7 March 2019 – final results
The video security system group has released its results for the year to 31 December which have revealed a 9% increase in revenue to $46.0m (2017: $42.1m) and a reduced loss before tax of $0.64m (2017: adjusted loss of $2.4m). Although the group is still loss-making, it has made considerable progress since the change of leadership in 2017, with a reduced loss last year, whilst the introduction of new products and a strengthened sales team bode well for the future. The group ended the year with net cash of $2.0m (2017: $2.6m) although yet again there is no dividend. The group’s recovery is set to continue in 2019 as it moves back towards profitability and we retain our recommendation of SPECULATIVE BUY.