Premier Technical Services Share Discussion Threads

[rivaldo] 01/8/2017 11:53

I came across this good coverage in the FT from last month - reads well:



"Man in a van delivers growth

It is growing at 50 per cent annually, has made 22 acquisitions in a decade and doubled its share price in two years. Must be a tech start-up? No. This business makes a profit and is rooted firmly in the “real” economy just off the M62 at Castleford.

Premier Technical Services Group (PTSG) is an unlikely go-go stock. It does unglamorous things in glamorous places. It provides the maintenance cradles that can be lowered around the Shard, the Gherkin and other tall buildings. It tests electrical and firefighting systems and has been in demand since the Grenfell Tower tragedy.

PTSG debuted on Aim in February 2015 and last week used equity for another buy. It raised £15m through the placing of 12.5m shares at 120p, a slight discount to the 130p price.

It bought Brooke Edgeley, a Manchester-based lightning protection and steeplejack company for £14m. Paul Teasdale, chief executive, says: “We do specialist services only in a good niche and with high margins. We are not a mainstream maintenance services business.”

It has another 60 possible targets in a fragmented industry. Mr Teasdale says it wins repair work on the back of maintenance, so that every £1 in a maintenance contract is doubled. He also claims to deploy his “Man in Van” army more efficiently than rivals.

PTSG increased revenue to £39.2m in 2016 from £25.8m in 2015. Adjusted profit before tax, excluding exceptionals, was up 49 per cent to £7.5m. Investors are convinced, with BlackRock the latest to join through the fundraising. Mr Teasdale co-founded the business with chairman John Foley and two others in 2007. He and senior directors still own about 51 per cent. The challenge will come as it grows and outside investors become the majority."

[rampmeister] 27/7/2017 10:00

Don't believe post Grenfell environment reflected in share price. Looking for quick rise beyond 15Op once penny drops with wider investment community.

RM

[martinthebrave] 25/7/2017 09:44

Thanks for the updates Rivaldo. Been buying more the past couple of days. There must be an upgrade around the corner.

[rivaldo] 25/7/2017 09:20

New fire services contracts are coming along like buses now....here's yet another one, this time extending a prior contract to 51 student halls of residence:



"PTSG increases fire services contract with Liberty Living Students

Premier Technical Services Group PLC (PTSG) group company, UK Dry Risers, has been contracted by Liberty Living to service and maintain sprinkler systems across all of its UK sites for the next three years.

Liberty Living, a leading students’ accommodation provider, opened its first student residence in 1999, and has since grown to open sites in 21 cities across the UK and Europe. The company houses approximately 25,000 students and has 51 halls of residence across the UK.

UK Dry Risers was acquired by PTSG on 4th July 2016, and has carried out the servicing and maintenance of Liberty Living’s dry risers, wet risers and fire hydrants for the past five years, developing a strong relationship with the company as a reliable and high-quality service provider. This contract has now increased to cover the servicing and maintenance of sprinkler systems across all 51 of its UK halls of residence, ensuring that the students and management teams at these sites are as safe as possible at all times.

PTSG’s dry riser division is the leading installer of wet and dry risers in the UK, and also offers a comprehensive maintenance and testing service. The group’s engineers have a strong reputation for delivering work quickly and effectively, often working to short timescales to ensure that the safety of its clients’ residents or employees is never compromised."

[rivaldo] 24/7/2017 23:25

Apad, you must have quite a stake here now. I made a couple of small top-ups recently too.

I'm assuming there'll be an H1 trading update in the next 2-3 weeks as per the last 2 years (August 3rd and 11th). Hopefully it'll wake the market up to all the new work being gained and the potential work still to be gained post-Grenfell, in which case holders here should do nicely.

[apad] 24/7/2017 16:18

Doing my bloody best, riv.

Purchases on:
9-Aug-2016
20-Sep-2016
22-Dec-2016
28-Feb-2017
3-Mar-2017
10-Mar-2017
13-Mar-2017
15-Mar-2017
24-Mar-2017
11-Jul-2017
19-Jul-2017
20-Jul-2017

But I could do without your eminently sensible, informative, irritating posts :-)

apad

[rivaldo] 24/7/2017 15:48

:o)) Apologies APAD....looks like the market is finally catching on so you'd better be quick.

[apad] 24/7/2017 15:06

riv, will you just stop it!
When I am fully invested, you can carry on :-)
apad

[simso] 24/7/2017 12:38

Great spot Rivaldo. I am personally helping with this price recovery of the last 15 minutes, and finding it hard to buy in size.

[rivaldo] 24/7/2017 11:55

OK, this really is huge now - PTSG are to assist in testing cladding on THOUSANDS of high-rise buildings.....

That's THOUSANDS. What will that be worth to profits?

This share is only going one way. Today's seller is completely bonkers imho! And note the last sentence too....



"PTSG’s specialist rope access team to assist in cladding testing for thousands of high-rise buildings

Premier Technical Services Group PLC (PTSG) has received a contract to assist a leading property management company in testing the external cladding on its UK portfolio in order to ensure total compliance with fire safety regulations.

The project will see the Group’s highly experienced abseilers and steeplejacks using rope access techniques to retrieve samples of cladding made of aluminium composite material (ACM) from high-rise buildings across the UK. These samples will then be sent for safety checks to ensure they are in good condition and are totally compliant.

In the aftermath of the Grenfell Tower fire, owners of high-rise buildings are sending samples of external ACM panels for rigorous testing to ensure that the safety of building occupants is maintained and that government regulations are met. These tests are required on all buildings over 18m high, and aim to give building owners the information they need to ensure their residents remain protected.

PTSG’s client has a diverse portfolio of over 10,000 commercial and residential properties. Taking samples from these buildings is a challenging task, with no balconies or wide-opening windows to allow access from within. Instead, PTSG’s skilled engineers will utilise rope access techniques to safely reach the required areas and retrieve panel samples for testing.

The group’s wide-ranging fire service offering supports clients like this across the UK in ensuring their building users are adequately protected from fires. Its dry riser division has secured a string of maintenance and servicing contracts for wet risers, dry risers and sprinkler systems in recent weeks, including significant contracts for Morgan Sindall and Unite Students."

[apad] 21/7/2017 13:45

I appreciate your posts a lot, riv.
I'm on a 30% profit with PTSG, having bought 12 times since Aug last year, but it's not nearly enough.
Thank you Paul Scott for getting it wrong :-)
apad

[rivaldo] 21/7/2017 11:54

:o))

Better hurry up APAD, there's yet another new fire safety contract win.....note the increased scope to cover sprinkler maintenance and servicing:



"PTSG increases fire services contract with Liberty Living Students

"Premier Technical Services Group PLC (PTSG) group company, UK Dry Risers, has been contracted by Liberty Living to service and maintain sprinkler systems across all of its UK sites for the next three years.

Liberty Living, a leading students’ accommodation provider, opened its first student residence in 1999, and has since grown to open sites in 21 cities across the UK and Europe. The company houses approximately 25,000 students and has 51 halls of residence across the UK.

UK Dry Risers was acquired by PTSG on 4th July 2016, and has carried out the servicing and maintenance of Liberty Living’s dry risers, wet risers and fire hydrants for the past five years, developing a strong relationship with the company as a reliable and high-quality service provider. This contract has now increased to cover the servicing and maintenance of sprinkler systems across all 51 of its UK halls of residence, ensuring that the students and management teams at these sites are as safe as possible at all times.

PTSG’s dry riser division is the leading installer of wet and dry risers in the UK, and also offers a comprehensive maintenance and testing service. The group’s engineers have a strong reputation for delivering work quickly and effectively, often working to short timescales to ensure that the safety of its clients’ residents or employees is never compromised."

[apad] 21/7/2017 08:17

Bloody well hope not, riv, I'm still buying.
apad

[rivaldo] 20/7/2017 22:57

Nice move this afternoon. Hopefully the news is spreading.

[rivaldo] 20/7/2017 09:05

More news, and more fire safety work.....



"PTSG continues to keep Unite compliant

Premier Technical Services Group PLC (PTSG) has renewed its contract with Unite Students to carry out a range of maintenance services that will ensure its fire safety measures are always in top condition.

Unite Students is the UK’s largest manager and developer of purpose-built student accommodation. The company was founded in 1991, and now provides a home for around 50,000 students across 28 leading university cities in England and Scotland.

Over the next five years, PTSG will continue to attend Unite’s 140 properties across the UK to test and maintain their dry and wet risers, fire hydrants, sprinklers and sprinkler pumps.

The Group also provides a multitude of other services for the accommodation company, including the testing and certification of a range of access and safety equipment. In 2015, this partnership won the ‘Partners in SME Organisations’ award at the annual Premises and Facilities Management (PFM) awards for the outstanding collaboration demonstrated by the two companies.

This is just one of many contracts the Group has renewed thanks to its high-quality provision of niche services, boasting an impressive contract renewal rate of 88 per cent. Over its 10 years of operation, PTSG has grown to become an international multi-disciplinary service provider with thousands of clients across the public, private and voluntary sectors."

[rivaldo] 19/7/2017 12:11

News - here we go, this is just the start of the fire safety testing work to be had post-Grenfell....



"PTSG on hand for Morgan Sindall

Premier Technical Services Group PLC (PTSG) has successfully completed a large maintenance project for Morgan Sindall over just one weekend.

Morgan Sindall is a British-based construction services business headquartered in London. It was founded in 1977, and has since grown to employ around 6,000 people across its six divisions.

PTSG’s wet and dry riser maintenance division was brought in by the construction company to test 18 sites in its portfolio. This work required a quick turnaround, and the Group’s maintenance teams were able to complete all tests and inspections by the end of the very next day.

The tests carried out at these sites ensure that each building is safe and compliant, and that its fire safety systems are always able to operate at their full capacity.

PTSG is the leading specialist installer of wet and dry riser systems in the UK and this maintenance service forms part of its broad package of fire safety services. The Group’s wet and dry riser engineers have worked on a wide range of projects throughout the country, including prestigious contracts at the Olympic Park and Anfield Stadium."

[rivaldo] 18/7/2017 11:46

Cheers mw8156, and agreed. Much of PTSG's work is recurring and necessary rather than capital expenditure-related. Plus with the new UK-wide necessity for tower and building inspection post-Grenfell the company should continue to thrive imo. In addition there is certainly the likelihood of more acquisitions in the pipeline.

And today's £300,000 director buy is something to take note of :o))

EDIT - per today's second RNS looks like one director bought straight off another - the NED McDowell has sold around 7% of his holding, so fairly immaterial from his point of view if not the buyer's.

[mw8156] 18/7/2017 10:56

looks as though rmmc has sold its stake on concerns over 'cyclicality of tower cradles as Brexit bites' but ptsg is involved in safety critical work that is largely mandatory; there is presumably plenty of competition but I am not sure that cyclicality will be quite so severe as in other construction sectors such as pvc double glazing and other rmi.

[rivaldo] 18/7/2017 07:34

Huge director buying....a subsidiary company director has bought £300,000 of shares at 116.48p and 115p:



That's some vote of confidence.

[simso] 18/7/2017 07:32

Looks like some pretty substantial purchasing by a Colin Clinkard, subsidiary director, over the last few days!

[rivaldo] 12/7/2017 13:58

Only 120k shares have been traded yesterday and today. Looks like just a drift on a little profit-taking. A sudden bounce back wouldn't surprise me given the cheap fundamentals and rosy prospects.

[mw8156] 11/7/2017 17:34

seems the market is not impressed by the increased revolving credit facility which probably indicates more acquisitions?

[panic investor] 11/7/2017 12:59

trouble is most of the Nasdaq is way overvalued and it doesn't;t matter how cheap anything is if that eventually corrects !