Record turnover and profits for Premier Technical Services Group

PTSG agrees increased banking facilities with HSBC

Premier Technical Services Group (PTSG), the Castleford-based niche specialist services provider, has reported “strong growth with record turnover and profits”.

For the six months ended 30 June, PTSG reported a revenue rise of 38% to £30.2 million – up from £21.9 million on the same period last year.

The company also posted a 37% rise in gross profit to £15.4 million on last year’s £11.2 million. Adjusted operating profit was up 35% reaching £5.9 million (H1 2017: £4.4m).

In particular, its Fire Solutions division put in a strong performance rising 148% on the same period last year.

The growth, PTSG said, was driven by two key acquisitions – UK Sprinklers, acquired in September 2017, and M&P Fire Protection, acquired in July 2018.

John Foley, Chairman of PTSG, said: “The first half of 2018 was a period of internal focus to integrate the three acquisitions made in 2017 into PTSG as well as a period of external communication and delivery to ensure that our customer base understood and reacted favourably to the new divisional structure that was implemented in 2017.

“Both objectives were successfully achieved and I am pleased to report continuing record levels of turnover, gross profit, adjusted EBITDA and adjusted earnings per share were achieved in the period.

“Our principal objective is to build a Group which is the UK’s leading provider of clearly identified niche specialist services to customers in the facilities management, construction and property sectors.

“Our focus on compliance to a demanding set of safety standards remains foremost in our thoughts and actions.

“We continue to see and develop further opportunities which can assist the Group to achieve its stated principal objectives and the pipeline of potential acquisitions remains both healthy and full.

“We remain both confident about continuing the positive revenue and profit momentum which is evident in the Group’s results for the first six months of 2018 and also enthusiastic about our prospects for the future.”