OpSec Security: management confident
The supplier of anti-counterfeiting technologies and services recently announced interim results for the six months ended 30th September 2009. Plenty of cash on the balance sheet to reassure!
Group revenue was down by 14% due to general economic conditions and prior year loss of significant tax stamp contract. Adjusted Operating Profit was reduced to £645,000 from £1,158,000 as the impact of lower revenue was partially offset by significant cost saving programmes. The result after taxation was a loss of £358,000 (2008: profit of £217,000).
Cash on the balance sheet as at 30th September 2009 amounted to £2,716,000 (2008: £2,771,000) so plenty to reassure.
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