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Croma Security Solutions Group PLC on Monday said its profit during its most recent financial year nearly doubled, as ‘civil unrest’ over the summer has started to drive demand for financial 2025. Shares in the Whiteley, England-based security services provider were up 18% at 79.60 pence each in London on Monday morning. Pretax profit for its financial year that ended June 30 was £797,000, nearly doubling from £403,000 last year. Revenue grew 8.8% to £8.7 million from £8.0 million. Croma Security declared a final dividend of 2.3 pence per share, up 4.5% from 2.2p per share last year. It acquired two locksmith businesses in Peterborough and Worthing during the year, taking the total number of its security centres to 16. It now aims to complete between three and five acquisitions every year, with a return on investment target of at least 15%. Croma Security said financial 2025 trading has ‘started well, with good demand from commercial customers and consumers looking to increase their security’. It said this increase in demand seemed particularly underlined by ‘civil unrest’ during the summer. Chair Jo Haigh said: ‘We have had a very successful twelve months, focusing on driving the Croma Locksmiths business and Fire & Security business forward through delivering high levels of innovation and service, as well as seeking to increase our share of customer spend with a broader range of security services. We have considerable financial resources, and our acquisition pipeline is extremely promising. ‘We therefore have a significant opportunity to add value to acquired business given our expertise and experience. I have no doubt that the next twelve months will be pivotal in further transforming the group into an established and trusted name in security solutions.’ Copyright 2024 Alliance News Ltd. All Rights Reserved.
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