1 June 2012 – annual results
The security and surveillance systems developer has announced excellent results for 2011, with revenues up by 6% to £12.1m (2010: £11.4m) with pre-tax profits quadrupling to £215k (2010: £53k). Earnings per share declined to 4.9p (2010: 5.7p) with the previous year’s figure benefiting from a large tax credit. Net debt has fallen to £1.5m (2010: £2.0m). Although the slowdown in government spending and the strength of sterling are negatives, medium term prospects remain sound. The shares remain GOOD VALUE.