Petards

Preliminary results announcement for the year ended 31 December 2006 released

28 June 2007

Petards Group plc ('Petards'), the AIM quoted developer of advanced surveillance systems, announces preliminary results for the year ended 31 December 2006.|

In his statement to shareholders, Tim Wightman, non-executive Chairman, said:

"During 2006 Petards financial recovery continued and the year ended on a strong note with operating profits and cash flows showing improvements over the prior year.

Following a strong performance in the second half year, Petards made an operating profit before exceptional items of £0.6m (2005: £0.02m) on turnover of £23.2m (2005: £21.8m) for the year ended 31 December 2006. Operating profit after exceptional items was £0.1m."

Highlights

  • Turnover up 6% to £23.2m (2005: £21.8m)
  • Gross profit of £8.4m up 19% (2005: £7.0m)
  • Operating profit before exceptional items of £576,000 (2005: £23,000)
  • Operating profit after exceptional items of £94,000 (2005: £23,000)
  • Loss before tax reduced to £293,000 (2005: £482,000 loss)
  • Operating cash inflow £1.0m (2005: £0.7m outflow)
  • Further progress in US market; turnover up 48% to £2.0m.
  • Benefits of sales synergies between group companies now being realised; £3m order received in January 2007 from BAE Systems for software and hardware.
  • Acquired EIMC, specialist supplier of camera technologies, in March 2006

 Download RNS Announcement

Download the 2006 Reports and Accounts Download the 2006 Reports and Accounts

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