04
December 2024
Croma Security Solutions
Group Plc
("CSSG", "Croma", "the "Company" or the "Group")
AGM
Statement
Croma Security Solutions Group plc
(AIM:CSSG) is holding its Annual General Meeting ("AGM") today at
09.00am.
Successful Year to 30 June 2024 Completed
We were pleased to be able to report
a successful performance for the Group, with revenue up 8.9% to
£8.74 million, and EBITDA on continuing operations up 13% to £1.06
million. This completed the first year of operating under a new
strategy, to refocus on our core businesses - Croma Locksmiths and
Croma Fire & Security - and to expand
our security centres into a national network through new store
acquisitions. To support our growth ambitions, the business has
grown successfully on a like for like basis by 6.3% and has a
strong balance sheet with no debt and cash of £4.1 million as at 30
November 2024 with a further £2.9 million due from the disposal of
Vigilant.
Subject to approval by shareholders
at today's AGM, a final dividend of 2.3 pence per share will be
paid on 18 December 2024 to all shareholders on the register at the
close of business on 6 December 2024. The shares will be marked
ex-dividend on 5 December 2024.
Martyn's Law
The UK government is preparing to
introduce Martyn's Law (Terrorism Protection of Premises Bill) to
Parliament, initiating new levels of safety in relevant public
premises and events venues so they are better protected from
intrusion or terrorist attacks. The Bill is known as Martyn's Law
in honour of Martyn Hett, who died tragically in the Manchester
Arena attack in May 2017. For Croma, as one of the UK's leading
security systems advisors, the new legislation is driving a high
level of new enquiries from owners of premises and venues seeking
expert support to comply with the expected safety
protocols.
Current Trading on Track
From the outset of the current
financial year, trading has been positive and in line with market
expectations with good levels of organic growth across our core
markets in the education, utilities, health and leisure sectors.
Customers are seeking both traditional security services and more
complex, integrated solutions reflecting a general demand for
greater security in today's risk-conscious environment. In
addition, the main driver of growth will continue to be through the
expansion of the security centre network. The Company has a good
pipeline of opportunities to acquire profitable locksmith stores
some of which are close to completion. These stores will be
transformed into modern security centres, boosting the Group's
revenue and customer base, and adding to the overall network of
centres.
For
further information visit www.cssgplc.com or
contact:
Croma Security Solutions Group Plc
Tel: +44 (0)1489 566 166
Roberto Fiorentino, CEO
Teo Andreeva, CFO
Zeus
Tel: +44 (0)203 829 5000
(Nominated Adviser and
Broker)
Mike Coe
Sarah Mather
Novella
Tel: +44 (0)203 151 7008
Tim Robertson
Claire de Groot
Safia Colebrook
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