21st Oct 2020 13:54
Croma Security Solutions Group PLC - Hampshire-based security services provider - Pretax profit all but evaporates to GBP87,000 in financial year that ended June 30 from GBP1.4 million the year prior. Generates revenue of GBP32.3 million, down from GBP34.6 million, reflecting retail shop closures. Books impairment charge of GBP860,000 driven by an increase in cost of capital and a depreciation charge of GBP570,000.
However, declares final dividend of 1.2 pence, taking full year payout to 1.95 pence, up from 1.80p the year prior.
"Looking ahead, the group has high levels of cash reserves, no borrowings and remains well placed to expand its security network with interesting new opportunities arising in our markets as a result of the pandemic," says Chair Sebastian Morley.
Cash held as at June-end is GBP4.1 million, up from GBP1.7 million at June 30, 2019.
Current stock price: 67.50p
Year-to-date change: down 29%
By Ife Taiwo; [email protected]
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