Premier Technical Services Group (PTSG); denies knowledge of reason for recent share price movements

Published on 21-02-2019 08:42:07
Author Sparks Team

PTSG has released a statement noting the share price movement in recent weeks, but denying any knowledge of why the movement occurred. The final results, expected on 26 March 2019 are anticipated in line with the board’s expectations.

Net bank debt was £11.9m as of December 2018 compared with £18.3m in 2017. Despite the working capital effect of underlying organic turnover growth during 2018 of 19%, underlying trading cash conversion rose to 72% from 65% in 2017. There was a strong cash collection during the period and improved debtor days on invoiced sales that equated to 88 days (2017: 97).

Trading has been strong during the first six weeks of the current year, and recent acquisitions are performing in line with management expectations.

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