Preliminary Results 2009

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[{"type":"text","content":"\n RNS Number : 7275D Pressure Technologies PLC 08 December 2009  \n \nPRELIMINARY RESULTS 2009\nPressure Technologies plc (\"Pressure Technologies\" or the \"Group\") is pleased to announce its preliminary results for the full year ended 3 October 2009.\n\nFinancial highlights:\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue increased to £26.2 million (2008: £23.7 million)\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit of £5.0 million (2008: £4.9 million)\n\n\n\n\n\n\n\n\n\n\n\n\nUnderlying operating profit of £5.4 million (2008: £4.9 million)\n\n\n\n\n\n\n\n\n\n\n\n\nPre-tax profit of £5.1 million (2008: £5.0 million)\n\n\n\n\n\n\n\n\n\n\n\n\nBasic earnings per share of 32.1p (2008: 31.6p)\n\n\n\n\n\n\n\n\n\n\n\n\nStrong balance sheet - net cash increased to £7.9 million (2008: £5.9 million)\n\n\n\n\n\n\n\n\n\n\n\n\nFinal dividend raised to 4.4p per share (2008: 4.0p)\n\n\n\n\n\n\n\n\n\n\n\n\nOutlook for 2010 in line with market expectations and significant organic growth expected in 2011\n\n\n\n\n\nDivisional highlights:\n \n\n\n\n\n\n\n\n\n\n\n\nChesterfield Special Cylinders:\n\n\n\n\n\n\n\n\n-\n\n\nSubstantial order book, containing significant higher added value defence contracts\n\n\n\n\n\n\n\n\n-\n\n\nUK sales doubled\n\n\n\n\n\n\n\n\n-\n\n\nIntroduction of business units expected to deliver major benefits to Small Cylinders\n\n\n\n\n\n\n\n\n\n\n\n\nChesterfield BioGas:\n\n\n\n\n\n\n\n\n-\n\n\nStrong market profile\n\n\n\n\n\n\n\n\n-\n\n\nProject quotations in hand of £10 million spread over three years\n\n\n\n\n\n\n\n\n-\n\n\nGovernment announcement on Renewable Heat Incentive expected early in 2010\n\n\n\n\n\nRichard Shacklady, Chairman of Pressure Technologies, said: \"I am pleased to report that the Group has continued to thrive and progress its diversification strategy, despite the worst market and financial turbulence experienced for over 20 years.  \n\nOur secure market position and strong balance sheet are enabling us to actively pursue relevant, realistically priced acquisition targets.\"\n \nFor further information, please contact:\n\n\n\n\n\nPressure Technologies plc\nJohn Hayward, Chief Executive\nJames Lister, Group Finance Director\n\n\n\nToday: 01653 618 016\nThereafter: 0114 242 7500\nwww.pressuretechnologies.co.uk\n\n\n\n\nRawlings Financial PR Limited\nCatriona Valentine\nKeele...

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