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5 Feb 2018 07:00
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.
5 February 2018
CROMA SECURITY SOLUTIONS GROUP PLC
("CSSG" or the "Group")
Trading Update HY17
Croma Security Solutions Group Plc is pleased to announce that trading for the six months to 31 December 2017 has been exceptionally strong and as a consequence the Company's results will be materially ahead of H1 2016.
The Company's two principal divisions Croma Vigilant and Croma Systems have both been successful in securing new and retaining existing business. Croma Vigilant, which provides ex-military security professionals to both the private and public sector, has benefitted from a significant increase in demand for its premium services. A significant proportion of the increased demand has come from shorter term projects, and one of these projects has resulted in the Company winning a valuable five year contract for the provision of security services, as announced in December 2017.
Croma Systems, provider of a range of innovative security technology services including CCTV, Intruder Alarms, FastVein (Biometrics) and high security locks, has benefitted from a general uplift in demand across its business activities.
As a result, the Company expects to report for the six months to 31 December 2017EBITDA in excess of £1.1 million (2016: £0.44 million).
The Company looks forward to providing more detail on this positive trading performance in February 2018 with the announcement of its half-year results.
Sebastian Morley Chairman of CSSG said:
"By delivering a strong first half performance together with winning the Group's largest contract to date, announced at the end of December 2017, we are well placed to make record profits for the year. Looking further ahead, we believe security will continue to be an increasing priority for government and the commercial world and that Croma's combination of technically innovative security solutions delivered with an ex-military ethos differentiates us and makes us well placed to continue to gain market share."
Listen to Chairman Sebastian Morley talk to BRR Media about this trading statement:
http://webcasting.brrmedia.co.uk/broadcast/5a74828f040597062328b87e
For further information contact:
Croma Security Solutions Group plc Sebastian Morley, Chairman
| Tel: +44 (0)7768 006 909 |
WH Ireland Limited (NOMAD and Broker) Mike Coe / Jessica Cave
| Tel: +44 (0)207 220 1666 |
Novella Communications Tim Robertson / Toby Andrews | Tel: +44 (0)203 151 7008 |
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