Croma Security profits soar as fears for public safety rise

22nd Oct 2018 12:55

(Sharecast News) - Croma Security profits soared throughout its last trading year on the back of increased demand for the likes of CCTV systems, alarms, biometrics and locks.The AIM-listed security firm announced on Monday that its EBITDA had more than trebled to £2.5m over the year ending 30 June as a result of 59% boost to revenues at £35.1m.Croma, which chalked up several new contracts wins during the year, revealed strong demand from private enterprises and government bodies coming after an increased level of terrorist threats and general concerns about public safety had given the company the boost it needed.While earnings per share to rocketed to 9.89p from the 2.13p seen a year earlier, Croma trebled its total dividend to 1.6p for the year.Chairman Sebastian Morley, said: "This has been an exceptional year for our business. Demand has increased on the back of real and perceived security concerns and critically for Croma we are benefitting from this but also increasing our market share.""Our financial results have been helped in this year by some large one-off projects, even so, our ongoing trading performance backed by an increase in the number of long-term contracts is more than double two years ago."As of 1220 BST, Croma shares had lost 4.43% to 97p.