Business
Final Results for the Year Ended 31 December 2019
Final Results for the Year Ended 31 December 2019.
About this update from London Security Plc
[{"type":"text","content":"\n \n \n RNS Number : 7470N\n London Security PLC\n 22 May 2020\n \n \n \n London Security plc\n \n \n Final Results for the Year Ended 31 December 2019\n \n \n \n Chairman's statement\n J.G. Murray, Chairman\n \n Financial highlights\n Financial highlights of the audited results for the year ended 31 December 2019 compared with the year ended 31 December 2018 are as follows:\n • revenue of £146.9 million (2018: £137.7 million);\n • operating profit of £24.2 million (2018: £23.2 million);\n • profit for the year of £16.8 million (2018: £16.5 million*);\n • earnings per share for the year of £1.36 (2018: £1.34*); and\n • a dividend per share of £0.80 (2018: £0.80).\n \n * restated - see note 2\n \n \n Trading review\n The financial highlights illustrate that the Group's revenue increased by £9.2 million (6.7%) to £146.9 million and operating profit increased by £1.0 million (4.3%) to £24.2 million. These results reflect:\n \n · the positive impact of acquisitions in 2018 and 2019 in the United Kingdom, Austria, Belgium, the Netherlands and Denmark;\n \n · improved performance from our service business in continental Europe; and\n \n · continued improvement from newer service offerings (e.g. emergency lights and passive fire protection); offset by\n \n · the movement in the Euro to Sterling average exchange rate, which had an adverse effect of £1.0 million on reported revenue and £0.2 million on operating profit. A more detailed review of this year's performance is given in the Financial Review and the Strategic Report.\n Acquisitions\n \n It 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 eight established fire protection businesses and has grown its presence in the Netherlands, Belgium and the UK, with the acquisition of service contracts from smaller well-established businesses for integration into the Group's existing subsidiaries.\n \n Management and staff\n 2019 was a year in which the staff performed well and, on behalf of the shareholders, I would like to express thanks and appreciation for their contribution. The Group recognises that we can only achieve our aims with talented and dedicat...