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London Security PLC - West Yorkshire, England-based fire protection products - Posts higher profit in 2021 as acquisitions have positive effect. Pretax profit rises 9.8% to £27.0 million from £24.6 million in 2020. Revenue rises 9.1% to £166.6 million from £152.7 million. Pays a dividend of 80 pence per share, up 33% from 60p for 2020. Says the euro to pound average exchange rate had an adverse effect of £3.4 million on reported revenue and £700,000 on operating profit.
Firm cites ‘a good response to the impact of Covid-19. Many of our businesses were severely hampered by Covid-19 throughout 2020, but the easing of restrictions in 2021 allowed our business to capitalise on the rebound in the economies in which we operate,’ it explains. Notes positive impact of acquisitions in 2021 in the UK, Denmark, Belgium, France & Germany. Firm reiterates aim to grow through acquisitions. Meanwhile, says performance in newer service offerings and service business in continental Europe improved.
Current stock price: 3,620.00 pence, untraded on Wednesday
12-month change: up 54%
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