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PTSG eyes deals as sales rise

PTSG eyes deals as sales rise

Seneca EIS Portfolio Service Investee Company Premier Technical Services has posted a 30 per cent hike in sales in its maiden results since floating on the London Stock Exchange and revealed it is weighing up an acquisition.

The company, which provides specialist fall arrest equipment services and high-level cleaning services, increased turnover to £18m in the year to 31 December 2014, up from £13.9m a year earlier.

Underlying profit before tax also increased by 22 per cent to £3.7m although pre-tax profit dropped from £2.5m to £1.2m after taking into account one off and non-trading items, including cash paid to previous business owners.

“Although ‘buy and build’ is an important part of our growth story – we have successfully executed 12 acquisitions since 2007 – it is not at the expense of organic growth. We achieved organic turnover growth of 16 per cent in 2014 if the turnover of 2014 acquisitions is excluded,” said chairman John Foley.

Read the Article on Insider Media HERE