PTSG reports 'record performance' in 2017 as revenue increases to £53m
22 March 2018
Premier Technical Services Group PLC, the Castleford-based niche specialist services provider, has growth with revenue up 35%, gross profit up 33% and operating profit up 35%.
For the year ending 31st December 2017, PTSG saw group revenue rise to £52.9m from £39.2m achieved in the previous year. Gross profit also rose from £20.3m to £27.1m during this time.
In addition, PTSG reported a 35% increase in operating profit to £10.6m and also saw pre-tax profit climb 36% to £10.2m.
Throughout the year, PTSG completed a trio of acquisitions. Nimbus Lightning Protection Limited was acquired for £1m in January 2017; Brook Edgeley (Industrial Chimneys) Ltd (BEST) was concluded in July 2017 for £14m and UK Sprinklers Limited was snapped up in September 2017 for a total consideration of £2.5m.
John Foley, chairman of Premier Technical Services Group PLC, commented: “PTSG delivered a record performance in 2017, driven by strong organic growth and a number of highly successful acquisitions, including the largest acquisition made since the Group’s IPO in February 2015.
“During the year the Group took steps to diversify and reorganise the business, to further strengthen its foundation for future growth. Trading in 2018 has started well.
“We continue to review a number of acquisition opportunities and the Board is confident that the Group’s positive organic revenue and profit momentum will continue throughout the year”
PTSG is the UK’s leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, steeplejack and rope access services and fire solutions.
Headquartered in Castleford, West Yorkshire, the Group employs more than 600 people across 17 UK sites, who service more than 150,000 buildings across the whole of the UK for over 17,000 customers in a wide range of industries.