Member Article

Sheffield’s Pressure Technologies reports pretax profit and record revenue up 57%

Sheffield-based engineering supply firm Pressure Technologies plc has reported record revenue this year, rising 57% from the previous year to £54 million.

Profit before tax also rose to £5.3 million from £2.9 million last year.

The firm has also been on the acquisition trail this year, purchasing Roota Engineering in March and Greenlane Biogas and Quadscot which will be completed at the beginning of next year.

Alan Wilson, chairman of Pressure Technologies, said: “The Group will continue its growth strategy of combining acquisitions and organic growth.

“The priority with recent acquisitions is to complete their successful integration, but we may pursue further acquisitions if the right opportunities present themselves.

“Continued organic growth must be viewed against a background of low global economic growth, geopolitical tensions and oil price uncertainty.

“The Board views current market conditions with caution, but we start 2015 in a much stronger and more balanced position overall, so I am optimistic about the year ahead.”

This was posted in Bdaily's Members' News section by Clare Burnett .