Pressure Technologies (PRES)

Sector:

Engineering

Index:

FTSE AIM All-Share

73.00p
   
  • Change Today:
    -3.50p
  • 52 Week High: 113.50
  • 52 Week Low: 58.00
  • Currency: UK Pounds
  • Shares Issued: 31.07m
  • Volume: 73,986
  • Market Cap: £22.68m
  • RiskGrade: 319

PressureTechnologies issues profit warning as Covid-19 weighs on FY trading

By Iain Gilbert

Date: Tuesday 03 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Specialist engineering group Pressure Technologies issued a profit warning on Tuesday as the Covid-19 pandemic impacted full-year trading.
Pressure Technologies expects revenues for the year ending 3 October to come to about £25.0m, down from £28.3m a year earlier, with the group also expecting to fall to an adjusted operating loss from last year's £2.2m profit.

The AIM-listed group cited tougher trading conditions, Covid-19 disruption and the deferral of revenues and profits for a defence contract for the softer performance.

However, Pressure Technologies did highlight that investments made since 2019 had underpinned growing diversification and sustainability in both of its divisions, supporting customer acquisitions and new market development in the process.

Chief executive Chris Walters said: "Depressed oil and gas markets and slower than expected turnaround of operational performance have impacted the PMC division and the outlook remains uncertain.

"With further UK-wide lockdown restrictions announced in the last week, Covid-19 continues to impact our target markets, our operations and our people."

As of 1310 GMT, PressureTechnologies shares were down 4.27% at 56.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PRES Market Data

Currency UK Pounds
Share Price 73.00p
Change Today -3.50p
% Change -4.58 %
52 Week High 113.50
52 Week Low 58.00
Volume 73,986
Shares Issued 31.07m
Market Cap £22.68m
RiskGrade 319

PRES Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.98% above the market average66.98% above the market average66.98% above the market average66.98% above the market average66.98% above the market average
47.06% above the sector average47.06% above the sector average47.06% above the sector average47.06% above the sector average47.06% above the sector average
Price Trend
75.97% below the market average75.97% below the market average75.97% below the market average75.97% below the market average75.97% below the market average
94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average
Income Not Available
Growth
29.22% above the market average29.22% above the market average29.22% above the market average29.22% above the market average29.22% above the market average
18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average18.75% above the sector average

PRES Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 18-Feb-16
Paid n/a 18-Mar-16
Amount 0.000p 5.60p

Trades for 24-Sep-2021

Time Volume / Share Price
16:35 602 @ 73.00p
16:29 2 @ 73.00p
16:11 2 @ 73.00p
16:10 2 @ 73.00p
15:54 7,000 @ 72.00p

PRES Key Personnel

CEO Chris Walters
CFO James Locking

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