Premier Technical Services Grp PLC Trading update and appointment of new NED (9299B)
16 January 2018 - 6:00PM
UK Regulatory
TIDMPTSG
RNS Number : 9299B
Premier Technical Services Grp PLC
16 January 2018
16(th) January 2018
Premier Technical Services Group PLC
("PTSG" or the "Group")
Trading update and appointment of new NED
Premier Technical Services Group PLC ("PTSG" or the "Group"),
the niche specialist services provider, is pleased to announce that
its results for the year ended 31 December 2017 are anticipated to
be in line with the Board's expectations.
In addition, the Board expects that the results for the year
ended 31 December 2018 will be materially ahead of current market
forecasts. This reflects the strength of the Group's order book and
successful integration, and ongoing progress at its recently
acquired businesses.
The Board is also pleased to confirm that the integration of the
'Best' Lightning Protection business acquired on 4 July 2017 has
progressed very well and is nearly complete.
Furthermore, the UK Sprinklers business we acquired in September
2017 has been fully integrated into the Group and is trading 50%
ahead of the acquired business with a very strong order book and
pipeline.
PTSG notes the recent statement from Carillion PLC which was
placed into liquidation yesterday. The annual value of work which
the Group undertakes on behalf of Carillion is c.GBP0.8m and it is
expected that this work will be taken on by existing PTSG clients;
therefore the ongoing effect on the Group is expected to be
minimal. Given PTSG's highly diversified customer base, the Board
expects that there will be no material impact on 2018 trading. The
Group has outstanding net debt of GBP0.3m due from Carillion and
this has been fully accounted for in the Group's 2017 Balance
Sheet.
The Group's final results for the year ended 31 December 2017
will be announced on Tuesday 20(th) March 2018.
PTSG is pleased to announce the appointment of Michael James
Higgins, aged 61, as a non-executive director of the Company with
effect from 16 January 2018. He will join both the Audit and
Remuneration Committees.
Mr Higgins is currently the chairman or non-executive director
of three listed companies, namely Ebiquity plc, Plant Heath Care
plc and Progility plc and has further non-executive interests in a
range of private companies. Michael previously was Chairman of the
Quoted Companies Alliance ("QCA"). After reading economics and
politics at Cambridge, Michael qualified as an accountant at Price
Waterhouse. Following international banking experience with Saudi
International Bank he joined Charterhouse, the merchant bank, in
1984. Michael became a KPMG Partner from 1996 to 2006, remaining a
senior adviser for a further five years.
John Foley, Chairman of PTSG, comments:
"Our strong performance reflects the success of our strategy to
seek market dominance through organic growth and carefully selected
acquisitions. We have a healthy pipeline of potential acquisitions
to complement our unique business model, and will continue to
appraise opportunities as they arise.
"I am very pleased to welcome Michael onto the Board. He brings
a wealth of experience and his long-standing involvement with AIM
and growth companies together with his experience at the QCA will
prove invaluable."
Save for the information disclosed above there is no other
information to be disclosed under Rule 17 or schedule Two,
paragraph (g) of the AIM Rules for Companies in relation to Michael
Higgins' appointment as a Director of the Company other than as
follows:
Michael James Higgins
Current
Ebiquity plc
Engines for Growth Limited
The Growth Companies Alliance LLP
IPSX (UK) Limited
Plant Health Care PLC
Plant Health Care UK Limited
Progility plc
The Quoted Companies Alliance
Past (last 5 years)
Arria NLG PLC
Dods Group PLC
Charcoal Health Community Interest Company (dissolved 22 July
2013)
Enquiries:
PTSG +44 (0)1977 668 771
Paul Teasdale, Chief Executive Officer
Numis Securities +44 (0)20 7260 1000
Stuart Skinner / Kevin Cruickshank / Michael Burke
Hudson Sandler +44 (0)20 7796 4133
Charlie Jack / Hattie O'Reilly
About PTSG - www.ptsg.co.uk
Premier Technical Services Group PLC 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.
Operating through four divisions, Access & Safety,
Electrical Services, Building Access Specialists and Fire
Solutions, the Group provides highly-engineered industrial products
and quality services and has a substantial presence in a number of
niche markets.
PTSG provides a central information service for its businesses
and champions the dissemination of key information and best
practice. PTSG unites its constituent businesses under one clear
identity, which supports smarter working and delivers top class
service to its customers.
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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