Momentum improves for Pressure Technologies

Pressure Technologies' chief executive John Hayward

SPECIALIST engineering group Pressure Technologies said it was seeing improved momentum across the group, despite suffering a half year loss before tax of Â£2.6m

In the 26 weeks to April 1 2017, the Sheffield-based group’s revenue was £17.7m, compared with £16.2m in the same period the year before.

John Hayward, the CEO of Pressure Technologies, said: “Our manufacturing divisions are 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. The restructured Alternative Energy Division has a solid platform on which to grow.

“While 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.”