Petards

Interim Results 2007

28 September 2007

Petards Group plc ('Petards'), the AIM quoted developer of advanced surveillance systems, announces interim results for the six months to 30 June 2007, which mark a return to operational profitability for the Group. These results have been restated under International Financial Reporting Standards (IFRS).|

Financial Highlights

  • Turnover of £10.3m (2006: £10.4m)
  • Gross profit of £4.2m (2006: £3.6m)
  • Operating profit of £31,000 (2006: £778,000 loss)
  • Loss before tax of £131,000 (2006: £926,000 loss)
  • Loss per share of 0.02p (2006: 0.15p loss)
  • Margins increased to 40% (2006: 35%)
  • Cash generation from operations of £103,000 (2006: £345,000)
  • Cash outflow, after interest, investing and financing activities of £204,000 (2006: £670,000)

Other Highlights

  • £2m contract to supply and install eyeTrain digital CCTV systems for Bombardier on 286 UK trains
  • Significant interest in new products: Forward facing train cameras and Automatic Passenger Counting
  • UVMS video recording orders won for 8 DLR stations and new Eurostar terminus at St Pancras Station
  • Electronics defence business still affected by diversion of defence spending orders in Sept of c. £1m.
  • US sales up to £0.9m (2006: £0.3m)
  • UVMS installed with Casino customers and prospects of further customer expansion programmes

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