Premier Technical Services Group (PTSG); reports strong trading in Q1 2019

Published on 10-05-2019 07:54:14
Author Sparks Team

Premier Technical Services Group posted its trading update for the 12 weeks to 31 March 2019, showing that trading was strong in Q1 2019. The update also demonstrated that recent acquisitions of Guardian and Trinity were performing ahead of management expectations.

Premier Technical’s sales remain robust as contract renewal rates continue to be high. Several significant three- to five-year contracts and framework agreements have been signed across all disciplines with new and existing customers since the start of FY2019. Important sales wins include a fire solutions contract for London Underground, fixed wire testing for BMW and replacement fall arrest equipment for Morrisons.

John Foley, Premier Technical’s Chairman, commented: “I commented in our 2018 results announcement on 26 March 2019 that 2019 had started well as we continued to deliver against our strategy to seek sector dominance in the markets we serve, which are underpinned by compliance demand. That position is unchanged, trading continues to be strong and the board remains both confident and enthusiastic about the group’s prospects and performance.”

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