Pressure is on for higher profits in 2012

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Pressure Technologies says it plans to maintain its dividend payout to shareholders even though profits will be substantially lower than expected.

The Meadowhall-based group says the decline in profits is due to changes in the sales mix at its Chesterfield Special Cylinders and Engineered Products divisions, as well as marginally lower sales at its Chesterfield BioGas subsidiary.

It adds that there seems to be a significant upturn in demand for equipment for deep water oil rigs and drilling ships and it has already received ourders to supply twice as many drilling ships in 2012.