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Petards makes adjusted EDITBA profit in 2020 despite Covid-19 impact
StockMarketWire.com
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Petards Group, the AIM quoted developer of advanced security and surveillance systems, made a profit in 2020 as 'solid progress' was made in most areas despite the impact of Covid-19.
While total revenues were down from £13.0 million in 2020 from £15.7 million in 2019, its gross profit margin was 36.4% up from 30.8% in 2019.
It made an adjusted EBITDA profit of £320,000 from a £281,000 loss in 2019.
Its operating loss was £1,145,000 (2019: £1,287,000 loss) while loss after tax was £583,000 (2019: £193,000 loss)
The company's full-year results said accelerated restructuring resulting in a significant reduction in the on-going cost base, while its QRO business had record trading performance which has continued into 2021.
At 8:06am: (LON:PEG) Petards Group PLC share price was 0p at 8.5p
Story provided by StockMarketWire.com
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