Pressure Technologies PLC - Sheffield, England-based engineering firm - Announces that process with preferred buyer identified in June for the sale of its precision machined components division is now at an advanced stage and due diligence has been completed. Transaction expected to complete ‘in the very near future’.

Meanwhile, the company now expects full-year performance to be ‘slightly below’ previous guidance after later-than-anticipated defence order placement and project delays in Chesterfield Special Cylinders. It previously expected full-year adjusted earnings before interest, tax, depreciation and amortisation of no less than £1.0 million.

Current stock price: 27.95 pence each, down 0.2% in London on Friday morning

12-month change: down 11%

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