Pressure Tech Share Price (PRES)

Good interims and nice growth progression but always that niggling unsure element in the last sentence of every RNS re funding...

CW needs some antidepressants or something or get someone elese to write the RNS.

Can only hope the onboarding of Richard Staveley - a qualified accountant and fund manager and the appointment of the new CFO can make a difference to margins, contract pricing, hedging and hopefully profitability so we can get rid of that persistant niggling funding issue that Chris feels is always worth dwelling on.

Chris Walters gotta get the SP to 140 before Oct 2024 otherwise he misses out on 5.5% of the company's market capitilisation in awards...

Hopefully at some point soon he'ss start thinking of Prozac, sweet meadows , new kitchens and yachts...

See the drop occured on the 26th but the Interims were posted AM on 27th

is that a leaky ship (is that usual for this Co ?)

Quite a drop considering accounts look reasonable but i'm no expert

would appreciate others comments on it

guess debt refinancing not going well - higher interest rates

money generally leaving the markets nowadays - higher interest rates

Things shaping up here it seems.

Have taken a small position.

Major Order Placement

Pressure Technologies (AIM: PRES), the specialist engineering group, is pleased to announce that its wholly owned subsidiary, Al-Met Limited, part of the Group's Precision Machined Components ("PMC") division, has been awarded a record £3 million order from an established international OEM customer for the supply of flow control components and subassemblies used in high-pressure extreme service oil and gas applications.

This unprecedented order for Al-Met and the continuing momentum in PMC order intake underpin the FY23 full-year outlook for the division and also provide substantial order book coverage and visibility for the first half of FY24.

PMC total order intake for the month of March 2023 is now expected to exceed £4 million, the division's highest ever monthly intake. The PMC order book is now expected to reach approximately £7 million at the half year on 31 March 2023, the highest order book level for the division in over six years.

Chris Walters, Chief Executive of Pressure Technologies commented:

"We are delighted to announce this unprecedented order that demonstrates Al-Met's strong and growing position with its major international OEM customers, resulting from improved operational performance and competitiveness in meeting increasingly stringent metrics for quality and on-time delivery.

The scale of this award and the strengthening order intake across the PMC division demonstrate the increasing pace of recovery in oil and gas markets, underpinning our expectations for the full year, including a return to profitability at the end of this quarter."

The person responsible for arranging the release of this announcement on behalf of the Company is Chris Walters, Chief Executive.