8 Aug 2018 07:00
8 August 2018
Premier Technical Services Group PLC
("PTSG" or the "Group")
TRADING UPDATE AND NOTICE OF RESULTS
PTSG, the niche specialist services provider, is pleased to announce the following trading update ahead of its interim results for the six months ended 30 June 2018, which will be issued on Tuesday, 25 September 2018:
"As stated at the AGM trading update in June, the Group has seen a continued strong performance in the first half of the year, driven by a marked increase in compliance and testing work, with high activity levels across all divisions.
"Our contract renewal rates remain high and a number of new and significant contracts have been won during the first half of the year across our range of services, including The Department of Work and Pensions with Interserve, FirstPort, and the Ministry of Justice's new facilities management company, Government Facilities Services Ltd. The majority of these contracts range from three to five years, and range in value from £500,000 to £1m per annum, which, in addition to the existing customer base, provides excellent revenue visibility over the medium term and reinforces the Board's confidence in our organic growth plans.
"The three acquisitions completed last year have been successfully integrated and are making significant contributions to the Group. Acquisitions remain a core element of our growth strategy, and at the beginning of the second half we acquired M&P Fire Protection Ltd., to further strengthen our Fire Solutions division after a period of unprecedented demand in this area. The business is performing in line with expectations and has strengthened our presence in London and the South East.
"Trading momentum has continued into the first few weeks of the second half with high levels of demand from new and existing customers for essential building services, with a particular focus on regulatory compliance and testing work. As a result, the Board remains confident of delivering full year expectations and in the significant long-term growth opportunity for PTSG."
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 (AIM: PTSG.L) 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.