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 £25 million (2020: £25.4 million) and an adjusted operating loss of c.£0.8 million (2020: £2.4 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.
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For further information, please contact:
| Pressure Technologies plc Chris Walters, Chief Executive James Locking, Chief Financial Officer | Tel: 0330 015 0710 PressureTechnologies@houston.co.uk |
| Singer Capital Markets (Nomad and Broker) Mark Taylor / Asha Chotai | Tel: 0207 496 3000 |
| Houston (Financial PR and Investor Relations) Kate Hoare / Kay Larsen / Ben Robinson | Tel: 0203 701 7660 |
COMPANY DESCRIPTION
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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