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Premier Technical witnesses continued sales growth and strong order levels

By Iain Gilbert

Date: Monday 17 Jun 2019

Premier Technical witnesses continued sales growth and strong order levels

(Sharecast News) - Niche specialist services provider Premier Technical Services Group said on Monday that it has continued to witness sales growth and strong order levels so far this year.
In a statement to be made at the company's annual meeting, chairman John Foley said that in addition to the improved sales and order levels, working capital utilisation, margin and profit levels were all in line with the board's expectations, with the recent acquisitions of Guardian and Trinity performing ahead of management expectations.

"This underscores our confidence in achieving a successful full year result in 2019," said Foley.

Premier also said that sales had remained "robust" as contract renewal rates were high and a number of significant three to five-year contracts and framework agreements were signed with new and existing customers across all disciplines since the beginning of the financial year.

Notable recent sales wins included a multi-service contract for BT, a fixed wire testing contract for Toyota's manufacturing plant in Derbyshire, a fire solutions contract for the Department of Work and Pensions, and replacement fall arrest equipment for B&Q.

Foley also said Premier's board was currently involved in a review of the group's internal and corporate governance structures following the substantial growth in the size and scale of its activities.

At 0950 BST, Premier shares were up 3.14% at 98.50p.

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