London Security PLC - West Yorkshire, England-based fire protection products - Posts an increase of 7.1% in revenue to £88.6 million for the six months to June 30, from £82.7 million a year earlier. Pretax profit, however, dips by 7.1% to £10.8 million from £12.2 million.
Operating profit declines by 11% to £1.4 million to £10.9 million a year ago, as administrative expenses rise by 9.1% to £20.4 million during the period from £18.7 million a year ago. Cash amounts to £35.3 million at June 30, compared to £35.7 million at December 31.
London Security says: ‘The period under review reflects the impact from upward input price pressures in all of the countries in which we operate. These increases are being driven by worldwide supply chain disruption, energy and wage inflation following the war in Ukraine and the recovery from the coronavirus pandemic.’
Current stock price: 2,730.00 pence, down 13%
12-month change: up 14%
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