Petards talk trading ahead of 2015 HY results

Hoist by their own?

Petards, the AIM quoted developer of advanced security and surveillance systems, has provided an update on trading following the end of its financial half year on 30 June 2015.

The Group has continued to trade profitably in line with the Board’s expectations for the six months ended 30 June 2015. Margins for the first half of the year will be significantly higher than those for the corresponding period in 2014 on lower revenues, reflecting the changed product mix which last year included a substantial amount of lower margin hardware deliveries to the MOD in respect of the RAF’s SMRE project.

Petards’ interim results for the six months ended 30 June 2015 will be announced on 8 September 2015.

Raschid Abdullah, Chairman of Petards Group plc said: “Trading for the first half year provides support for the Board’s strategy of developing Petards’ profitability and cash generation from a solid base. In line with current contracted customer delivery schedules, revenues for 2015 as a whole are anticipated to be weighted towards the second half year. While it is too early in the second half of the year to predict with accuracy the result for the year, the strength of the contracted customer delivery schedules gives the Board confidence for a satisfactory outcome.”

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