PTSG poised for further acquisitions as revenue breaks £25m

PTSG is planning further acquisitions as it celebrates bumper full-year results in its first year as a listed company.

The Castleford-based firm floated on the AIM market in February 2015 , before adding six businesses to its stable later in the year and securing a £7m funding facility from HSBC.

In the 12 months to December 2015, group revenue rose 43% to £25.8m, with adjusted pre-tax profit up 35% to £5m. Earnings per share rose 29% to 4.87p. Renewal rates rose from 85% to 88%.

Of its growth, 24% was organic with the remainder boosted by acquisitions. PTSG’s workforce also grew from 237 to 388 in the year.

Paul Teasdale, CEO of PTSG, told that the business has a strong pipeline of target acquisitions and would look to bring more businesses into the group in the current year.

Looking ahead, he said: “We plan much of the same. Organic growth plays a big part in the business, alongside targeted acquisitions. We will be looking to make further acquisitions as the year goes on.”

Mr Teasdale said acquisitions are targeted across a range of criteria in line with strategy, including branching into new areas, expanding geographic reach and bolstering technical skill.

The company has a “strong pipeline” of potential businesses, he added.

PTSG provides a range of technical services equipment, testing and training for working at height. The group now covers 14 sites across the UK.