Pressure Technologies: cash balances ahead of expectations
There was a reassuring pre-close trading update from AIM quoted Pressure Technologies plc for its financial year to 3 October 2009.
Trading for the year has continued in line with market expectations (2009 consensus eps 33.04p) and, as anticipated, cash generation in the second half of the year has been strong with year end cash balances ahead of expectations (cash at 28th March 2009 was £6.1m). After experiencing a slow decline in the share price from March 2009 to the end of July, when they hit a low of 155p, the shares have had a terrific run since then, exploding (must be all that pressure!) up to today’s heady level of 225p, which still remains well off the historic high of…