Business
Final Results for the Year Ended 31 December 2018
Final Results for the Year Ended 31 December 2018.
About this update from London Security Plc
[{"type":"text","content":"\n \nRNS Number : 5069Y London Security PLC 09 May 2019 \n\nLondon Security plc\n \nFinal Results for the Year Ended 31 December 2018\n \nChairman's statement\nJ.G. Murray, Chairman\n \nFinancial highlights\nFinancial highlights of the audited results for the year ended 31 December 2018 compared with the year ended 31 December 2017 are as follows:\n• revenue of £137.7 million (2017: £125.9 million);\n• EBITDA of £29.6 million (2017: £27.9 million);\n• operating profit of £23.2 million (2017: £21.7 million);\n• profit for the year of £16.2 million (2017: £14.3 million); and\n• a dividend per share of £0.80 (2017: £0.80).\nTrading review\nThe financial highlights illustrate that the Group's revenue increased by £11.8 million (9.4%) to £137.7 million and operating profit increased by £1.5 million (6.9%) to £23.2 million. These results reflect:\n· the positive impact of acquisitions in 2017 and 2018 in the United Kingdom, Austria and Denmark;\n· improved performance from our service business in continental Europe;\n· continued improvement from newer service offerings (e.g. emergency lights and passive fire protection); and\n· the movement in the Euro to Sterling average exchange rate, which had a favourable effect of £1.0 million on reported revenue and £0.2 million on operating profit.\n \nAcquisitions\nIt remains a principal aim of the Group to grow through acquisition. Acquisitions are being sought throughout Europe and the Group will invest at prices where an adequate return is envisaged by the Board. In the year under review the Group has acquired four established fire protection businesses and strengthened its position in the passive fire protection market with the acquisition of Amberfire Limited. The Group has grown its presence in the Netherlands, Belgium, Austria and the UK with the acquisition of service contracts from smaller well-established businesses for integration into the Group's existing subsidiaries. In addition, with the acquisition of Linde Brandmateriel Aps the Group has expanded its business into Denmark.\nManagement and staff\n2018 was a year in w...