Croma profit and revenue tick up but outlook uncertain

Croma Security Solutions posted a rise in pre-tax profit and revenue for the year to the end of June, but sounded a cautious note over the prospects for the coming year.

The total security services provider reported pre-tax profit of £358,837, up from £304,584 on revenue of £15.83m, up 7% from last year.

Croma’s Vigilant business, which generates the bulk of its revenue, saw turnover grow by 14% to £12.5m, while operating profit rose to £0.57m from £0.42m.

However, the group’s Security Systems unit experienced difficult trading conditions, with turnover for the year down 16% to £2.15m as client budgets remained tight.

Croma’s Locksmiths arm, meanwhile, saw turnover drop 8% to £1.18m following a restructuring.

“The board views the coming year with optimism tinged with caution. There is no doubt that the economic recovery has not yet filtered all the way through to the corporate market, especially SMEs, and Croma Security Solutions will need to maintain its high energy sales drive to secure continued growth.”

At 1140 GMT, Croma shares were down 7.6% at 45.30p.