Record revenue at Pressure Technologies

04 December 2014

Sheffield-headquartered Pressure Technologies has reported record full-year revenue of £34.4m. Group sales for the year to 28 September 2013 rose from £30.4m and yielded a pre-tax profit of £2.9m.

The major markets of all of Pressure Technologies three divisions, cylinders, engineered products and alternative energy, have all experienced significant volume growth.

Chairman Alan Wilson said the current financial year had started with an order book of 37 per cent up on last year, "so the prospects for further improvement in performance are very promising."

"We also continue to develop new products and services across the group and are planning major capital expenditure over the next two years to expand capacity, improve productivity and quality and increase profitability," said Wilson.

"In parallel with growing our core business, the board continues to evaluate earnings enhancing acquisitions which complement and add value to our existing portfolio."