Red24 secures bigger profits

published 15 June 2012

Security firm Red24 reported its fourth year of double digit profits and boosted its dividend by a third.

Full year revenue increased by 10.6% to £5.8m, while pre-tax profits came in up 16% at £863,093.

Earnings per share were up to 1.53p and the firm rewarded shareholders with a dividend increase of 33% to 0.32p per share.

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"Our special risk business for insurers has performed strongly and our growing reputation in this area has enabled us to develop additional services in the confidence that there is a ready market for them," said Chairman Simon Richards.

"Our focus on the quality of business has led to the growth in both the levels of business and in our financial performance and is reflected in the increasing strength of our balance sheet," he added.

The company suggested it was on the look out for acquisitions instead of it traditional policy of recruiting appropriate specialists in the desired fields as and when needed.