Croma Security Solutions Group PLC (LON:CSSG), the security services provider, saw its shares rise after it played down the effects of the coronavirus pandemic.
The shares were up 11% at 78p after the company said the effect of the pandemic on the group’s business had been light, with only the retail elements of the business feeling the effect.
As a result, the board expects the company to generate underlying earnings (EBITDA) for the 12 months ending June 30 June to be at least £1.6mln “and there is a reasonable expectation that the actual outcome will be higher”.
The company noted it has no borrowings and went into the crisis with net cash of more than £2.4mln.
"I am delighted with the company's operational response and subsequent trading performance during this period of crisis for the country,” said Sebastian Morely, the chairman of CSSG.
“We expect to complete this financial year in a good position and to be able to step up activity in the coming year taking advantage of demand for our new front of house concept PROception and any weaknesses in the market as a result of COVID-19." he added.