PTSG reports ‘record levels’ of growth following acquisitive year

Premier Technical Services Group, the niche specialist services provider, has reported “record levels” of growth for revenue and profits.

For the period ending 30 June, the Castleford-headquartered firm saw revenue rise 38% to £30.2m, gross profit increase by 37% to £15.4m and operating profit jump 35% to £5.9m.

PTSG, which provides niche specialist services to customers in the facilities management, construction and property industries, also saw significant growth in pre-tax profits which rose to £5.5m compared to £4.1m in 2017.

This growth has resulted from three acquisitions made in 2017. The acquisitions of Nimbus Lightning Protection and Brook Edgley boosted the firm’s position in the Lightning Protection sector.

The acquisition of UK Sprinklers enhanced the capabilities of PTSG’S recently created Fire Solutions Division, which has experienced rapid growth since its acquisition in September 2017.

The integration of these acquisitions enabled PTSG to make a further acquisition on 5 July to further strengthen and extend the offering of its Fire Solutions Division. M & P Fire Protection Ltd which is based in Maidstone, is a specialist in the installation and maintenance of sprinkler, dry and wet riser systems was acquired for £3.5m.

John Foley, Chairman of PTSG, said: “The first half of 2018 was a period of internal focus to integrate the three acquisitions made in 2017 into PTSG as well as a period of external communication and delivery to ensure that our customer base understood and reacted favourably to the new divisional structure that was implemented in 2017.

“Both objectives were successfully achieved and I am pleased to report continuing record levels of turnover, gross profit, adjusted EBITDA and adjusted earnings per share were achieved in the period.

“Our principal objective is to build a Group which is the UK’s leading provider of clearly identified niche specialist services to customers in the facilities management, construction and property sectors.

“Our focus on compliance to a demanding set of safety standards remains foremost in our thoughts and actions. We continue to see and develop further opportunities which can assist the Group to achieve its stated principal objectives and the pipeline of potential acquisitions remains both healthy and full.

We remain both confident about continuing the positive revenue and profit momentum which is evident in the Group’s results for the first six months of 2018 and also enthusiastic about our prospects for the future.”

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