Croma Security's revenues soar on contract wins

Croma Security Solutions Group recorded a 57 per cent rise in revenues for the last half of 2012 as demand for the firm's services rose.

The security provider's revenues increased to £6.78m, compared to £4.42 year earlier, after the firm won significant orders from Odeon Cinemas, Walsall NHS Trust, UK Land and a major Hampshire business park.

Gross profits rose to £1.75m from £0.82m, while gross margin increased from 18.9% to 25.8% due to contributions from integrated systems subsidiaries Croma Security and Croma Locksmith.

Earnings before interest, tax, depreciation and amortisation jump to £0.28m from £0.14m.

The net cash position at the period end was £0.16m while net assets were at £8.47m.

The company said it will focus on driving organic growth and cross selling within the group in order to strengthen its and gross profit in the next half.

Croma's core services include ex-military manned guarding, CCTV, intruder systems, fire systems, biometric identification and access control.

Shares rose 13.65% to 33.50p at 09:03 Friday.

RD