StockMarketWire.com - AIM-listed Pressure Technologies has reported higher year-on-year revenue and profit ahead of its full-year results announcement.

The board of the engineering company said it expected to report full-year 2019 results in line with market expectations.

Full-year revenue from its Chesterfield Special Cylinders division was higher than in 2018, with the phasing of key contracts benefiting the second half against forecast, while its Precision Machined Components arm reported that full-year order intake and revenue were both higher than the previous year.

A sharp rise in orders and the transition to a divisional operating structure had a greater impact on operational performance than expected, resulting in a lower than forecast improvement in return on sales for the second half and a higher than anticipated year-end order backlog.

CEO Chris Walters said: "This has been a year of significant change for the Group and I am pleased with the positive momentum carried into FY20."

The company will publish results for the year ended 30 September 2019 on 17 December 2019.


At 9:07am: [LON:PRES] Pressure Technologies PLC share price was -4p at 93.5p



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