally, repairs to access equipment at Chapter Kings Cross: Http://www.ptsg.co.uk/news/access-safety/ptsg-books-in-at-chapter-kings-cross/
Here's Corbyn doing some bandwagon-jumping - still, it shows that this is a �1 billion opportunity for PTSG and others if and when sprinkler systems are more widely introduced: Https://www.thetimes.co.uk/edition/news/corbyn-demands-1bn-fund-for-tower-block-sprinklers-dxp7jbgzv "Corbyn demands �1bn fund for tower block sprinklers November 9 2017, 9:00am, The Times Jeremy Corbyn has urged the chancellor to set aside �1 billion to fit sprinklers on all tower blocks owned by councils and housing associations. In the wake of the Grenfell Tower fire, many town halls have been told to fund their own retrofits because the government deems them non-essential. Sprinkler systems are fitted in only one in 50 socially owned high rises. The Labour leader will tell Philip Hammond, the chancellor, to provide money for a retrofitting programme in the budget this month. Sprinklers are only mandatory on new builds more than 30 metres high but fire experts believe that the Grenfell fire could have been prevented if sprinklers had been included in the block�s �8.6 million refit. London�s fire chief is among the senior figures who want the Grenfell public inquiry to recommend a retrofitting programme. �This can�t be optional, it can�t be a �nice to have�, this is something that must happen,� Dany Cotton [COR], commissioner of the London fire brigade, said in September. Whitehall sees retrofitting sprinklers as an optional measure to be funded by councils and housing associations, many of whom say that they cannot afford it.... .....Figures released under freedom of information laws found that 2 per cent of social housing blocks had full sprinkler systems. In England they were only installed in 0.6 per cent of council blocks, according to a 2015 study by Inside Housing......"
PTSG won two categories at this week's PFM awards. Came top for partners in expert services single site and partners in retail with Marks and Spencer. The good news keeps on coming.
Someone at our place of work in Norwich installing lightning protection today - Guess who? Seems like a nice chap and says he has plenty of work on the books.
o/t, bought recently into one of your old stomping grounds severfield, time to be interested again ?
Great news whilst I was away on hols re the recommendations for sprinkler systems to be fitted in ALL residential buildings: Http://www.ptsg.co.uk/news/fire-solutions/riba-recommends-sprinkler-systems-in-all-residential-buildings/ And in ALL schools: Http://www.ptsg.co.uk/news/fire-solutions/fire-chiefs-call-for-sprinklers-to-be-fitted-in-all-schools/ The share price was always going to consolidate or retrace somewhat given the steep rise. But it's looking good value again now, and we should see 200p again reasonably quickly imo assuming the markets remain stable.
http://www.bbc.co.uk/news/uk-41744582 "Fire chiefs call for sprinklers in all UK schools"