PTSG confident as acquisitions make ‘significant’ contribution

Premier Technical Services Group PTSG - access and safety

Specialist services provider PTSG, which has a market capitalisation of £180m, is in bullish mood this morning after reporting continuing sales growth and a strong order book, boosted by “significant contributions” from a trio of acquisitions it made in 2017.

In a trading update, John Foley, chairman of the Castleford-based firm, said the group has seen continued sales growth and strong levels of orders in the year to date, while 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,” he said.

“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.”

PTSG said it 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,” Foley added.

In March, PTSG reported that pre-tax profits rose from £7.9m in 2016 to £10.6m last year, while group revenue was up 35% at £52.9m, a rise from £39.2m in 2016.

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