PTSG plans to secure further acquisitions after high profile stock market debut

A YORKSHIRE-based company is enjoying the high life after making its stock market debut earlier this year.

Premier Technical Services Group (PTSG) saw its profits and sales rise after it expanded into the high level cleaning market. The Castleford-based firm, which also specialises in protecting buildings from lightning, said it aims to secure at least one acquisition.

It reported record pre-tax profits of £3.7m for 2014, which is an increase of 22 per cent on the previous year.

Revenue also rose by 30 per cent to £18m last year.

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John Foley, the company’s chairman, said the results showed very strong growth.

He added: “I am pleased to report our highest levels of turnover, gross profit and underlying profit before taxation since the group’s formation in 2007.”

Paul Teasdale, the company’s chief executive, said: “We have had a good start to 2015 and continue to trade in line with our expectations.

“Our first acquisition is planned for the second quarter of 2015, with a good pipeline of future opportunities.”

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In February, PTSG raised £5m by listing on the Alternative Investment Market (AIM).

PTSG’s major customers include the US Air Force, Marks & Spencer and Manchester United.

Mr Teasdale added: “We are acutely aware of the need to continually re-invest in the group in order to promote future growth, both organically and through acquisition.”

The company said that, while acquisitions have proved fruitful for PTSG, it has also delivered organic growth, most notably in electrical services, where revenue grew by 58 per cent.

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PTSG supplies highly-engineered industrial products and services across four niche business sectors: access and safety, electrical services, high level cleaning and specialist mechanical and electrical services.

When the RAF needed help in 2013, PTSG scrambled. Aircraft hangars and bomb dumps at RAF Marham and RAF Coningsby were among the assets that had to be safeguarded, as part of a £400,000 contract to upgrade lightning protection on both airfields