Acquisitions help boost Premier Technical Services Group in first quarter

(Sharecast News) - Niche specialist services provider Premier Technical Services Group announced a trading update for the 12 weeks ended 31 March on Friday, reporting that trading during the first quarter had been "strong", with the recent acquisitions of Guardian and Trinity performing ahead of management expectations.The AIM-traded firm said sales remained "robust" as contract renewal rates remained high, and a number of significant three- to five-year contracts and framework agreements had been signed across all disciplines with new and existing customers since the start of the financial year.Notable sales wins included a fire solutions contract for London Underground, fixed wire testing for BMW and replacement fall arrest equipment for Morrisons.The board said that underscored its confidence in achieving a successful full year result in 2019, in line with the board's expectations."I commented in our 2018 results announcement on 26 March that 2019 had started well as we continued to deliver against our strategy to seek sector dominance in the markets we serve, which are underpinned by compliance demand," said Premier Technical Services Group chairman John Foley."That position is unchanged, trading continues to be strong and the Board remains both confident and enthusiastic about the group's prospects and performance."I look forward to updating shareholders on the group's continued progress at the time of its AGM on 17 June 2019."