PTSG confident after strong start to trading
Specialist services provider Premier Technical Services Group (PTSG) has had a “strong” Q1 and its latest acquisitions are “performing ahead of management expectations.”
Publishing a trading update for the three period to 31 March 2019, Castleford-based PTSG said the acquisitions of Sheffield-based Guardian Electrical Compliance in October 2018 for £12m and Trinity in January 2019 for £10.8m had seen a positive start to the year.
The firm said: “Sales remain robust as 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. Notable sales wins include a fire solutions contract for London Underground, fixed wire testing for BMW and replacement fall arrest equipment for Morrisons.
“This underscores our confidence in achieving a successful full year result in 2019, in line with the board’s expectations.”
John Foley, Chairman of PTSG, added: “I commented in our 2018 results announcement on 26 March 2019 that 2019 had started well as we continued to deliver against our strategy to seek sector dominance in the markets we serve, which are underpinned by compliance demand. That position is unchanged, trading continues to be strong and the Board remains both confident and enthusiastic about the Group’s prospects and performance.”
