StockMarketWire.com - Specialist engineering group Pressure Technologies posted a deeper annual loss as its sales slipped.

Pre-tax losses for the year through 28 September amounted to £3.1m, compared to losses of £1.4m on-year.

Revenue fell 7% to £32.2m and the company did not pay any dividends for the year.

'Clearly, the opportunities for growth that we anticipated at the beginning of last year didn't materialise until later in the year,' Pressure Technologies said.

'However, recent trading performance, order intake and general bidding activity indicates that we're seeing a period of increased market activity, particularly for oil and gas, so the board expects a much better trading performance from the group this year.'




Story provided by StockMarketWire.com