Premier Technical sees 'continued strong performance' in first half of trading year

8th Aug 2018 09:38

(Sharecast News) - Specialist services provider Premier Technical Services Group provided shareholders with an update ahead of its interim results on Wednesday.PTSG told investors it had seen a "continued strong performance" throughout the first half of its trading year, driven by a "marked increase" in compliance and testing work, with high activity levels across all divisions.The AIM-listed firm revealed that contract renewal rates had remained high and "a number of new and significant contracts" were won during the first half of the year across our range of services, including The Department of Work and Pensions with Interserve, FirstPort, and the Ministry of Justice's new facilities management company, Government Facilities Services.PTSG highlighted that the majority of its new contract wins ran from three to five years, and ranged in value from £500,000 to £1m per year, which, in addition to its existing customer base, provided the firm with an "excellent revenue visibility" over the medium-term.Looking forward, PTSG stated that trading momentum had continued into the first few weeks of the second half with high levels of demand from new and existing customers for essential building services."As a result, the board remains confident of delivering full-year expectations and in the significant long-term growth opportunity for PTSG," the group said.As of 0940 BST, PTSG shares had ticked up 0.67% to 188.75p.