FY2020E has been a challenging year on a number of fronts and a significant loss is expected on revenues down 12% at c.£25m and also impairment charges of c.£14m. Nevertheless, the Group enters FY2021E in better underlying shape, with benefits to follow from reorganisation and restructuring, and investment in sales, engineering capability and systems. This provides a platform to capture growth, albeit that no recovery is expected in the next 12 months in the oil & gas market, now c.35% of FY2021 ....
03 Nov 2020
Full year trading update – reinstating forecasts
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Full year trading update – reinstating forecasts
Pressure Technologies plc (PRES:LON) | 40.5 -0.6 (-3.6%) | Mkt Cap: 15.7m
- Published:
03 Nov 2020 -
Author:
Richard Hickinbotham -
Pages:
3
FY2020E has been a challenging year on a number of fronts and a significant loss is expected on revenues down 12% at c.£25m and also impairment charges of c.£14m. Nevertheless, the Group enters FY2021E in better underlying shape, with benefits to follow from reorganisation and restructuring, and investment in sales, engineering capability and systems. This provides a platform to capture growth, albeit that no recovery is expected in the next 12 months in the oil & gas market, now c.35% of FY2021 ....