Business
Interim Results - Replacement
Interim Results - Replacement.
About this update from Petards Group Plc
[{"type":"text","content":"\n Petards Group PLC\n07 December 2005\n\n7 December 2005\n\nThe Petards Group PLC Interim Results released today are for the six months \nended 30 June 2005 and not as originally shown. \n\nAll other details remain unchanged.\n\n PETARDS GROUP PLC:\n\n INTERIM RESULTS\n\n\n\nPetards Group plc ('Petards'), the AIM quoted developer of advanced surveillance\nsystems, announces interim results for the six months ended 30 June 2005, a\nperiod in which the company made a small operating profit.\n\n\n\nFinancial Highlights\n\n\n\n • Revenue up 23% to £13.0m (2004: £10.3m)\n • Gross profit up 9% to £4.3m (2004: £3.9m)\n • Operating profit of £272,000 (2004: £1,340,000 loss)\n • Loss before tax of £68,000 (2004: £1,156,000 loss)\n • Loss per share of 0.01 pence (2004: 1.77 pence loss)\n • Significantly improved balance sheet and debt position\n • No dividend\n\n\n\nOther highlights\n\n\n\n • Turnover increase relates to defence orders won in 2004 including\n countermeasure systems for the MoD and the design and build of control\n systems of the Challenger 2 tank\n • £1.64m acquisition of PI Vision, a leader in scaleable networked digital\n video recording systems\n • £5.6m worth of orders for on-board CCTV systems for trains - majority of\n sales will fall in 2006\n • First sales of COFDM version of the Swift rapid deployment camera\n • First significant orders received for the new Provida product range\n\n\n\nCommenting on outlook, Tim Wightman, Chairman, said:\n\n\n\n'The markets in which the Group operates provide significant opportunities. The\nrecent terrorist events in London have further highlighted to government\nagencies at home and abroad the critical role that advanced security and\nsurveillance systems can play in tackling such threats. The Group has made good\nprogress over recent months. However, it is taking longer than we expected to\novercome the effect of its past difficulties within some of our markets.\n\n\n\n'I reported in May that the performance of the Group in the second half would\ndepend upon our ability to convert opportunities into orders and then deliver\nthem before the year end. In the event, while we have been successful in\nsecuring a number of orders and establishing our strong position in the markets\nwe serve, many are not deliverable before the year end. We therefore...