Premier Technical Services Group PLC (PTSG) has reported yet more strong growth in an update on its trading performance from John Foley, as part of the company’s AGM.
John Foley, the company’s chairman, stated: “I am pleased to report that the Group has seen continued sales growth and strong levels of orders in the year to date. In addition, working capital utilisation, margin and profit levels are in line with the Board’s expectations.
“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, underpinning our organic growth strategy.
“The acquisitions completed last year are contributing significantly to the growth of the Group. We have been particularly pleased with the improvement in the contract renewal rates for BEST since its acquisition last year. In addition, we are seeing unprecedented demand for Fire Solutions with UK Sprinklers trading 50% ahead of the acquired business.
“The Board is confident that the business is in a strong position to continue to grow both organically and through carefully selected acquisitions. These acquisitions have allowed PTSG to evolve its highly compelling installation, service and testing offer and confidently target sector dominance in our markets that are underpinned by regulatory compliance and an increasing focus on regular testing.”
These results demonstrate the effectiveness of PTSG’s growth strategy and its impressive performance across the UK. The multitude of long-term contracts signed across all four divisions in the first half of 2018 is a strong sign that the organisation’s business success looks set to continue, and its teams are ready to deliver the high-quality niche specialist services they are known for to its ever-expanding portfolio.
