Pressure Technologies plc has announced its preliminary results for the full year ended 2nd October 2010, with encouraging signs of recovery in the oil & gas markets and a strong balance sheet maintained.
Although the global economic downturn impacted 2010 sales and profits, the group reflects on a number of key points or encouraging factors in its press statement.
Fully year 2010 saw the transformation of the group through a strategic diversification programme that is well underway, with the acquisition of Al-Met and post year-end, Hydratron. Chesterfield BioGas also successfully completed the first UK biogas to grid project, in another highlight for the group.
While the global economic downturn impacted 2010 sales, operating management and engineering resources strengthened and capital investment and research and development continues, as the Pressure Technologies group invests for the future. Further still, acquisitions and Chesterfield BioGas are expected to show growth in 2011.
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