Castleford’s PTSG starts life as a public company with significant growth

Premier Technical Services Group PLC (PTSG), based in Castleford, has reported strong financial results for the six months ending 30 June 2015.

The firm, which is a niche specialist services provider, only floated on AIM this past February after seeing year-on-year growth across all four of its divisions; Access & Safety, Electrical Services, High Level Cleaning and Specialist M&E.

As for the first six months of this year, PTSG saw revenue increase by 40% to £11.7m (2014: £8.4m), and gross profit also jumped up 27% to £6.4m (2014: £5.0m).

Furthermore, PTSG’s operating profit was up 30% to £2.4m (2014: 1.8m), and due to the progress made in 2015, the Board declared an interim dividend of 0.46p a share, amounting to £0.4m.

These strong results follow the Juneacquisition of Pendrich Height Services Ltd and NATHS Ltd - steeplejack, rope access and working at height companies based in Edinburgh, Scotland.

PTSG acquired these two companies, for an undisclosed amount, after Acescott Management Services, another working at height specialist, joined the firm late last year. As a result, the firm significantly strengthened its reputation of being highly-acquisitive, something that is a key aspect of the its business plan.

Commenting on the results, John Foley, chairman of Premier Technical Services Group PLC, said: “The Group has made a very encouraging start to life as a public company with strong levels of profitable organic growth seen across our service offerings.”

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