Good morning, it's Paul here!

I'm making a guest re-appearance, as Graham's busy today (Monday).

Graham's doing the main SCVR writing this summer, as I'm taking a sabbatical. However, I'll still pop up here every now & then, whenever Graham needs some cover, and to comment on stocks mentioned in Graham's articles.



Premier Technical Services (LON:PTSG)

Share price: 172.5p (unchanged today, at 08:33)
No. shares: 104.5m
Market cap: £180.3m

AGM statement (trading update)

This is what the group activities are;

Premier Technical Services Group PLC is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, steeplejack and rope access services and fire solutions.

Operating through four divisions, Access & Safety, Electrical Services, Building Access Specialists and Fire Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.


This seems a reassuring update. The company's next year end is 31 Dec 2018;

"I am pleased to report that the Group has seen continued sales growth and strong levels of orders in the year to date.

In addition, working capital utilisation, margin and profit levels are in line with the Board's expectations.


Outlook comments also reassure;

"Contract renewal rates remain high and a number of significant three to five year contracts and framework agreements have been signed across all disciplines with new and existing customers since the beginning of the financial year, underpinning our organic growth strategy.  


Acquisitions - going well also;

"The acquisitions completed last year are contributing significantly to the growth of the Group. We have been particularly pleased with the improvement in the contract renewal rates for BEST since its acquisition last year.  In addition, we are seeing unprecedented demand for Fire Solutions with UK Sprinklers trading 50% ahead of the acquired business."


The group seems to have a canny eye for acquisitions. When I met the Yorkshireman CEO a couple of years ago, he didn't strike me as the sort of chap who would overpay for anything!

Balance sheet - a reader dismissed my focus on balance sheets last week, quoting Mark Minervini's comments on this matter. Of course I'm not suggesting that the balance sheet is the sole driver of success in investing.…

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