4th May 2018 12:48
LONDON (Alliance News) - London Security PLC on Friday reported a rise in annual profit, boosted by favourable foreign exchange movements.
The fire protection company posted a pretax profit of GBP21.6 million for 2017, up from GBP20.6 million the prior year, as revenue grew 9.7% to GBP125.9 million from GBP114.9 million.
Revenue was helped by the movement in the Euro to Sterling average exchange rate, which had a favourable effect of GBP7.3 million on reported revenue.
Distribution costs increased to GBP47.8 million versus GBP42.2 million the year before and administrative expenses grew slightly to GBP29.8 million from GBP28.2 million.
Meanwhile, finance costs came lower year-on-year at GBP392,000 compared to GBP433,000.
The company declared a final dividend of 40.00 pence per share, unchanged from a year earlier.
Shares in London Security were trading 2.6% higher at 2,145.00 pence each on Friday.
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