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.

Advertisement - Article continues below

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."



Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

UK Economy

What bounce back loans can tell us about how we’ll pay for all this

The government will guarantee emergency "bounce back loans" for small businesses hit by Covid-19. Inevitably, many businesses will default. And there'…
1 Jun 2020

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020

These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020