Pressure Technologies enjoys strong fourth quarter

PRESSURE Technologies, which manufactures gas storage vessels used in the shipping, oil and defence industries, said today that it had experienced stronger than expected trading in its fourth quarter.

The Sheffield-based company said in a pre-close trading update that the change in the year to fixed summer holidays, with a two week factory shutdown in August, did not have the expected impact on output and allowed a number of short-term opportunities to be exploited.

Pressure Technologies – which is the holding company for Chesterfield Special Cylinders – said that market conditions remained favourable across all its markets – with results for the full year ending 27 September 2008 expected to be “ahead of market expectations”.