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Spectra Systems Corp - Rhode Island, US-based authentication technology provider - Posts revenue of $9.3 million for the six months to June 30, up 15% from $8.0 million a year earlier, derived from ‘pre-production development contracts as well as larger demand for our materials to meet increased banknote demands of one of our existing central bank customers,’ it explains. Pretax profit rises by 10% to $3.3 million from $3.0 million. Adjusted earnings before interest, tax, depreciation and amortisation amounted to $3.8 million, up 8.6% from $3.5 million.
Chief Executive Officer Nabil Lawandy says: ‘The company's first half revenue and earnings are up substantially from the six months ended June 30, 2021 and in line with the board's upward revised expectations for H1.’
Looking ahead, Spectra expects to achieve record earnings and meet market expectations for the full year.
Current stock price: 161.74 pence, up 1.7%
12-month change: down 4.3%
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