Pressure Technologies (GB:PRES) has released an update.
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Pressure Technologies PLC reported increased group revenue of £15.0 million for the first half of FY24 compared to the previous year, despite a decline in gross profit and a reported loss before tax of £1.2 million. The company is undergoing a sale process for its Precision Machined Components division, with completion expected in August 2024, and anticipates stronger performance in the second half of FY24, especially from the Chesterfield Special Cylinders division due to new contract wins and government investment in hydrogen infrastructure.
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