Petards Group plc (AIM:PEG) – results offer more promise
The AIM quoted developer of advanced security and surveillance systems issued much improved audited results for the year ended 31 December 2014 and a return to profitability. The future looks more positive than we have seen for a while from this one.
Revenues more than doubled to £13.5m and there was an operating profit of £0.8m compared to the prior year’s loss of £1.3m. Operating cash flow was also an encouraging positive £0.8m. The Group serves three sectors, those of: • Transport (Rail - software driven video systems mounted in-train and externally and automatic passenger counting systems) • Defence (Electronic defensive countermeasures and mobile radio systems predominantly to the UK Ministry of Defence (“MOD”)) • Emergency Services (Mobile speed enforcement and ANPR systems predominantly to the Law Enforcement Agencies sold under the Provida brand). The £20m…