Castleford's PTSG records a 19% rise in revenue for first half of 2017

Premier Technical Services Group PLC, the niche specialist services provider, has reported a 19% rise in revenue for the first half of 2017.

During the first six months to 30th June, the Castleford-based company saw revenue increase to £21.9m, compared with £18.5m at the same period last year.

In addition, PTSG reported an 18% rise in gross profit to £11.2m, whilst adjusted operating profit grew by 20% to £4.4m.

The company has also announced plans to rename two of its four divisions following growth in the rope access/steeplejack and fire services sectors, with certain service lines moving divisions to better reflect how the group operates and is managed.

PTSG, which operates extensively in the facilities management (FM) and construction sectors, has updated its corporate branding to fully reflect the Group’s range of products and services and its team’s capabilities.

PTSG’s business will now be segmented into four clear and distinct areas: PTSG Access and Safety; PTSG Electrical Services; PTSG Building Access Specialists (formerly PTSG High Level Cleaning) and PTSG Fire Solutions (formerly PTSG Training Solutions).

John Foley, chairman of PTSG, commented: “The business has continued to perform very well and is executing its stated strategy of attaining market dominance in the sectors in which it operates.

“PTSG has considerable opportunity ahead. Our unique operating model delivers high contract retention rates, very steady gross margin performance and healthy underlying organic growth rates and we continue to identify carefully selected acquisition opportunities where our operating model can be put to good effect.

“Since 30 June, trading has continued to be strong and we remain hungry to succeed, confident of our prospects and enthusiastic about the future both in the remainder of this year and beyond.”

Paul Teasdale, CEO of PTSG, said: “After 10 years of strong growth, which has seen our services increase year-on-year, we recognised that we needed to refresh how our business divisions are organised to make sure that they are easily recognisable and understood by our customers – reflecting our current goals, values and service offering.

“After careful consideration we developed the concept of four business divisions all focused on very specific but market facing product, people and service areas.

“As has always been the case, we want our message to be clear and positive and an excellent reflection of what we can do for our customers’ businesses. We are excited to continue our growth and development at PTSG.”