Losses at Digital Barriers above forecasts

Surveillance technologies firm Digital Barriers said that full-year revenues will be in line with market expectations as it announced a number of new contract awards.

Surveillance technologies firm Digital Barriers said that full-year revenues will be in line with market expectations as it announced a number of new contract awards.

The AIM-listed company, which serves the international home security and defence markets, said that it has been awarded a £2.0m contract by an existing UK-based customer for the provision of an integrated technology solution that includes its TVI video products, ThruVision passive screeningproductsand OmniPerception facial recognition products.

Meanwhile, Singapore's SingTel has selected the company's TVI technology as the delivery platform for its new Video Surveillance-as-a-Service offering.

However, in a pre-close trading update for the year to March 31st, Digital Barriers said that operating losses will be slightly above the £6.8m forecast as margins have fallen and higher investment.

The firm said that it has seen some delays to sales closures in the US due to federal budget uncertainty and sequestration, which have resulted in a different mix of revenues across the group and therefore lower margins.

Meanwhile, the company said that a growing global sales pipeline has meant a higher investment in demonstration stock and this, along with one-off write downs on fixed assets within acquired businesses, has increased depreciation.

The company said: "With Digital Barriers' unique technology solutions delivering strong, international sales momentum the outlook for the group remains positive. The board remains comfortable with current market expectations for the financial year ending March 2014 thanks to this ongoing strong sales momentum."

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

The bitcoin bubble will burst: here’s how to play it
Bitcoin

The bitcoin bubble will burst: here’s how to play it

The cryptocurrency’s price has soared far beyond its fundamentals, says Matthew Partridge. Here, he looks at how to short bitcoin.
12 Apr 2021
What does the Coinbase listing mean for bitcoin and other cryptocurrencies?
Bitcoin

What does the Coinbase listing mean for bitcoin and other cryptocurrencies?

As the bitcoin price hit new highs, the world's biggest cryptocurrency exchange, Coinbase, listed on the stockmarket. John Stepek looks at what that m…
15 Apr 2021
Properties for sale for around £400,000
Houses for sale

Properties for sale for around £400,000

From a converted church in Banffshire with views towards the Cairngorms National Park, to a period property in the Georgian market town of Beverley, e…
2 Apr 2021