Business
Final results for the year ended 31 December 2024
Final results for the year ended 31 December 2024.
About this update from Petards Group Plc
[{"type":"text","content":"\n\n23 June 2025\nPetards Group plc\n (\"Petards\", \"the Group\" or \"the Company\")\nFinal results for the year ended 31 December 2024\n \nPetards Group plc (AIM: PEG), the AIM quoted developer of advanced security, communication and surveillance systems, is pleased to report its audited final results for the year ended 31 December 2024.\nKey Highlights:\n· Operational\no Completed £2.85 million acquisition of Affini Technology on 13 June 2024, a UK-based systems integrator specialising in critical communications and wireless technologies\n§ £2.52 million in cash and £0.33 million in Petards consideration shares\n§ Strengthened Group, by diversifying earnings and expanding blue chip customer base\n§ Annual recurring revenues typically represent circa 50% of total annual revenues\no Continued growth of Traffic ANPR related revenues supported by sales of the new QRO Harrier AI camera system, and strengthened our sales team to target overseas markets\no Petards' eyeTrain and Defence markets remained challenging with orders delayed\no Group revenues from service and engineering support, spares, repairs and managed services exceed 50% of total revenue\no Order book at 31 December 2024: £7.1 million (31 Dec 2023: £2.4 million)\n§ over 80% of which is for delivery in 2025\n§ 2025 will also benefit from a full year's revenue from Affini (2024: 6½ months)\no New products developed included the QRO Harrier Mini ANPR camera system for mobile and fixed roadside applications, launched in early 2025 for which initial orders have been received\n \n· Financial\no Total revenues £12.0 million (2023: £9.4 million)\no Gross profit margin 45.3% (2023: 50.5%)\n§ Margins excluding Affini, were similar year-on-year\n§ Affini's integrator model attracts good margins, but lower than Petards' existing OEM solutions\no Adjusted EBITDA¹ £410,000 (2023: £340,000)\no Operating loss before exceptional items £774,000 (2023: £529,000 loss)\no Incurred exceptional acquisition and reorganisation costs of £491,000 (2023: £656,000)\no Loss after tax £1,127,000 (2023: £1,050,000 loss)\no Basic and diluted loss per share 1.91p (2023: basic and diluted loss per share 1.86p)\no Net cash inflow from operating activities pre-excepti...