Croma Security Solutions Group PLC (LON:CSSG) reported strong growth in annual profit following an uplift in demand for its security services after a spate of terrorist attacks in the UK.
The security firm on Monday said profits (EBITDA) for the year to the end of June more than trebled to £2.5mln on revenues 59% higher at £35.1mln.
READ: Croma Security Solutions expects record profits as demand rises after terrorist attacks
The company, which won a number of new contracts during the year in its Croma Vigilant and Croma Systems divisions, said it had seen strong demand from private enterprises and government bodies amid heightening terrorism threats and concerns about public safety.
Croma Vigilant supplies security personnel and Croma Systems provides security technology such as CCTV, alarms, biometrics and locks.
The AIM-listed group said it had achieved a substantial increase in earnings per share to 9.89p from 2.13p a year ago and that it had trebled the total dividend to 1.6p in the last year.
The company, which employs many ex-military personnel, said it had made a good to start to its new financial year with an increase in contracted revenues and that it aimed to maintain its progressive dividend policy for 2018/19.
"This has been an exceptional year for our business,” Croma chairman Sebastian Morley said in a statement.
“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 which is reflected in the board's confidence in recommending a final dividend of 1p per share, bringing the total for the year to 1.6p per share.”
Shares in the company were 1.1% up at 102.62p in early trade.