7th Dec 2018 11:24
LONDON (Alliance News) - UniVision Engineering Ltd on Friday said its profit multiplied in the first half of its current financial year on improved margin and higher income from construction contracts.
The surveillance systems supplier said pretax profit for the six months to the end of September multiplied to GBP1.0 million from GBP213,000 reported for the same period a year earlier, as revenue almost tripled to GBP6.4 million from GBP2.3 million.
The results were driven by strong growth in the income from construction contracts and improved gross profit margin, the company said.
Administration expenses for the period increased to GBP591,000 from GBP465,000 the year prior, due to the higher rental expenses, repairs & maintenance costs, and electricity charges.
Looking forward, UniVision Engineering said it renewed the contract with public transport provider MTR Corp Ltd for three years to the end of 2020.
The company provides maintenance services to MTR's network of CCTV systems and public address systems on seven railway lines in Hong Kong.
"The high demand for its network and high definition security and surveillance system provides the group with an excellent opportunity for future growth in these markets," said Executive Chairman Stephen Sin Mo Koo.
UniVision Engineering shares were trading 12% lower on Friday at 2.21 pence each.
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