Pressure Technologies (PRES)

Sector:

Engineering

Index:

FTSE AIM All-Share

81.00p
   
  • Change Today:
    -1.00p
  • 52 Week High: 113.50
  • 52 Week Low: 58.00
  • Currency: UK Pounds
  • Shares Issued: 31.07m
  • Volume: 21,765
  • Market Cap: £25.16m
  • RiskGrade: 319

PressureTechnologies in 'strong' financial position following fundraiser

By Iain Gilbert

Date: Tuesday 30 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Engineering group PressureTechnologies said on Tuesday that trading continued to be in line with management expectations, with the company now in "a strong financial position" following its successful £7.5m fundraising in December.

PressureTechnologies said its Chesterfield Special Cylinders subsidiary had made "good progress" on major contracts for defence, industrial and nuclear energy customers, with momentum gathering further in the fast-developing hydrogen energy market as refuelling station contract wins of over £1.0m were locked in since December from new and established customers.

The AIM-listed group said its pipeline of hydrogen opportunities continued to grow and the visibility of increasing future demand was said to be improving through the development of deeper customer relationships, while investment in production capacity and engineering capability to support hydrogen growth, utilising fundraising proceeds, was set to commence in the second half of the year.

Over at its Precision Machined Components unit, PressureTechnologies said as expected, the impact of the Covid-19 pandemic on the oil and gas market had forced it to reduce the divisions cost base by around 40%, while operational improvement projects were accelerated to support efficiency gains and margin improvement.

Although PressureTechnologies stated the outlook for the oil and gas market remained "uncertain", the group said it was encouraged by strengthening oil prices and steadily improving enquiry levels seen since early February.

"The group's strategy remains focused on the continued development and growth of both divisions. The board is encouraged by the progress being made and expects performance for the full year to be in line with management expectations," said PressureTechnologies.

As of 1140 GMT, PressureTechnologies shares were down 1.64% at 90.0p.

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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 81.00p
Change Today -1.00p
% Change -1.22 %
52 Week High 113.50
52 Week Low 58.00
Volume 21,765
Shares Issued 31.07m
Market Cap £25.16m
RiskGrade 319

PRES Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
61.99% above the market average61.99% above the market average61.99% above the market average61.99% above the market average61.99% above the market average
48.57% above the sector average48.57% above the sector average48.57% above the sector average48.57% above the sector average48.57% above the sector average
Price Trend
67.72% below the market average67.72% below the market average67.72% below the market average67.72% below the market average67.72% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Income Not Available
Growth
29.87% above the market average29.87% above the market average29.87% above the market average29.87% above the market average29.87% above the market average
15.15% above the sector average15.15% above the sector average15.15% above the sector average15.15% above the sector average15.15% 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 20-Sep-2021

Time Volume / Share Price
15:59 3,067 @ 81.49p
15:45 3,048 @ 82.00p
15:14 15,000 @ 87.00p
09:51 19 @ 84.00p
08:00 631 @ 80.00p

PRES Key Personnel

CEO Chris Walters
CFO James Locking

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