Preliminary Results 2013

About this update from Chesterfield Special Cylinders Holdings Plc

[{"type":"text","content":"\n \nRNS Number : 5054U Pressure Technologies PLC 03 December 2013  \n\n \n \n \n3 December 2013\n \nPRELIMINARY RESULTS 2013\n \nPressure Technologies plc (\"Pressure Technologies\" or the \"Group\") announces its preliminary results for the year ended 28 September 2013.\n \nHighlights:\n·     Record revenue of £34.4 million (2012: £30.4 million) - up 13%\n·     Operating profit of £2.9 million (2012: £1.8 million) - up 63%\n·     Basic earnings per share increased to 19.4p (2012: 11.2p) - up 73%\n·     Progressive dividend policy continues: final dividend of 5.2p per share giving total dividend for the year of 7.8p per share (2012: 7.5p)\n·     Strong balance sheet maintained - net funds of £4.0m (2012: £2.7 million)\n·     Large incremental profits were generated in the Cylinders and Engineered Products divisions\n·     Breakthrough for Alternative Energy Division with large orders secured for delivery in 2014\n·     Strong order book and pipeline across all divisions of the Group\n·     Commitment to organic and acquisitive diversification strategy - targets being evaluated \n·     Board confident of further progress in the current year\n \nAlan Wilson, Chairman of Pressure Technologies, said:  \n \n\"We have begun the current financial year with an order book 37% higher than last year, so the prospects for a further improvement in performance are very promising. We also continue to develop new products and services across the Group and are planning major capital expenditure over the next two years to expand capacity, improve productivity and quality and increase profitability. In parallel with growing our core businesses, the Board continues to evaluate earnings enhancing acquisitions which complement and add value to our existing portfolio.\n \nI view the year ahead with much enthusiasm and look forward to presenting further evidence of the Group's ability to capitalise on the opportunities which lie ahead.\"\n \n-Ends-\n \nFor further information, please contact:\n \n\n\n\n\nPressure Technologies plc\nJohn Hayward, Chief Executive\nJames Lister, Group Finan...

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