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Security services provider Croma Security Solutions said it was placed for a 'satisfactory' year after reporting a decline in profit as a loss of project work in its guarding division weighed on revenue.
For the six months to 31 December 2019, pre-tax profit fell to £690K from £1.1m on-year as revenue slipped to £17.3m from about £18m.
'As expected with the loss of some project work, our guarding division saw a drop in revenue of 7%, however both our systems and locksmiths divisions produced increases in revenue of 11% leading to an overall decrease in revenues, the company said.
Looking to the second half of the year, the company said it was well placed for a satisfactory result, amid a healthy pipeline of acquisition opportunities to further extend the security centre network.
At 8:17am: (LON:CSSG) Croma Security Solutions Group share price was +1.5p at 93p