2 April 2015 – final results
The specialist provider of CCTV and monitoring systems has announced much improved results for the year to 31 December 2014 although it has remained loss-making. The group has reported an underlying loss before tax of £0.1m (2013: loss of £0.2m) although the group’s revenue fell to £9.0m (2013: £10.8m). The group has been significantly restructured during the year with a reduction in the cost base being reflected in the results and the group ended the year with net cash of £2.7m (2013: £1.3m). The group has enjoyed success in the last quarter of the year in renewing framework agreements with Arriva Bus UK, Arriva Bus AB Sweden and Keolis Sweden. The group is currently very dependent on a small number of large customers and this year it will try to expand its customer base by expanding its product offering. This could help the company significantly and we continue to rate the shares as a BUY.