26 February 2019 – final results

The advanced surveillance technology and security systems group has announced its final results for the year ending on 30 November and these have revealed a slight increase in revenues to £71.2m (2017: £70.1m) although adjusted pre-tax profits fell to £2.1m (2017: £2.5m).  Underlying earnings per share fell to 12.6p (2017: 15.2p) with the total dividend for the year being raised to 4.7p (2017: 4.0p).  Although the UK bus market was weak, there was a strong performance in the gaming sector notably in the US and Asia.. The group held net cash at the year end of £8.1m (2017: £3.8m) although this was somewhat flattered due to favourable working capital flows around the year end.  The group continues to invest in its technology and has also recruited a number of senior managers to help its future development which should help to take the group to new levels in the coming years.  The shares remain a BUY.