Croma Security Solutions Group PLC on Monday said it expects ‘a run of acquisitions’ over the next few months, as it posted full-year profit and revenue gains.
The Whiteley, England-based security services provider reported £825,000 in pretax profit for the financial year that ended June 30, up 3.5% from £797,000 a year earlier.
Revenue advanced 10% to £9.6 million from £8.7 million, with the company crediting the improved sales to acquisitions made throughout the financial year, as well as organic growth in the core business of 5%.
Administrative expenses were up 7.3% at £3.6 million from £3.4 million, and financial expenses inched higher to £32,000 from £27,000.
Supporting the bottom line, financial income improved, rising to £261,000 from £217,000.
The company proposed a final, and therefore full-year dividend of 2.4 pence per share, up 4.3% from 2.3p.
Shares in the company rose 5.6% to 85.00 pence on Monday morning in London.
Croma noted that trading in the financial year is on track, with new stores ‘performing well’. It noted that its potential acquisitions pipeline has grown ‘significantly’, with it well positioned to meet its target of 3-5 store acquisitions per year.
‘I am pleased to report another successful year of growth for the Croma Group. Our strategy of acquiring family-owned locksmith businesses and integrating them into our network of security centres continues to drive profitability and increase our scale,’ said Chief Executive Roberto Fiorentino.
‘We have made, and will continue to make, significant investments in expanding our management team, positioning the company to accelerate the pace of acquisitions and capitalise on the imminent pipeline of opportunities. The next few months should see a run of acquisitions, which together with continued organic growth will deliver a step-up in turnover.’
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