5th Nov 2015 10:49
LONDON (Alliance News) - Croma Security Solutions Group PLC on Thursday said its pretax profit edge higher in line with revenue in the year to the end of June, but that its outlook for the coming year is cloudy and an economic recovery has not yet flowed through to all its end markets.
Croma's pretax profit for the year to June 30 was GBP358,837, up from GBP304,584 a year earlier, as revenue increased to GBP15.8 million from GBP14.8 million.
Vigilant, the group's manned guarding division and is biggest revenue generator, had a good year, with revenue up 14% following solid contract wins, but its Security Systems arm has struggled, with delays on orders and client budgets still tight, leaving revenue down 16%. Its Biometric division continued its development, but its Locksmiths business saw revenue fall 8%, albeit with better operating profit following a restructuring of the unit.
For the current financial year, however, Croma said it is cautious on its outlook as the economic recovery has yet to flow through to some parts of the corporate market, meaning it will have to maintain its sales drive to secure continued growth, which may result in higher costs.
Croma shares were down 7.6% to 45.3 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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