Business
Final Results for the Year Ended 31 December 2021
Final Results for the Year Ended 31 December 2021.
About this update from London Security Plc
[{"type":"text","content":"\n \n \n London Security plc\n \n \n \n \n \n Final Results for the Year Ended 31 December 2021\n \n \n \n \n \n Chairman's statement\n \n \n J.G. Murray, Chairman\n \n \n \n \n \n Financial Highlights\n \n \n Financial highlights of the audited results for the year ended 31 December 2021 compared with the year ended 31 December 2020 are as follows:\n \n \n • revenue of £166.6 million (2020: 152.7 million);\n \n \n • operating profit of £27.2 million (2020: £24.7 million);\n \n \n • profit for the year of £20.0 million (2020: £18.0 million);\n \n \n • cash of £35.7 million (2020: 37.5 million);\n \n \n • earnings per share for the year of 1.62 (2020: £1.46); and\n \n \n • a dividend per share of £0.80 (2020: £0.60).\n \n \n Trading review\n \n \n The financial highlights illustrate that the Group's revenue increased by £13.9 million (9.1%) to £166.6 million and operating profit increased by £2.5 million (10.1%) to 27.2 million. These results reflect:\n \n \n • a good response to the impact of Covid-19. Many of our businesses were severely hampered by Covid-19 throughout 2020, but the easing of restrictions in 2021 allowed our business to capitalise on the rebound in the economies in which we operate;\n \n \n • the positive impact of acquisitions in 2021 in the United Kingdom, Denmark, Belgium, France and Germany;\n \n \n • improved performance from our service business in continental Europe;\n \n \n • continued improvement from newer service offerings (e.g. emergency lights and passive fire protection); and\n \n \n • the movement in the Euro to Sterling average exchange rate, which had an adverse effect of £3.4 million on reported revenue and £0.7 million on operating profit. A more detailed review of this year's performance is given in the Financial Review and the Strategic Report.\n \n \n Acquisitions\n \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 acquired established security businesses and grew its presence in Denmark, the UK, Belgium, the Netherlands, Germany and France with the acquisition of service contracts from smaller well-established businesses for integration in...