Pressure Technologies PLC Revised Notice of Results (1942V)
December 10 2021 - 2:00AM
UK Regulatory
TIDMPRES
RNS Number : 1942V
Pressure Technologies PLC
10 December 2021
Pressure Technologies plc
("Pressure Technologies", the "Company" or the "Group")
REVISED NOTICE OF RESULTS
Pressure Technologies (AIM: PRES), the specialist engineering
group, today announces a revised date for the publication of its
preliminary results for the 52 weeks to 2 October 2021.
The Company's auditor, Grant Thornton UK LLP, has requested
additional time to complete its audit procedures due to the
practical challenges of the current pandemic environment and more
recently due to Covid-19 illness within the audit team and the
Company. As a result, the Company now expects to announce its final
results on 18 January 2022, a short delay to the previously planned
date of 15 December 2021.
As previously announced in the trading update on 12 November
2021, the Group expects to report full-year results in line with
current market expectations, including revenue of approximately
GBP25 million (2020: GBP25.4 million) and an adjusted operating
loss of c.GBP0.8 million (2020: GBP2.4 million loss), reflecting a
strong performance in defence, nuclear and hydrogen energy markets,
offset as expected by the impact of difficult trading conditions in
the oil and gas market, supply chain disruptions and the delay of
Integrity Management deployments from the second half of the year
into FY22 and FY23.
END
For further information, please contact:
Pressure Technologies plc Tel: 0330 015 0710
Chris Walters, Chief Executive PressureTechnologies@houston.co.uk
James Locking, Chief Financial
Officer
Singer Capital Markets (Nomad Tel: 0207 496 3000
and Broker)
Mark Taylor / Asha Chotai
Houston (Financial PR and Investor Tel: 0203 701 7660
Relations)
Kate Hoare / Kay Larsen / Ben
Robinson
COMPANY DESCRIPTION
www.pressuretechnologies.com
With its head office in Sheffield, the Pressure Technologies
Group was founded on its leading market position as a designer and
manufacturer of high-integrity, safety-critical components and
systems serving global supply chains in oil and gas, defence,
industrial and hydrogen energy markets.
The Group has two divisions, Chesterfield Special Cylinders and
Precision Machined Components.
Chesterfield Special Cylinders (CSC) -
www.chesterfieldcylinders.com
-- Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH
Precision Machined Components (PMC) - www.pt-pmc.com
-- Precision Machined Components includes the Al-Met, Roota
Engineering, Quadscot Precision Engineers and Martract brands
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END
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