18 August 2014 – interim results
The CCTV and monitoring systems group has reported its interim results for the six months to 30 June and these have come in slightly ahead of management expectations. Revenue was down to £5.5m (2013: £5.8m) and underlying pre-tax profits declined to £0.2m (2013: £0.5m). Net cash balances at the end of the period had risen to £2.6m (2013: £2.2m). These were solid results in the circumstances and the directors have once again demonstrated their confidence in the future of the group, with the CEO and FD buying over 512,000 shares between them at a price of 6.125p. The second half should see a recovery in the fortunes of the group and we continue to rate the shares as a BUY.