Croma Security FY results tracking ahead of prior year, dividend to be raised

Security services provider Croma Security Solutions said on Monday that it was now "clear" that it would "achieve results ahead of the previous year", adding that its final dividend was "expected to reflect this".

Croma stated that since the beginning of its financial year, both of its divisions had traded "robustly" and noted that where Covid-19 had "restrained the business", this has been more than offset by strong performances from other parts of the firm.

As a result, Croma now anticipates reporting a better result than management had expected for the full year, with underlying earnings pegged to be at least £1.85m.

Croma Systems, which includes its locksmith stores, was expected to deliver increased sales and profits against the prior year, while Croma Vigilant, its largest division, was also projected to have performed well against prior year comparatives.

Chairman Sebastian Morley said: "Our teams adapted quickly and efficiently to implementing Covid-19 security safe protocols across the hundreds of buildings we protect 365 days a year. This adaptability has been key to maintaining and winning new accounts and our trading performance reflects this.

"Consequently, we are confident in our ability to continue to navigate through the current trading restrictions and at the same time continue to grow our business."

As of 1035 BST, Croma shares had shot up 18.43% to 79.94p.