Preliminary Results

About this update from Chesterfield Special Cylinders Holdings Plc

[{"type":"text","content":"\n \nRNS Number : 1154X Pressure Technologies PLC 17 December 2019  \n\n17 December 2019\n \nPressure Technologies plc\n(\"Pressure Technologies\" or the \"Group\")\n \n2019 Preliminary Results\n \nPressure Technologies (AIM: PRES), the specialist engineering group, announces its preliminary results for the year ended 28 September 2019.   \n \nFinancial Results*\n\n\n\n●     \n\n\nGroup revenue up 34% to £28.3 million (2018: £21.2 million)\n\n\n\n\n●     \n\n\nGross profit up 27% to £9.2m (2018: £7.2 million)\n\n\n\n\n●     \n\n\nAdjusted operating profit more than doubled to £2.2 million (2018: £1.0 million)\n\n\n\n\n●     \n\n\nReported loss before tax of £0.5 million (2018: loss £1.7 million)\n\n\n\n\n●     \n\n\nAdjusted earnings per share of 7.8p (2018:  2.9p)\n\n\n\n\n●     \n\n\nReported basic loss per share of (2.1)p (2018: (7.5)p)\n\n\n\n\n●     \n\n\nAdjusted net operating cash inflow** £2.0 million (2018: £1.9 million)\n\n\n\n\n●     \n\n\nNet debt of £11.4 million (2018: £6.7 million)\n\n\n\n\n●     \n\n\nOperating cash outflow from discontinued operations of £2.5 million \n\n\n\n\n●     \n\n\nWorking capital increased by £2.2 million to £7.4 million (2018: £5.2 million)\n\n\n\n* continuing operations only excluding acquisition costs, amortisation on acquired businesses and exceptional charges and credits\n** before cash outflow for exceptional costs\n \n \nOperational Highlights\n\n\n\n●     \n\n\nImproved trading performance and operating results in line with market expectations, driven by UK and export defence contracts and increasing momentum in the global oil and gas market\n\n\n\n\n●     \n\n\nStrategic progress made with the divestment of non-core operations, recovery of profitability and organic growth in both divisions \n\n\n\n\n●     \n\n\nIntegration of Precision Machined Components (PMC) subsidiary companies completed, with operational improvements made across the division demonstrating scalability and growth, with margins improved since year end\n\n\n\n\n●     \n\n\nOrder backlog ...

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