Major contract wins pave the way for strong results at PTSG

Premier Technical Services Group (PTSG), the niche specialist services provider, has had a busy start to 2018, with a number of “new and significant” contract wins. 

Issuing a trading update this morning, the Castleford-headquartered firm said the contracts had been won across a 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.

The majority of the contracts range from three to five years, and range in value from £500,000 to £1m a year. PTSG said that in addition to the existing customer base, the new contracts provided excellent revenue visibility over the medium term and reinforced the Board’s confidence in organic growth plans.

The AIM-listed firm, which has a market cap of £207m, added: “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.

“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.”