Premier Technical Services Share Discussion Threads

[rivaldo] 28/9/2016 08:55

PTSG made 3.18p EPS in H1 alone and are on track for consensus 6.82p EPS - or more - this year given the recent acquisitions.

Numis reiterate their Buy today, with a 125p target:



Bargain time here imho.

[tjbird] 28/9/2016 08:40

Looking for 40p here

[tjbird] 28/9/2016 07:20

high level of debtors - pauly

[cheshire man] 27/9/2016 18:03

Positive results here this morning IMV :-)

[tattooed93] 27/9/2016 17:29

it was a shambles

[rivaldo] 27/9/2016 13:38

Excellent post Rogers8, cheers. Most of the battle in investing is to do with the management team, and it seems PTSG's management know exactly what they're doing (reminds me of the impression I got of RNWH's management when I met them - that's now a six-bagger or so).

Hi longshanks. The press were strongly hinting this weekend that in the coming weeks the UK Government will outline a huge uplift in national infrastructure spending post-Brexit. This could make the coming years a golden time for the likes of PTSG.

[ggbarabajagal] 27/9/2016 11:57

Mitie second profit warning soon, this sector is bad.

[rogers8] 27/9/2016 11:23

Hi Longshanks,

Could not agree more with your comparison with Restore. Bought at 53p and exited two weeks ago for PTSG.

I have met some of the senior directors who in a previous life built up MacLennan which was eventually sold to Interserve for £116m. Very impressive team.

PTSG have started to export their expertise. See page 4 of the news section and you will find contract win in Barbados and page 5 shows work in Iraq (ptsg website).

Currently have just 6% of their UK market. High barriers to entry and most services are required by law. PTSG feeds off the larger FM companies that do not have the expertise to carry out such services. There maybe a downturn on the way however UK FM seems to weather these storms.

[longshanks] 27/9/2016 10:22

Hi Riv.This one has been on my watchlist a while: should show a similar growth profile to the likes of RST - with a series of value enhancing acquisitions: the headline figures today certainly indicate all is going to plan. My only concern is how "domestic" the business is and on their ability to survive/grow through the Brexit winter that will inevitably descend in 2/3 years time.

[rivaldo] 27/9/2016 09:33

Numis reiterate their Buy today, with a 125p target:



67% upside isn't bad at all....

[tattooed93] 27/9/2016 09:28

This is going red later

[fizzypop] 27/9/2016 08:44

I make the forecast yield 1.92% if the final is also uprated by 52%.

[mfhmfh] 27/9/2016 08:42

looks good to me. onwards and upwards.

[rivaldo] 27/9/2016 07:49

Excellent results - and much confidence for the future, including the likelihood of more earnings-enhancing acquisitions.

With H2 benefiting from the two recent acquisitions, it's possible to see forecasts of 6.84p EPS being beaten.

On not far off a single-figure P/E we should see a decent rise from here.

[mysteronz] 27/9/2016 07:32

21% organic growth looks good to me!

[masurenguy] 27/9/2016 07:32

Sales up 57%, eps up 44% and dividend up 52%

RNS Number : 8745K
Premier Technical Services Grp PLC
27 September 2016

Interim Results 2016

Strong growth, high returns

Premier Technical Services Group PLC ("PTSG" or the "Group"), the niche specialist services provider, announces its interim results for the six months ended 30 June 2016.

Key highlights

-- An excellent start to 2016 with revenue of GBP18.5m (2015: GBP11.7m) an increase of 57%
-- Organic growth contributed strongly at 21%

-- Operating profit growth of 47% to GBP3.7m reflecting strong growth and cost control

-- Gross profit of GBP9.5m up 49%

-- Integration of the 6 '2015 businesses' has been fully completed with a strong contribution to growth in H1

-- New sector expansion with two further acquisitions in 2016 of UK DryRisers and UK DryRisers Maintenance Ltd.

-- Strong contract wins and renewal rate >80%

-- Adjusted EPS of 3.19p up 44% -- In line with our progressive dividend policy the interim dividend has been increased by 52% to 0.70p per share (2015: 0.46p per share)

John Foley, Chairman of PTSG, said: "We have a distinctive, scaleable and efficient operating model which can deliver a broad range of niche specialist services on a national basis. We serve a fragmented, broad customer base and currently provide services to more than 100,000 buildings on behalf of over 12,500 customers. We have identified a pipeline of carefully selected acquisition targets which can in due course further expand our range of service offerings. We intend to continue along the path of producing organic growth on existing and acquired business through the expansion of our service offerings and by gaining market share due to the increased scale, range and efficiency of our activities. The Group is trading in line with recently upgraded market expectations and we continue to face the future with confidence."

[ggbarabajagal] 27/9/2016 07:22

Net debt at 30 June 2016 was GBP7.7m (31 December 2015: GBP6.3m) and the increase in borrowing levels was mainly due to an increase of GBP3.5m in the Group's working capital position. The major elements of that increase were GBP1.2m relating to the timing of prepayments and GBP1.4m which is attributable to the Group's increased turnover since the 2015 year end.



Too much debt in this now

Gross margins also falling



Looks another acqusition driven load of rubbish

[tattooed93] 26/9/2016 21:36

Might go up and then I will short to 40p

Bob Morton is a disaster imho

[buffythebuffoon] 24/9/2016 09:10

No tattooed93, there won't be one. Even if there was it would be part of the Interims.

When you make an attempt at a deramp it's always a good idea to try and make it sound credible, not to mention grammatically correct.

Buffy

[tattooed93] 23/9/2016 18:22

3. Profit warning?

[fizzypop] 23/9/2016 18:18

RP19 Oh Gawd 27 Sep! I must have got over excited at the thought of the annual treat!

[rp19] 23/9/2016 16:53

Ha, you best have a double check otherwise your missus will be getting her card a month late!

[fizzypop] 23/9/2016 13:48

Two major events next Tues 27 Oct:
1. PTSG Interims
2. My 47th Wedding Anniversary

[tattooed93] 21/9/2016 16:06

Dont like the chart myself, sold a while ago didnt like the Lakehouse debacle


Why has ADV got the PE as 128

A PER of 10 would suggest a share price of 5p on that basis

[rivaldo] 21/9/2016 15:06

Looking more and more of a bargain given the recent trading statement above - and July's "immediately earnings enhancing" acquisitions.