TIDMCSSG

RNS Number : 6223Z

Croma Security Solutions Group PLC

04 September 2018

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulations No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

4 September 2018

CROMA SECURITY SOLUTIONS GROUP PLC

("CSSG" or the "Group")

FY18 Trading Update

Croma Security Solutions Group Plc is pleased to announce that the financial year to 30 June 2018 has been a successful trading period generating record profits ahead of the previous financial year.

Increased demand across the UK for premium security services from both the public and private sector, driven by concerns over public safety, government outsourcing and heightened terrorism threats, has benefitted the Group. These factors have supported the Group's two principal divisions Croma Vigilant and Croma Systems in securing a series of new contracts.

Croma Vigilant, which employs over 1,200 security professionals, to guard assets and individuals, has experienced a significant increase in demand, as clients recognise the importance of protecting their assets and choose Croma Vigilant, a premium service involving mostly ex-military individuals who collectively bring an ethos and training that is difficult to surpass.

Croma Systems, provider of a range of innovative security technology services including CCTV, Intruder Alarms, FastVein (Biometrics) and high security locks, has also benefitted from a general uplift in demand across its business activities.

As a result, the Company expects to report for the 12 months to 30 June 2018

EBITDA not less than GBP2.4 million (2017: GBP0.8 million).

The Company looks forward to providing more detail on this positive trading performance in October 2018 with the announcement of its full-year results.

Sebastian Morley Chairman of CSSG said:

"CSSG offer a premium security service, the appeal of which has increased as customers recognise that to ensure their security, they require expertise and experience. Our Group has both qualities which when also combined with our range of security technology services makes for a compelling offer. While the Group has benefited from a significant proportion of one off contracts there has also been a rise in long-term contracted revenues which points to a step change in the ongoing profitability of the business."

For further information contact:

 
Croma Security Solutions Group plc     Tel: +44 (0)7768 006 909 
 Sebastian Morley, Chairman 
WH Ireland Limited (NOMAD and Broker)  Tel: +44 (0)207 220 1666 
 Mike Coe / Jessica Cave 
Novella Communications                 Tel: +44 (0)203 151 7008 
 Tim Robertson / Toby Andrews

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTBSGDCCSGBGIX

(END) Dow Jones Newswires

September 04, 2018 02:00 ET (06:00 GMT)

Croma Security Solutions (LSE:CSSG)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Croma Security Solutions Charts.
Croma Security Solutions (LSE:CSSG)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Croma Security Solutions Charts.