Pressure Technologies plc, the designer, manufacturer and re-tester of speciality high pressure, seamless steel gas cylinders for the global energy and defence markets, this week announced its interim results for the six months ended 29th March 2008 and revealed that the trend for growth and progression is still going strong.
Pressure Technologies is the holding company for Chesterfield Special Cylinders Limited (CSC) and the group’s first interim results since flotation on AIM last summer demonstrated a revenue increase from £7.3m in 2007 to a healthy £11.7m.
Both operating profit and pre-tax profit rose too, from £0.8m in 2007 to £2.3m and £0.7m to £2.4m respectively. The company notes that its strategy is to broaden the activities of the business through acquisition and diversification, a strategy that looks to continue in the future.
Richard Shacklady, Chairman of Pressure Technologies, explained, “Our forward order book has been maintained at £18m and stretches well into 2009 giving the group good forward visibility. There is also a pipeline of further large tenders still outstanding.”
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