Pressure Technologies (PRES)

Sector:

Engineering

Index:

FTSE AIM All-Share

40.50p
   
  • Change Today:
    -1.50p
  • 52 Week High: 44.50
  • 52 Week Low: 24.00
  • Currency: UK Pounds
  • Shares Issued: 38.67m
  • Volume: 36,093
  • Market Cap: £15.66m
  • RiskGrade: 319

PressureTechnologies issues profit warning as Covid-19 weighs on FY trading

By Iain Gilbert

Date: Tuesday 03 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Specialist engineering group Pressure Technologies issued a profit warning on Tuesday as the Covid-19 pandemic impacted full-year trading.
Pressure Technologies expects revenues for the year ending 3 October to come to about £25.0m, down from £28.3m a year earlier, with the group also expecting to fall to an adjusted operating loss from last year's £2.2m profit.

The AIM-listed group cited tougher trading conditions, Covid-19 disruption and the deferral of revenues and profits for a defence contract for the softer performance.

However, Pressure Technologies did highlight that investments made since 2019 had underpinned growing diversification and sustainability in both of its divisions, supporting customer acquisitions and new market development in the process.

Chief executive Chris Walters said: "Depressed oil and gas markets and slower than expected turnaround of operational performance have impacted the PMC division and the outlook remains uncertain.

"With further UK-wide lockdown restrictions announced in the last week, Covid-19 continues to impact our target markets, our operations and our people."

As of 1310 GMT, PressureTechnologies shares were down 4.27% at 56.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PRES Market Data

Currency UK Pounds
Share Price 40.50p
Change Today -1.50p
% Change -3.57 %
52 Week High 44.50
52 Week Low 24.00
Volume 36,093
Shares Issued 38.67m
Market Cap £15.66m
RiskGrade 319

PRES Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
74.6% below the market average74.6% below the market average74.6% below the market average74.6% below the market average74.6% below the market average
47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average47.06% below the sector average
Price Trend
1.37% below the market average1.37% below the market average1.37% below the market average1.37% below the market average1.37% below the market average
2.86% above the sector average2.86% above the sector average2.86% above the sector average2.86% above the sector average2.86% above the sector average
Income Not Available
Growth
5.46% above the market average5.46% above the market average5.46% above the market average5.46% above the market average5.46% above the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

PRES Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 18-Feb-16
Paid n/a 18-Mar-16
Amount 0.000p 5.60p

Trades for 28-Mar-2024

Time Volume / Share Price
14:51 9,593 @ 40.00p
11:20 1,500 @ 41.00p
10:18 20,000 @ 40.34p
10:16 5,000 @ 41.24p

PRES Key Personnel

CEO Chris Walters
CFO Stephen Hammell

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