Acquisitive PTSG reports strong growth with record turnover and profits
Premier Technical Services Group (PTSG), the niche specialist services provider, has hailed an “excellent’ performance for the first half of the year which saw revenue rise 19%.
In the six months to the end of June, the Castleford firm reported revenue of £21.9m, up from £18.5m in the prior year period, while gross profit was up 18% to £11.2m.
The company acquired Nimbus Lightning Protection in January, which it said is now fully integrated into the electrical services division and had made a good contribution to the business.
PTSG has continued its acquisition strategy post period end, which saw it buy UK Sprinklers in a £2.5m deal in September.
John Foley, chairman of PTSG, said: “The business has continued to perform very well and is executing its stated strategy of attaining market dominance in the sectors in which it operates. Once again we have grown both organically and through selective acquisition whilst retaining our core focus of delivering exceptional customer services.
“PTSG has considerable opportunity ahead. Our unique operating model delivers high contract retention rates, very steady gross margin performance and healthy underlying organic growth rates and we continue to identify carefully selected acquisition opportunities where our operating model can be put to good effect. Collectively this gives the Board confidence that the group is well positioned to maintain its current positive momentum. Since 30 June, trading has continued to be strong and we remain hungry to succeed, confident of our prospects and enthusiastic about the future both in the remainder of this year and beyond.”
Paul Teasdale, CEO of PTSG, said: “It has been a strong period for the group, we have completed three acquisitions that have enabled us to increase our presence and service offering and geographic presence. Importantly we have done this whilst growing organically.
“There is no doubt that health and safety and compliance remains a critical focus for organisations throughout the country. Our service offering and operating model that is underpinned by a complete focus on customer service is ideally placed to help ensure companies are doing the utmost to ensure the safety of their employees and customers at all times.
“With 17,000 clients, our work has takes us to some very interesting spots, from the top of London’s tallest residential tower to Edinburgh’s castle. But large or small our commitment to customer satisfaction remains the same.”
He added: “Our approach and model has once again enabled very strong levels of growth with revenues up 19% and operating profit up 20%.”
PTSG employs more than 600 people across 17 UK sites. The firm provides façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions.
Overall, the company services more than 150,000 buildings across the UK for over 17,000 customers. The company is listed on the LSE AIM.
