13 September 2012 – interim results
Interim results from Petards have revealed slightly lower revenues of £4.7m (2011: £5.2m) although pre-tax profits emerged slightly higher at £22,000 (2011: £5,000). Earnings per share increased to 0.35p (2011: 0.08p). Net debt has been reduced to £0.8m (31 December 2011: £1.5m). However, delays to some contracts are likely to lead to lower revenues than originally expected in the second half. Long term prospects remain promising though and for investors who are prepared to take a longer term view the shares are a LONG TERM BUY.