25th Feb 2019 11:16
LONDON (Alliance News) - Croma Security Solutions Group PLC on Monday reported a stable first half, as profit remained flat even as revenue saw slight growth.
For the six months ended December 31, the security services provider said pretax profit remained flat at GBP1.0 million, on revenue that grew to GBP18.0 million from GBP17.3 million the year before.
The group said the steady performance reflected continued demand for Croma's security services, as well as ongoing UK-wide security concerns.
Revenue growth during the period was aided by new long-term contracts and project work for the Croma Vigilant division, and an improvement in Croma's Locksmiths division which benefited from a contract with a UK water utility provider.
Croma declared an interim dividend of 0.7 pence per share, up 17% from 0.6p the prior year.
"Demand for our services in our last financial year was at a record high and it is pleasing that this demand has continued into the first six months of the current financial year", said Chair Sebastian Morley.
"There is a mixture of contracted and project work, the latter making it harder to predict future revenue levels. However, what is clear is that there has been a step change in demand for CSSG's premium services and as a business we are focused on taking advantage of this opportunity," Morley added.
Shares in Croma Security Solutions were down 1.5% at 101.00 pence on Monday.
Related Shares:
Croma Security