22nd Jan 2009 11:14
Petards Group plc
("Petards" or "the Group")
AGM Statement & Trading Update
Petards, the AIM quoted listed developer of advanced security and surveillance systems, announces that at its Annual General Meeting held today all resolutions laid before the meeting were duly passed.
In his statement to shareholders, Tim Wightman, Chairman of Petards, provided the following trading update in respect of the Group's un-audited results for the year ended 31 December 2008:
"We anticipate reporting a significantly improved result for the year ended 31 December 2008 compared to that seen in 2007. The Group reported an interim profit after tax of £0.3m for the six months ended 30 June 2008 and we are pleased to say that the Group remained profitable in the second half of the year. We expect to report revenue for the year of approximately £18.8m. The Group was cash generative in the second half year and we expect to report net debt of approximately £2.3m at 31 December 2008, reduced from £2.8m at the end of June 2008."
For further information:
|
Petards Group plc |
www.petards.com |
|
Bill Conn, Chief Executive Andy Wonnacott, Finance Director |
Tel: 0191 420 3000 |
|
Collins Stewart Europe Limited |
|
|
Mark Connelly, Stewart Wallace |
Tel: 020 7523 8350 |
|
Parkgreen Communications Limited |
Tel: 020 7933 8787 |
|
Paul McManus |
Mob: 07980 541 893 |
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Petards