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More growth and positive trading results from PTSG

16 January 2018

With 2017 results expected to be in line with its board's predicted results, Premier Technical Services Group (PTSG) has announced its 2018 results will be "materially ahead" of current market forecasts.

Strength of its order book along with successful integration and ongoing progress within recently acquired businesses are given as reasons for its positive outlook.

It says that the integration of the 'Best' Lightning Protection business, acquired in July 2017, is continuing well and is nearly complete.

UK Sprinklers, acquired in September last year, has now been fully integrated and is trading 50% ahead of its previous performance with a "very strong order book and pipeline".

Its statement is in stark contrast to the news of Carillion's announcement, although PTSG states that the value of work completed for the business is in the region of £.8m.

However, it expects this work will be taken on by existing clients and expects the effects of the Carillion demise to be "minimal".

Outstanding debt of £0.3m from Carillion has been fully accounted for in the PTSG 2017 balance sheet.

Final results for the groups's trading up to 31 December 2017 will be announced on 20 March.

The company has further announced the appointment of Michael James Higgins as non-executive director.

He was previously chair of the Quoted Companies Alliance (QAC) and a KPMG partner from 1996 to 2006.

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