Croma Security Solutions trades 'well' in FY24, results seen in line with expectations

Security firm Croma Security Solutions said on Monday that it had "traded well" in the twelve months ended 30 June and stated its FY24 results would be in line with market expectations.

Croma said it was continuing to develop its security centre network, adding new commercial clients and expanding the security solutions it provides, with its strategy remaining focused on driving its core businesses as well as acquiring traditional locksmith stores and transforming them into modern security centres.

The AIM-listed group boasted a "strong balance sheet" and said there was a "good pipeline" of store acquisition opportunities to support its ambitions of rolling out its security centre network nationwide.

Chief executive Roberto Fiorentino said: "We are pleased to have completed a successful year in what has been a challenging market environment. Looking ahead, we have a clear strategy together with the financial resources and management expertise to execute it. As a management team, we are therefore very focused on expanding our store presence and benefitting from the resulting growing economies of scale."

As of 1145 BST, Croma shares were up 276% at 74.50p.

Reporting by Iain Gilbert at Sharecast.com