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London Security PLC on Friday reported lower profit in 2024 and said the markets it operates in could be entering a period of low growth. The West Yorkshire, England-based manufacturer of fire protection profits said pretax profit was down 5.9% to £29.7 million in 2024 from £31.5 million the previous year. Revenue increased 0.4% to £220.7 million from £219.7 million, while cost of sales fell 0.4% to £58.8 million from £59.0 million. London Security declared a final dividend of 42.00 pence per share, unchanged from last year. The total dividend for the year was £1.22, down 1.6% from £1.24 for 2023. The company said 2024 was a ‘period of consolidation’ following a 16% increase in operating profit in 2023. It said the core servicing business ‘remains very consistent,’ while there was a ‘slight fall’ in special projects. It continues to face upward input price pressures despite moderating inflation, which has been passed on to customers where possible. Business confidence is reducing customers’ appetite to invest, Chair Jean-Jacques Murray said. Looking ahead, Murray said the markets that London Security operates in are ‘entering what is likely to be a period of low growth’. ‘The London Security group however has a healthy balance sheet, strong cash reserves and a track record for good cash generation. The board therefore considers that the group is well placed to weather any downturn. We will also continue to invest in our future and the group plans to continue to grow through acquisitions,’ Chair Murray said. Shares in London Security were untraded at 3,600.00 pence in London on Friday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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