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Pressure Tech. swings to H1 reported pretax loss

13 June 2017 07:34

Pressure Technologies has swung to an H1 reported pretax loss of £2.6m, from a year-earlier profit of £0.9m.

Its revenue for the period was £17.7m, from £16.2m.

CEO John Hayward said the company's Manufacturing Divisions were now experiencing an upward trajectory in sales revenue and profits.

"Several strands of market and product development should provide the momentum to maintain this progress," he said.

"The restructured Alternative Energy Division has a solid platform on which to grow.

"Whilst timing of orders continues to be a source of frustration there are clear signs, particularly in North America, that significant market growth can be expected over the remainder of the decade."

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