PRES has been a great performer since arriving on AIM.
Following National Grid's recent report it looks like there could be a big opportunity in biogas. New commentary on Investor's Champion, www.investorschampion.com.

Biogas first for UK energy
Sub 9x multiple for a high growth business in energy space looks too low. Latest FREE commentary at www.investorschampion.com

Latest acquisition will benefit from Gulf spill
http://www.investorschampion.com/research/company/pressure-technologies

Chevrons commitment good news for the deepwater drillersand Pressure Technologies
www.investorschampion.com/blog

Deep water market set to rebound strongly in 2011/12 with PRES likely to be a big winner
www.investorschampion.com/research/company/pressure-technologies/

Wake up and look at the cycle!

Last week's trading update was disappointing but one look at the market and recent updates from some of the key players (some of which are surely customers of PRES) suggests this business is in great shape for 2012 and beyond.

In the Groups new Engineered Products Division management confirmed that Al-Met had record annual sales in 2011. When it bought Al-Met in Feb 2010 it announced that turnover for the 12 months ending 31 December 2009 was 4.2m, adjusted adjusted EBITDA 0.5m and gross assets of 2.0m. The initial cash consideration, represents a multiple of 3.5 times unaudited historical adjusted EBITDA. That sounds alright to us!

Management has confirmed that they expect the current record level of sales in Al-Met to be maintained into 2012 with further growth in this business expected in 2013. Industry forecasts and customer feedback indicate significant growth for wear parts into the subsea market from 2013 with double digit growth forecast for both 2013 and 2014.

Hydratron acquired on 18th Oct 2010 had sales of 4m in the UK in the year ended 30 April 2010.

With 1H11 sales in the Engineered Products Division of 5.1m the house broker is now forecasting full year sales in 2011 of 11.1m. That doesnt look too bad either if one considers that 2010/2011 wasnt an easy period for the industry remember Macondo!

Its worth noting that Cameron International, the industry leader in the provision of flow equipment products, systems and services to the oil and gas market yesterday reported total orders of US$2.0bn for the quarter and a backlog of US$5.8bn, the second highest quarter-end level in its history. PRES is bound to be dealing with CAM in some form

Management confirmed that the Groups stated focus remains to double the size of the Engineered Products Division organically the market looks highly supportive to us!

New commentary at www.investorschampion.com

Goes ex-divi wed 15th feb, 4.8p

Recent AGM statement was very positive
Shares continue to trade at a huge discount to giant peers National Oilwell Varco (2012 PER 13.8x; 2013 11.8x) and Cameron International (2012 PER 17.1x; 2013 12.9x). As CSC returns to form, with the first material order received for CBG and the balance sheet in great shape this looks unjustified. http://tinyurl.com/2vhgn65

There are margin pressures in the manufacturing of large Cylinders, but these should be balanced by the very high margins that can be achieved in the area of in-situ inspection and related services, an area that surely represents the next phase of this Group’s evolution from old style manufacturer to a provider of specialist services to the safety focused environment of oil and gas drilling.

The falling oil price will also be of concern to some, however, new build activity in the area of deep water rigs is very strong and build schedules won’t change as a result of short term oil price falls. Saudi Arabia stated previously that they would like to see oil remaining around $100 / barrel level and they are best placed to ensure this happens!

The growing Engineered Products Division also offers valuable diversification, albeit still within the oil and gas space.

New commentary covering broker upgrades and peer comparison
http://www.investorschampion.com/research/company/pressure-technologies/

New commentary on PRES from Investors Champion
http://www.investorschampion.com/research/company/pressure-technologies/

Incorporates new house broker numbers

According to IC the shares are set to surge. After significantly diversifying its business over the last few years, profits are tipped to surge. The shares factor in little of this and look ridiculously cheap. Broker Charles Stanley forecasts strong earnings growth for the next three years of 32%in 2013, followed by 38% the year after and then 22% in 2015. Yet pressure technology shares trade on a miserly 11.3 times EPS estimates for 2013, dropping to just 8.2 times in 2014. And adjusting for net cash, equivalent to 24p a share, that sinks to just 9.9 times and 7.1 times , respectively.

The sp has gone like a rat up a drain pipe :-)). In IC today - It is growing fast , has cash in the bank, no debt, pays a tasty big dividend and still looks cheap. Non exec Nigel Luckett clearly thinks so. Management has hardly been prolific buyers of the stock in recent times. He has just spent £39,000 on 18,000 shares, now holds 70,000.

Pressure Technologies director raises his stake

Mon, 22 July 2013



It looks like Nigel Luckett, a Non-Executive Director at Pressure Technologies, chose an expensive time to top up his stake as the stock hit a 52-week high on Monday.

Luckett, a former partner of KPMG, bought 18,000 shares at a price of 217.5p each, spending a total of £39,150. He now holds 70,000 shares in Pressure Technologies, equal to a stake of 0.62%.

The firm, which specialises in technology for the containment and control of liquids and gases in pressure systems, saw its share price reach a 52-week closing high of 217.5p last week. Following the purchase on Monday, the shares jumped again to a fresh high of 235p.

Last month, Pressure Technologies announced that revenues in the first half (ended March 30th) totalled £16.4m, up 30% from the year before, while pre-tax profit more than doubled from £0.46m to £1.33m.

Chairman Alan Wilson said: "The interim results show the benefits of the board's diversification strategy and these, combined with on-going opportunities, give us considerable optimism for the future."

Closed up 13% on Friday

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during Friday's trading session when it reached 290.00. Over this period, the share price is up 71.21%.

Contract wins for Chesterfield BioGas

RNS


RNS Number : 1400M

Pressure Technologies PLC

21 August 2013





Embargoed for release at 07.00 hours 21 August 2013



Pressure Technologies plc

("Pressure Technologies", the "Group" or the "Company")



Contract wins for Chesterfield BioGas



Pressure Technologies is pleased to announce that its Alternative Energy division, comprising Chesterfield BioGas Limited ("CBG"), has secured two orders to supply biogas upgraders and ancillary equipment with a combined sales value of £4.6 million.



Both projects use the Totara model biogas upgrader, capable of processing up to 2,000 cubic metres of biogas per hour. The Totara upgrader will clean the raw biogas, produced by anaerobic digestion of the waste, to more than 98% pure biomethane, matching the purity criteria required of natural gas being piped to households and commercial premises.



The new-generation CBG upgrader employs the Greenlane® water-scrubbing method, which uses no heat or chemicals, just water, much of which can be re-cycled. Major improvements have been made recently to the layout and accessibility of the system.



CBG is the sole technology partner in the UK for the Greenlane® systems, which are the most widely proven in this market. More than 70 sites are currently operating successfully around the world; 27 of these employ the Totara model.



CBG will install and commission the upgraders, which have scheduled handover dates in the second-half of the Group's 2014 financial year. Once the sites are operational, CBG will generate additional revenue from a long-term contract to monitor the upgrader's performance and maintenance services.



Stephen McCulloch, Managing Director of CBG said: "These orders mark a step change in the market for biogas upgrading, which is moving from small scale, proof of concept projects to large scale plants, which deliver commercial returns to our customers."



Pressure Technologies Chief Executive, John Hayward, added: "I am very pleased for the team at Chesterfield BioGas. Their dedication and hard work over the last five years is finally reaping rewards. These order wins, together with a very promising pipeline of potential follow on orders, give grounds for considerable optimism for the Biomethane to Grid market in the UK and the outlook for Chesterfield BioGas."

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during today's trading session when it reached 290.90. Over this period, the share price is up 76.30%.

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during Wednesday's trading session when it reached 315.00. Over this period, the share price is up 89.39%.

Onwards and upwards. +4%

Closed up 9.60%

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during today's trading session when it reached 350.00. Over this period, the share price is up 107.58%.

Still a buy in this weeks IC - Pressure Technologies has won two orders for biogas 'upgraders' worth £4.6m. This is a potential game changer, a fact reflected in the subsequent share price rally for the small engineer. Despite that strong performance , we think the shares remain cheap and that further gains are likely. Directors have also given investors a big clue in recent weeks. Last month non-executive Nigel Luckettt spent over £39000 on shares, and finance boss James Lister stuck over 20,000 shares in an isa at 242.5p. At 310p (at time of press, now 300p) pressure techs shares trade on less than 12 times 2014 EPS forecasts net of cash. That's undemanding given that broker Charles Stanley estimates average earnings growth of 33 per cent over the next three years, and admits that even this is conservative.

up 5.43% today, getting towards its high.

Up 11%, not stopping at the moment.

Notice of Results and Trading Update

RNS


RNS Number : 1437R

Pressure Technologies PLC

23 October 2013








23 October 2013



Pressure Technologies plc

(AIM: PRES)



Notice of Results and Trading Update



Pressure Technologies plc (the "Group") is pleased to announce a positive trading update following a strong close to the year ended 28 September 2013.



Trading in the second half of the financial year was strong in both the Cylinders and Engineered Products divisions. The Cylinders division was buoyed by increased demand in the oil and gas sector and a growth in naval defence projects, when compared to 2012, resulting in a better than expected end to the financial year just finished.



In the Engineered Products Division, Hydratron UK delivered a major improvement in sales and profits in the second-half, after a slow start to the financial year. Hydratron Inc, which is based in Houston, Texas, was brought under the direct control of Hydratron UK in May this year and has since been making positive headway in the important US Oil and Gas market. Al-Met continued to grow in line with the increased building of subsea trees for the deep water oil and gas market.



As a result of these various factors, the Group now expects that the results for the year ended 28 September 2013 will be ahead of market expectations. The preliminary results will be announced on Tuesday, 3 December 2013.



Looking ahead to 2014, the Board is expecting further progress in all areas of the Engineered Products Division. Whilst Cylinders is expected to experience a well flagged reduction in margins, arising from aggressive pricing by its Asian competitors, the Directors expect to see a continuation of the high levels of activity in other areas of oil and gas highlighted earlier in the year.



As previously announced, the Alternative Energy Division has secured two large orders for its biogas upgrading systems which will be delivered in 2014 and there is a pipeline of potential follow on orders.



Accordingly, the Board is pleased to begin the new financial year on a positive footing and looks forward to updating shareholders as the year progresses.

A buy in this weeks IC - Pressure Technologies expects to beat full year expectations following a strong second half for its seamless steel cylinders, used widely on oil rigs and submarines, and for high pressure equipment made by the smaller engineered products division. Management expects another good year from the engineered products -team.

Preliminary Results 2013

RNS


RNS Number : 5054U

Pressure Technologies PLC

03 December 2013










3 December 2013



PRELIMINARY RESULTS 2013



Pressure Technologies plc ("Pressure Technologies" or the "Group") announces its preliminary results for the year ended 28 September 2013.



Highlights:

· Record revenue of £34.4 million (2012: £30.4 million) - up 13%

· Operating profit of £2.9 million (2012: £1.8 million) - up 63%

· Basic earnings per share increased to 19.4p (2012: 11.2p) - up 73%

· Progressive dividend policy continues: final dividend of 5.2p per share giving total dividend for the year of 7.8p per share (2012: 7.5p)

· Strong balance sheet maintained - net funds of £4.0m (2012: £2.7 million)

· Large incremental profits were generated in the Cylinders and Engineered Products divisions

· Breakthrough for Alternative Energy Division with large orders secured for delivery in 2014

· Strong order book and pipeline across all divisions of the Group

· Commitment to organic and acquisitive diversification strategy - targets being evaluated

· Board confident of further progress in the current year



Alan Wilson, Chairman of Pressure Technologies, said:



"We have begun the current financial year with an order book 37% higher than last year, so the prospects for a further improvement in performance are very promising. We also continue to develop new products and services across the Group and are planning major capital expenditure over the next two years to expand capacity, improve productivity and quality and increase profitability. In parallel with growing our core businesses, the Board continues to evaluate earnings enhancing acquisitions which complement and add value to our existing portfolio.



I view the year ahead with much enthusiasm and look forward to presenting further evidence of the Group's ability to capitalise on the opportunities which lie ahead."

The market for sub sea trees is booming but next year for PRES is all about Alternative Energy division; another order here moves the needle.
New commentary at http://www.investorschampion.com/research/company/pressure-technologies/

LISTEN: Pressure Tech (PRES) - Preliminary results 2013

Click here to listen

Strategic Investment

http://www.moneyam.com/action/news/showArticle?id=4724251

Pressure Technologies invests US$4mln in gas transport business

By Jamie Ashcroft

December 13 2013, 11:07am
Pressure Technologies invests US$4mln in gas transport business

AIM quoted oil services group Pressure Technologies (LON:PRES) has made a strategic investment in a manufacturer of high pressure vessels for transporting gas.

It will put US$4mln into Texas based GTM Manufacturing, in return for a 40% stake and it also has an option to acquire another 40% of the business in the future.

"It is the board's strategy to complement organic growth with acquisitions that enhance and broaden the company's existing operations.

“We believe that the agreement reached with GTM affords Pressure Technologies an excellent means by which to participate in the growth in the market for the transportation of gases across a wide number of sectors, particularly oil and gas where we already have considerable experience.

"The Investment allows the company to join the expertise of the design and manufacture of high pressure gas cylinders in our subsidiary Chesterfield Special Cylinders (CSC), with GTM's expertise in the production of light-weight composite cylinders and to develop and expand GTM's product range for use in the United States and subsequently further afield.

“We are very excited to be working with Ken Kelley and his team at GTM.

"The board believes that the combination of Pressure Technologies and GTM will enhance the ability to capitalise on the growing market in the transportation of gases."

A buy in IC - More to come from pressure Tech.

A boom in oil and gas exploration has proved lucrative for Pressure Technologies - about 80% of the business depends on it. That was partly responsible for a two-thirds increase in underlying pre-tax profit this year to a forecast beating £3.3m

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during today's trading session when it reached 459.80. Over this period, the share price is up 151.95%.

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during today's trading session when it reached 465.00. Over this period, the share price is up 160.25%.

Closed up 9.04%

Strong buying

:-))

near highs

Here is one that get little notice and is at a new high.

AGM Statement

RNS


RNS Number : 9171Z

Pressure Technologies PLC

13 February 2014




13 February 2014



Pressure Technologies plc

("Pressure Technologies" or the "Group")



AGM Statement



The Board of Pressure Technologies plc issues the following trading update ahead of the Group's AGM, which is being held at 12.00 hours today at the Copthorne Hotel in Cardiff.



The Board is pleased to report a positive start to the year, which has been underpinned by strong order books and pipelines of prospective orders across the Group. At the end of January 2014, the total orders on hand were 39% higher than at the start of the current financial year and 100% higher than at the end of January 2013.



The Group's principal market, oil and gas, has continued to show resilience, and further progress has been made in the naval defence market and at Chesterfield BioGas. Our cylinder product range has also been expanded through our investment in Kelley GTM, manufacturers of welded-steel composite cylinders, which was announced on 13 December 2013. In line with the Group's strategy, the Board continues to seek and evaluate further acquisition opportunities.



Cylinders



Chesterfield Special Cylinders has continued to experience improving demand for its principal product range, air pressure vessels for deepwater semi-submersible oil rigs and drillships, although margins have been impacted by the now long standing pressure on prices from South Korean competition. Further contracts have been won in the naval defence market for submarine build programmes in Germany and Asia for delivery between 2014 and 2018. Sales of our high added value in-situ retest service continue to grow in both the oil and gas and defence markets.



The investment in Kelley GTM, via a loan that has partly converted into a 40% stake, gives the Group a low risk entry into the composite cylinders market and will, over the medium term, lead to the development of both welded and seamless steel lined composite cylinders for the compressed natural gas and hydrogen alternative fuels markets.



Engineered Products



Demand for products from Al-Met and Hydratron has continued to increase. In November 2013, both Al-Met and Hydratron took over £1,000,000 of new orders, a record for a single month.



The first stage of the planned capital investment at Al-Met has been completed, with the addition of an EDM wire cutting machine to expand our capability for the manufacture of components for large gate valves. The second stage, the purchase of a 5-axis mill turning machining centre, will be completed in the second half of the current financial year, giving an enhanced capability for the manufacture of stems for subsea trees. The combined cost of these investments is in the region of £750,000 and has been funded through finance leases.



Hydratron has completed the initial phase of the reorganisation of its manufacturing in the UK, creating more space for the assembly of control panels and test benches to meet the increase in manufacturing activity required to service its growing order book.



Both companies have also increased headcount since year end. Al-Met has recruited a number of skilled operators and additional apprentices, and Hydratron has recruited a specialist Research and Development manager and a number of graduate trainees in sales and engineering.



Alternative Energy



The momentum in Chesterfield BioGas' core market, the sale of biogas upgrading equipment for biogas-to-grid ("BtG"), is growing. Following on from the announcement of a £4.2 million order in January 2014, the division has this week secured a further order amounting to £1.8 million for a BtG project in Scotland. This takes the order book to £10.6 million with project delivery split between the 2014 and 2015 financial years. As with the other divisions, the pipeline of prospective projects remains buoyant.



Summary and outlook



Sales prospects across the Group are very strong and Pressure Technologies is performing in line with the Board's expectations at this stage of the year. The Board is confident that the outcome for the current financial year will be at least in line with market forecasts.

Acquisition & Placing

http://www.moneyam.com/action/news/showArticle?id=4766985

STOCKS NEWS EUROPE-UK AIM index rises as Pressure Tech rallies

Reuters - UK Focus – 4 hours ago
.

Britain's junior-listed AIM shares rise 0.4 percent, outperforming small, mid- and large caps, which shed between 0.2 percent and 0.5 percent.

Shares in AIM-listed Pressure Technologies rise 7.2 percent in volume over 30 times its three-months average as the engineering company agrees to acquire Roota Engineering, an oil & gas industry specialist, in a deal financed through two placings.

"The acquisition is significantly earnings enhancing," Charles Stanley (LSE: CAY.L - news) writes in a note. "Roota is a highly complementary acquisition, operating in markets that are well understood by (Pressure Technology's) management."

Field management specialist ServicePower, also listed in the AIM index, rises 11.1 percent as it unveils a multi-year contract from Swedish appliances maker Electrolux (Other OTC: ELUXF - news) .

Pressure Technologies PLC (PRES:LSE) set a new 52-week high during today's trading session when it reached 715.00. Over this period, the share price is up 271.05%.

cracking chart.

Notice of Results

RNS


RNS Number : 9794H

Pressure Technologies PLC

27 May 2014










Embargoed for release 07:00 on 27 May 2014





Pressure Technologies plc

(AIM: PRES)



Notice of Results and Analyst Briefing



The Board of Directors is pleased to announce that Pressure Technologies plc will release its interim results for the six months ended 29 March 2014 on Tuesday, 10 June 2014. An analyst briefing will be held on that date at 9.00 am prompt at:

ex dividend 09 Jul 14 Pressure Technologies PLC [PRES] (2.8 p)

Acquisition of shares by a Director

RNS


RNS Number : 1173M

Pressure Technologies PLC

11 July 2014








11 July 2014



Pressure Technologies plc

("Pressure Technologies", the "Group" or the "Company")



Acquisition of Shares by a Director



The Board of Pressure Technologies has been informed that James Lister, Finance Director, has today acquired 36,000 ordinary shares in the Company and now holds 66,000 ordinary shares, being 0.46 per cent. of the Company's issued ordinary share capital.



Mr Lister acquired these additional ordinary shares by way of the exercise of share options at a price of 232.5 pence per share. Mr Lister exercised 51,612 options of new ordinary shares and has today sold 15,612 of those ordinary shares at a price of 710 pence per share, to substantially fund the exercise of all of the options. The shares have been acquired by an institutional investor.



The 51,612 new ordinary shares will rank pari passu with the existing ordinary shares in the Company and application has been made for these new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 18 July 2014.



In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the total number of ordinary shares of 5 pence of Pressure Technologies in issue at the date of this notice is 14,320,345.



The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in Pressure Technologies, under the Disclosure and Transparency Rules.

Acquisition

RNS


RNS Number : 9795R

Pressure Technologies PLC

18 September 2014








18 September 2014



Pressure Technologies plc

("Pressure Technologies", the "Company" or the "Group")



Acquisition of the business and assets of Greenlane Biogas Holdings Limited



Pressure Technologies announces that, after completing extensive detailed due diligence, the Company has agreed terms to acquire the business and certain assets of New Zealand based Greenlane Biogas Holdings Limited and those of its various subsidiary companies ("Greenlane" or the "Acquisition"), a leading developer and global supplier of patented technology for upgrading raw biogas to high purity biomethane.



Highlights:



· Greenlane is a leading global provider of Biogas-To-Grid ("BTG") waterwash technology, which has designed and built over 80 biogas plants around the world;



· Greenlane has a global footprint with a strong presence in North & South America and Europe. These markets together with emerging markets in South East Asia and China provide significant growth opportunities;



· Greenlane's applications are used to capture biogases released from multiple waste sources and its technology can be applied to turn landfill gases into biomethane;



· The Board believes that the Acquisition is highly complementary to the Group's existing subsidiary Chesterfield Biogas Limited ("CBG"), which has been working with Greenlane since 2008 under an exclusive licence to sell Greenlane Technology in the UK;



· The Acquisition is expected to be earnings enhancing in the year ending 1 October 2016;



· The Board intends to form an enlarged Alternative Energy subsidiary, comprising CBG and Greenlane;



· The longstanding close working relationship between Chesterfield Biogas and Greenlane is expected to ensure a smooth integration process;



· The Acquisition is part of the Group's stated strategy to expand both organically and by acquisition; and



· The Board believes Greenlane has strong potential as part of the Pressure Technologies group.



The maximum total consideration for the Acquisition is NZ$25 million (£12.4 million), comprising an initial consideration of NZ$12.0 million (£6.0million) with additional deferred payments, split over four years, of up to a maximum of NZ$13.0 million (£6.4 million), based on the future financial performance of Greenlane. The initial consideration will be met from the Group's existing cash resources.



Alan Wilson, Chairman of Pressure Technologies, said: "We believe that this deal represents an excellent opportunity to expand the Group's Alternative Energy division with the acquisition of a business, intellectual property, technology and employees that we know very well. Our intention is to combine Greenlane's proven patented technology with our commercial and management capabilities to capitalise on the significant global market opportunity.



"The Acquisition will be integrated rapidly into the Group over the next six months and the Board expects it to be earnings enhancing in the year ending 1 October 2016."



Rob Fenwick, Chairman of Greenlane, said: "The combination of Greenlane and Pressure Technologies makes very sound business sense. Being part of a strong, growing AIM listed plc gives Greenlane the backing it needs to fulfil its true potential.



"Greenlane is considered one of New Zealand's global cleantech success stories. Under Pressure Technologies' ownership it secures a good cultural fit and I believe the acquisition delivers the best possible value to the stakeholders of both companies."



The effective date of the Acquisition is expected to be 1 October 2014. Further details of the terms of the Acquisition are set out below.



NZ$2.01:£1 exchange rate

Acquisition of Quadscot Holdings Limited

RNS


RNS Number : 1120T

Pressure Technologies PLC

01 October 2014






1 October 2014



Pressure Technologies plc

("Pressure Technologies", the "Company" or the "Group")



Acquisition of Quadscot Holdings Limited



Pressure Technologies announces that it has acquired the entire issued share capital of Quadscot Holdings Limited ("Quadscot") (the "Acquisition"), a provider of high quality computer controlled and conventional precision engineering and machining services primarily to the oil, gas and petrochemical industries.



Highlights



· The Acquisition is complementary to the Group's existing subsidiaries Al-Met Limited ("Al-Met") and Roota Engineering Limited ("Roota") and Quadscot will become part of the Engineered Products division

· Quadscot is a profitable and cash generative business that also benefits from good near term order book visibility

· The Board expects that the Acquisition will be immediately earnings enhancing

· Quadscot has significant opportunities to expand and extend its customer base following a recent large scale expansion of its manufacturing facilities

· The Acquisition is further evidence of the Board delivering on the Group's stated strategy to expand both organically and by acquisition and adhering to its strict acquisition criteria



The maximum total consideration for the Acquisition is £10.3 million (plus cash balances), comprising an initial cash consideration of £7.3 million (plus cash balances) ("Initial Consideration") with additional deferred payments, split over two years, of up to a maximum of £3.0 million, based on the future financial performance of Quadscot ("Additional Consideration"). The Initial Consideration will be met from the Group's new bank facilities and existing cash resources.



Alan Wilson, Chairman of Pressure Technologies, said: "The acquisition of Quadscot is further evidence of the Group's ability to identify well run, profitable businesses that will benefit from being part of Pressure Technologies, whilst also making a significant contribution to the future performance of the Group.



Quadscot has an excellent reputation in its market and we are delighted to welcome all of the employees to the Group."

Final Results

RNS


RNS Number : 1829Z

Pressure Technologies PLC

09 December 2014










Embargoed for release at 07.00 hours 9 December 2014



PRELIMINARY RESULTS 2014



Pressure Technologies plc ("Pressure Technologies" or the "Group") announces its preliminary results for the year ended 27 September 2014.



Financials:

· Record revenue of £54.0 million (2013: £34.4 million) - up 57%

· Underlying operating profit* of £7.8 million (2013: £3.3 million) - up 138%

· Operating profit of £5.6 million (2013: £2.9 million) - up 93%

· Basic earnings per share increased to 28.5p (2013: 19.4p) - up 47%

· Progressive dividend policy: final dividend up 8% to 5.6p per share giving total dividend for the year of 8.4p per share (2013: 7.8p)

· Balance sheet strengthened further with net funds of £5.8 million (2013: £4.0 million)

* before acquisition costs, amortisation on acquired businesses and exceptional costs



Highlights:

· Record revenues and profits with all divisions growing in the year

· Successful share placing in March, raising £16.1 million net

· Strategy of product and market diversification to reduce impact of cyclicality in the oil and gas industry continues apace:
- Acquisition of Roota Engineering, March
- Acquisition of Greenlane Biogas and Quadscot, post year-end

· Engineered Products division is now the largest contributor to revenue and profit

· New organisational structure with four divisions and divisional MDs to be introduced in 2015

· Strong management teams and market positions across all the Group's businesses driving growth

· New financial year began with order book 14% higher than the prior year





Alan Wilson, Chairman of Pressure Technologies, said:



"The Group will continue its growth strategy of combining acquisitions and organic growth. The priority with recent acquisitions is to complete their successful integration, but we may pursue further acquisitions if the right opportunities present themselves.



Continued organic growth must be viewed against a background of low global economic growth, geopolitical tensions and oil price uncertainty. Whilst it is pleasing to report that the Group ended the year with a like for like order book 14% higher than last year, we expect a reduction in sales into the deepwater oil and gas market in Cylinders, but continued growth through our other divisions as a result of our market position and the full year contribution of recent acquisitions. The Board views current market conditions with caution, but we start 2015 in a much stronger and more balanced position overall, so I am optimistic about the year ahead."



-Ends-

Profit warning.

Pressure Technologies has issued an update on recent trading and set out its current expectations for the financial year ending 3 October 2015 ahead of its AGM next week. - See more at: http://www.investorschampion.com/blog/ or http://tinyurl.com/nsnb7xq