6th May 2015 08:30
LONDON (Alliance News) - London Security PLC Wednesday said profit and revenue fell in 2014 as it was hit by the weak euro, although it predicted an improvement in growth in 2015 as signs of a slow recovery emerge.
The fire protection products company reported a pretax profit of GBP19.0 million for 2014, down from GBP19.9 million in 2013, as revenue fell to GBP100.9 million from GBP101.4 million.
It said that had exchange rates remained constant, revenue would have risen 3.5% and operating profit by 3.0%.
"This performance is very satisfactory and whilst the trading environment remains difficult we are hopeful of growth returning to our market," it said, adding that it's continuing to look for acquisitions across Europe.
London Security said it will pay a final dividend of 0.31 pence for 2014, flat on the year, bringing the total for the year to 0.62p.
Its shares were untraded Wednesday morning. The stock last traded at 2,240.00p.
By Steve McGrath; [email protected]; @stevemcgrath1
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