18 Jun 2018 07:00
18 June 2018
Premier Technical Services Group PLC
("PTSG" or the "Group")
AGM Statement
At today's Annual General Meeting of Premier Technical Services Group PLC, the niche specialist services provider, John Foley, Chairman, will provide the following update to shareholders:
"I am pleased to report that the Group has seen continued sales growth and strong levels of orders in the year to date. In addition, working capital utilisation, margin and profit levels are in line with the Board's expectations.
"Contract renewal rates remain high and a number of significant three to five year contracts and framework agreements have been signed across all disciplines with new and existing customers since the beginning of the financial year, underpinning our organic growth strategy.
"The acquisitions completed last year are contributing significantly to the growth of the Group. We have been particularly pleased with the improvement in the contract renewal rates for BEST since its acquisition last year. In addition, we are seeing unprecedented demand for Fire Solutions with UK Sprinklers trading 50% ahead of the acquired business."
"The Board is confident that the business is in a strong position to continue to grow both organically and through carefully selected acquisitions. These acquisitions have allowed PTSG to evolve its highly compelling installation, service and testing offer and confidently target sector dominance in our markets that are underpinned by regulatory compliance and an increasing focus on regular testing."
For further information, please contact:
PTSG | +44 (0)1977 668 771 |
Paul Teasdale, Chief Executive Officer
| |
Numis Securities | +44 (0) 207 260 1000 |
Stuart Skinner / Kevin Cruickshank / Michael Burke
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Hudson Sandler | +44 (0)207 796 4133 |
Charlie Jack / Hattie O'Reilly |
About PTSG - www.ptsg.co.uk
Premier Technical Services Group PLC is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, steeplejack and rope access services and fire solutions.
Operating through four divisions, Access & Safety, Electrical Services, Building Access Specialists and Fire Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.
PTSG provides a central information service for its businesses and champions the dissemination of key information and best practice. PTSG unites its constituent businesses under one clear identity, which supports smarter working and delivers top class service to its customers.
Headquartered in Castleford, West Yorkshire, the Group employs more than 600 people across 17 UK sites, who service more than 150,000 buildings across the whole of the UK for over 17,000 customers in a wide range of industries.
The Company is listed on the LSE AIM (PTSG.L)