gretel
11 Sep 2017
Good news Very encouraging RNS today: - the UK Dry Risers acquisition has performed so well that the full deferred consideration is due - the owners have requested that the £860,000 consideration be paid in shares in PTSG rather than in the previously arranged cash. This shows a terrific confidence in the business going forward....
gretel
08 Sep 2017
Yet more new contracts Another two contracts - I particularly like the 10-year recurring income in the first one::[link] Technical Services Group PLC (PTSG) has been awarded a long-term contract to provide inspections of access equipment at The Chubb Building, 100 Leadenhall Street in London.100 Leadenhall Street is the headquarters of Chubb, the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.The building is a 10-storey high-rise building located in London’s prime EC3 insurance location. As part of the inspection contract PTSG’s Access and Safety division will deploy cradle maintenance engineers to perform yearly inspections and servicing of the building’s cradles for the next 10 years.[link] Technical Services Group PLC (PTSG) has been awarded a lightning protection installation contract at a landmark residential development in Ilford’s town centre.The Britannia Music Site will feature 354 new homes in a mix of one, two and three-bedroom apartments in a range of blocks including a 24-storey tower. The development was acquired by property company Durkan in 2007, who have worked with JLL to bring it to market as an investment opportunity. The development features heavily in the Ilford Housing Zone Plans and will deliver a key part of the town centre’s regeneration.Engineers from PTSG’s Electrical Services Division will attend the Britannia Music Site to install lightning protection systems to a range of new apartment blocks. All systems will be fitted to BSEN 62305 standards and will protect the development from potential structural damage and ensure the safety of residents in the event of a lightning strike.
gretel
07 Sep 2017
Three more contract wins [link] Technical Services Group PLC (PTSG) has been working at Lancaster University to provide a lightning protection upgrade as part of an extensive building remodelling project....PTSG’s Electrical Services division has worked closely with the project’s designers to discreetly reinstall lightning protection systems to the site. The work required a careful and detailed planning process due to the entire site remaining open to students at all times. The project spans 58 weeks in total and is due for completion in Spring 2018.PTSG is no stranger to working in the education sector, and provides a wide range of services for a number of educational facilities, including universities in Hull, Sheffield and Southampton.[link] Technical Services Group PLC (PTSG) has been awarded a contract to install lighting protection systems at a new residential development in East London for Telford Homes.....PTSG’s Electrical Services division will deploy engineers to provide new lightning protection systems at the residential sites, protecting them from potential structural damage in the event of a lightning strike, and also protecting future tenants. PTSG’s Electrical Services division has been regularly deployed throughout London, providing lightning protection schemes for multiple housing association clients, including Paragon Community Housing, Metropolitan Housing and the Decent Homes Initiative."[link] Lightning Protection team wins Notting Hill contractPremier Technical Services Group PLC (PTSG) has secured a contract to provide lightning protection systems at residential sites on behalf of Notting Hill Housing.Engineers from PTSG’s Electrical Services division will attend 14 sites, a combination of buildings, townhouses and flats located on Western Avenue in Ealing to install modern lightning protection systems to the BSEN 62305 standard....PTSG has developed strong partnerships with many UK housing associations, providing a range of niche specialist services to enable the safe and efficient operations of affordable housing. In addition to lightning protection, the company also carries out a range of electrical services, including electrical testing, fire services and steeplejack services for clients nationwide and across the globe."
gretel
23 Aug 2017
More new highs - and news Great stuff. And there's more news here - it's incredibly impressive that PTSG have developed in-housed their own bespoke software to organise its workload, quotes, invoicing etc.Is this something that they could sell/licence out to other businesses? Could be lucrative if so, but if it's so bespoke perhaps not. Anyway, it reflects the high quality of the company imo:[link] Clarity takes front-page spot in PFM MagazinePremier Technical Services Group PLC (PTSG) features on the front cover of August's PFM magazine, with a double-page spread dedicated to the company's innovative Clarity system.The system is made up of four key components: ClarityOFFICE, ClarityPEOPLE, ClarityWORK and ClarityPORTAL. Each element of the system is designed with the specific requirements of individual departments in mind, ensuring that everyone at PTSG, including the administrative team, business development managers and on-site engineers are all able to do their jobs more efficiently.Clarity has been integrated into the business over the last year, and has already processed over two million audited transactions, generating over 30,000 documents. The article covers the benefits the bespoke programme has brought to the Group and its clients, greatly speeding up its processes and creating unbeatable efficiency, more intelligent scheduling and greater levels of safety for engineers.This isn't the first time PFM has covered PTSG's innovative and value-adding Clarity system. In October 2016, the magazine took an in-depth look at the system, detailing the individual aspects of Clarity that make it so effective, giving PTSG's engineers everything they need to do their job safely and efficiently.To view the article in August's PFM Magazine, click here."[link]
gretel
22 Aug 2017
Rising fast again Great stuff. And there's more news here - it's incredibly impressive that PTSG have developed in-housed their own bespoke software to organise its workload, quotes, invoicing etc.Is this something that they could sell/licence out to other businesses? Could be lucrative if so, but if it's so bespoke perhaps not. Anyway, it reflects the high quality of the company imo:[link] Clarity takes front-page spot in PFM MagazinePremier Technical Services Group PLC (PTSG) features on the front cover of August’s PFM magazine, with a double-page spread dedicated to the company’s innovative Clarity system.The system is made up of four key components: ClarityOFFICE, ClarityPEOPLE, ClarityWORK and ClarityPORTAL. Each element of the system is designed with the specific requirements of individual departments in mind, ensuring that everyone at PTSG, including the administrative team, business development managers and on-site engineers are all able to do their jobs more efficiently.Clarity has been integrated into the business over the last year, and has already processed over two million audited transactions, generating over 30,000 documents. The article covers the benefits the bespoke programme has brought to the Group and its clients, greatly speeding up its processes and creating unbeatable efficiency, more intelligent scheduling and greater levels of safety for engineers.This isn’t the first time PFM has covered PTSG’s innovative and value-adding Clarity system. In October 2016, the magazine took an in-depth look at the system, detailing the individual aspects of Clarity that make it so effective, giving PTSG’s engineers everything they need to do their job safely and efficiently.To view the article in August’s PFM Magazine, click here."[link]
gretel
21 Aug 2017
More new highs today And more news flow:[link] dry riser team assists the Guinness PartnershipPremier Technical Services Group PLC (PTSG) has successfully carried out a range of dry riser maintenance works for the Guinness Partnership, turning the work around with incredible speed. The Guinness Partnership was founded in 1890 by the great grandson of the founder of the Guinness Brewery to help homeless people in London and Dublin. It has since grown to become one of the largest providers of affordable housing in England, delivering services for around 135,000 customers across 65,000 homes. The group’s wet and dry riser maintenance company, UK Dry Risers Maintenance, won the contract to service eight of the organisation’s sites and has completed the work just two days later. While the company’s skilled testing engineers were finishing their final few tests, the client requested further testing at three additional sites. This work was successfully completed in just one day."[link] keeps Historic Scotland’s castles in top condition Premier Technical Services Group PLC’s (PTSG’s) rope access teams have been travelling to historic tourist attractions across Scotland to keep them in top condition for the millions of tourists travelling across the world to admire them this summer. The company has been contracted by Historic Environment Scotland to attend sites such as Stirling Castle, Dumbarton Castle and Edinburgh’s Old Tolbooth, among many others, to control and remove vegetation that grows on the structures’ stonework and masonry.etc"
gretel
18 Aug 2017
Re: Good trading update today I suspect those forecasts will be increased nicely as the year progresses given the necessity for tower safety work post-Grenfell.New highs here now. And loads of contract news in the last week - here's just a few:[link] continues lightning protection work with ToyotaPTSG installed a static lightning protection system to the factory’s new paint mix room which will protect both the building and Toyota’s 3,800-strong team from lightning strikes and power surges in bad weather.The group’s Electrical Services division has carried out a series of lightning protection works at Toyota’s Burnaston plant in recent years. This is just one of many contracts the Group has renewed thanks to its high-quality provision of niche services, boasting an impressive contract renewal rate of 88 per cent."[link] handles the pressure for Curo housing associationPremier Technical Services Group PLC (PTSG) has completed a series of dry riser maintenance tests for Curo, a housing association based in Bath.Curo is a house builder and housing association with over 13,000 homes across the West of England. The company is one of largest landlords in the South West, with a diverse portfolio of affordable and market rented homes.etc"[link] steeplejacks inspect Point of Ayr chimneyA team of Premier Technical Services Group PLC’s (PTSG’s) steeplejacks has carried out a safety-critical inspection of a 70m steel chimney at the Point of Ayr gas terminal in Wales.The Point of Ayr gas terminal is located at the mouth of the Dee Estuary in Flintshire, North Wales, and exports gas from the offshore Liverpool Bay fields: Hamilton, Hamilton North, Hamilton East, Lennox and Douglas.The steeplejack team carried out a full internal and external inspection of the terminal’s large steel chimney to make sure the structure was safe and compliant. Skilled operatives also carried out internal confined space refractory repairs to the chimney lining that had been determined in an earlier inspection.Prior to undertaking the work, the team spent two years meticulously planning a rigorous safety regime in order to account for the fact that the chimney is always online. Despite the extra safety measures required not only for working at height, but on such a safety-critical site, the work was successfully carried out within the agreed timescale and budget."
Willow67
09 Aug 2017
Re: Good trading update today Just got to watch their cash position, specifically accounts receivable, as always with companies like this....will be the first thing I look at in their next results in Sept
valuemanbuyer
09 Aug 2017
Re: Good trading update today 8.7p this yr & 9.2p next
Willow67
09 Aug 2017
Re: Good trading update today Agreed gretel, its all looking very positive here with clearly very strong momentum. I haven't seen forecasts for this and next year, have you by any chance? Share look CHEAP
gretel
07 Aug 2017
Good trading update today Encouraging trading update this morning - trading in line with recently upgraded expectations, and H2 has started strongly.They've "noticed an increase in compliance awareness", and this is obviously due to the Grenfell tragedy, though it would be crass to say so directly.I suspect that today's RNS is setting the market up for even better news later in the year given the tone of the statement, which is a nicely prudent strategy:[link] "PTSG, the niche specialist services provider, is pleased to announce the following trading update ahead of its interim results for the six months ended 30 June 2017, which will be issued on Tuesday, 26 September 2017: The Group has previously announced that it was performing well in the first half. This performance has continued, PTSG has noticed an increase in compliance awareness among our 17,000 customers and we have experienced continuing sales growth and strong levels of orders in the year to date. The Group has secured new contract wins across all its disciplines, including a number of multi-discipline framework agreements with new and existing customers and our contract renewal rates remain high, which underpin our organic growth plans.The integration of BEST, which was acquired early in July 2017 to enhance PTSG's number one market position in the lightning protection market, has started well and is progressing to plan. We have begun to drive additional operational efficiencies and opportunities for cross selling new and existing services to the enlarged customers base. Nimbus Lightning Protection Ltd, which was acquired in January 2017, has been fully integrated into the Electrical Services division and is performing in line with our expectations.In the first few weeks of the second half, the Group is trading in line with expectations for the full year as recently upgraded for the BEST acquisition. The directors look forward to providing a full update on the Group's progress in the interim results announcement in September."
gretel
04 Aug 2017
RNS : First Pacific buying more again First Pacific have bought almost another 1.6m shares since their last holdings RNS on 10th April, and now hold 17.53m shares, or 16.9%:[link] % has reduced despite their holding increasing due to the placing and the increased shares in issue.
gretel
01 Aug 2017
Great coverage in the FT I came across this good article in the FT from last month - reads well:[link] in a van delivers growthIt is growing at 50 per cent annually, has made 22 acquisitions in a decade and doubled its share price in two years. Must be a tech start-up? No. This business makes a profit and is rooted firmly in the “real” economy just off the M62 at Castleford.Premier Technical Services Group (PTSG) is an unlikely go-go stock. It does unglamorous things in glamorous places. It provides the maintenance cradles that can be lowered around the Shard, the Gherkin and other tall buildings. It tests electrical and firefighting systems and has been in demand since the Grenfell Tower tragedy.PTSG debuted on Aim in February 2015 and last week used equity for another buy. It raised £15m through the placing of 12.5m shares at 120p, a slight discount to the 130p price.It bought Brooke Edgeley, a Manchester-based lightning protection and steeplejack company for £14m. Paul Teasdale, chief executive, says: “We do specialist services only in a good niche and with high margins. We are not a mainstream maintenance services business.” It has another 60 possible targets in a fragmented industry. Mr Teasdale says it wins repair work on the back of maintenance, so that every £1 in a maintenance contract is doubled. He also claims to deploy his “Man in Van” army more efficiently than rivals. PTSG increased revenue to £39.2m in 2016 from £25.8m in 2015. Adjusted profit before tax, excluding exceptionals, was up 49 per cent to £7.5m. Investors are convinced, with BlackRock the latest to join through the fundraising. Mr Teasdale co-founded the business with chairman John Foley and two others in 2007. He and senior directors still own about 51 per cent. The challenge will come as it grows and outside investors become the majority."
