Wakefield business triples Pre Tax Profits
Mon 03 Oct 2016
Profits have increased by 57% at Premier Technical Services Group, as it looks to acquire to expand the business. For the six months to 30 June 2016, PTSG reported revenues of £18.5m up from £11.7m in the comparable period last year.
Pre-tax profits reached £2.1m, up from £695,546 in the first half of 2015.
It said that the integration of the six businesses it acquired in 2015 has been completed, with a "strong contribution" to growth in the first half.
The company, which became listed in February 2015, said that the Brexit decision had shown no adverse effects in the business and that it will "face the future with confidence".
It said that acquisitions had been part of its culture since its inception in 2007 and that it would continue on its acquisitive trail.
John Foley, chairman of PTSG, said:
"We have a distinctive, scaleable and efficient operating model which can deliver a broad range of niche specialist services on a national basis. We serve a fragmented, broad customer base and currently provide services to more than 100,000 buildings on behalf of over 12,500 customers.
"We have identified a pipeline of carefully selected acquisition targets which can in due course further expand our range of service offerings. We intend to continue along the path of producing organic growth on existing and acquired business through the expansion of our service offerings and by gaining market share due to the increased scale, range and efficiency of our activities.
"The Group is trading in line with recently upgraded market expectations and we continue to face the future with confidence."
Oringinal story by Claire Burnett at The Business Desk