Premier Technical Services expects minimal impact from Carillion liquidation

Niche specialist services company Premier Technical Services Group (PTSG) anticipated that results for its most recent trading year would be in line with the board's expectations.

Premier added that the successful integration of Best Lightning Protection, acquired in July 2017, and UK Sprinklers, picked up in September 2017, would likely push the firm materially ahead of current market forecasts, thanks to ongoing progress at the recently acquired units as well as a strong order book and pipeline.

PTSG also noted that expected impacts from the liquidation of Carillion, of which the firm undertook an estimated £800,000 worth of work for per year, to be minimal, with the work to be taken on by existing Premier clients.

The firm had an outstanding net debt of £300,000 due from Carillion which had been fully accounted for in its 2017 balance sheet.

Premier was set to announce its fully audited results for the year ended 31 December on 20 March.

John Foley, chairman of PTSG, said, "Our strong performance reflects the success of our strategy to seek market dominance through organic growth and carefully selected acquisitions. We have a healthy pipeline of potential acquisitions to complement our unique business model, and will continue to appraise opportunities as they arise."

As of 1000 GMT, shares had risen 3.84% to 178.60p.