Croma Security Solutions Group PLC Trading Statement (2227D)
28 Junio 2021 - 1:00AM
UK Regulatory
TIDMCSSG
RNS Number : 2227D
Croma Security Solutions Group PLC
28 June 2021
28 June 2021
CROMA SECURITY SOLUTIONS GROUP PLC
("CSSG" or the "Company")
Pre- Close Trading Update
Croma Security Solutions Group Plc, the AIM listed total
security services provider, is pleased to announce the following
pre-close trading update for the 12 months to 30 June 2021.
Robust Trading
Since the beginning of our financial year, both divisions have
traded robustly and where Covid-19 has restrained the business,
this has been more than offset by strong performances from other
parts of the Group. As a consequence, the Board is anticipating
reporting a better result than management had expected for the
full-year with EBITDA of at least GBP1.85 million (2020: GBP1.75
million)
The restrictions placed upon the business due to Covid-19
particularly on the retail side of the business were in place for
the majority of the year whereas in the prior year they only took
effect for 4 months. Despite this, Croma Systems which includes our
locksmith stores is expected to deliver increases in sales and
profits against the prior year. Croma Vigilant, our largest
division is also expected to perform well against the prior year.
The division has benefitted from the increased need for manned
guarding services for empty premises and its PROception service
which integrates the provision of front of house services with
premium security services for individual buildings or larger
complexes.
Strong balance sheet
The Company has no borrowings (excluding lease liabilities) and
has maintained a strong balance sheet which has strengthened
further over the past 12 months. As at today's date, the Company
has net cash of GBP5.5 million. The cash position underpins the
Board's confidence in the business and its ability to take
advantage of any opportunities which may arise.
Dividend
At the half-year, the Board decided not to pay an interim
dividend as a precaution given the general market uncertainties and
instead wait until the year to pay to shareholders a final dividend
which reflects the strength of the full year performance once it
has been delivered. It is clear, the Company will achieve results
ahead of the previous year and the final dividend is expected to
reflect this.
Sebastian Morley Chairman of CSSG said:
"Our teams adapted quickly and efficiently to implementing
Covid-19 security safe protocols across the hundreds of buildings
we protect 365 days a year. This adaptability has been key to
maintaining and winning new accounts and our trading performance
reflects this. Consequently, we are confident in our ability to
continue to navigate through the current trading restrictions and
at the same time continue to grow our business."
For further information visit www.cssgroupplc.com or
contact:
Croma Security Solutions Group Plc Tel: +44 (0)7768 006 909
Sebastian Morley (Chairman)
WH Ireland Limited Tel: +44 (0)207 220 1666
(Nominated Adviser and Broker)
Mike Coe
Jessica Cave
Novella Tel: +44 (0)203 151 7008
Tim Robertson
Fergus Young
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END
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