Pressure Technologies plc
(“Pressure Technologies”, the “Company” or the “Group”)
REVISED NOTICE OF RESULTS
Pressure Technologies (AIM: PRES), the specialist engineering group, today announces a revised date for the publication of its preliminary results for the 52 weeks to 2 October 2021.
The Company's auditor, Grant Thornton UK LLP, has requested additional time to complete its audit procedures due to the practical challenges of the current pandemic environment and more recently due to Covid-19 illness within the audit team and the Company. As a result, the Company now expects to announce its final results on 18 January 2022, a short delay to the previously planned date of 15 December 2021.
As previously announced in the trading update on 12 November 2021, the Group expects to report full-year results in line with current market expectations, including revenue of approximately £25 million (2020: £25.4 million) and an adjusted operating loss of c.£0.8 million (2020: £2.4 million loss), reflecting a strong performance in defence, nuclear and hydrogen energy markets, offset as expected by the impact of difficult trading conditions in the oil and gas market, supply chain disruptions and the delay of Integrity Management deployments from the second half of the year into FY22 and FY23.
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