At today’s Annual General Meeting of Premier Technical Services Group PLC, the niche specialist services provider, John Foley, Chairman, will provide the following update to shareholders:
“I am pleased to report that the Group has seen continued sales growth and strong levels of orders in the year to date. In addition, working capital utilisation, margin and profit levels are in line with the Board’s expectations. The recent acquisitions of Guardian and Trinity are performing ahead of management expectations. This underscores our confidence in achieving a successful full year result in 2019.
Sales remain robust as contract renewal rates remain high and a number of significant three to five year contracts and framework agreements have been signed across all disciplines with new and existing customers since the beginning of the financial year. Notable recent sales wins include a multi-service contract for BT, a fixed wire testing contract for Toyota’s manufacturing plant in Derbyshire, fire solutions contract for the Department of Work and Pensions, and replacement fall arrest equipment for B&Q.
The Board is currently involved in a review of the Group’s internal and corporate governance structures. This review follows the substantial growth in the size and scale of the Group’s activities since IPO in 2015. The Board will update shareholders on progress in due course.”
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