SEPU.L Share News (SEPU)

TETRA digital radio provider Sepura posted an 11% drop in annual revenue following delays in shipments however it remains confident about its long-term growth prospects.Operating profit for the year ended 1 April 2011 slumped to £3.8m from £9.5m the same time a year earlier. Revenue for the year fell to £70.5m from £78.9m earlier.Sepura said its position has been strengthened against a challenging market backdrop.CEO Gordon Watling commented, "Certain TETRA markets have been subject to macro-driven delays which have impacted our own radio shipments over the last year. Against this challenging backdrop the company has grown its market share and continued to broaden its business outside its traditional TETRA markets, both geographically and by end-user segment.""We remain confident about our long term organic growth prospects, with clear and attractive opportunities opening for the company, including North America, Latin America and the global commercial sector, where we expect our new ATEX products to deliver significant incremental revenues over time."Gross margin for the year strengthened to 46.5%, with a second half margin of 48.3%. Adjusted diluted EPS was down 35% to 3.3p.Net cash increased £4.9m to £6.7m and a dividend of 1.36p has been offered, up 7%.CJ