REG - Croma Sec. Sol. Grp - AGM Statement

Croma Security SolutionsAnnouncement

04/12/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241204:nRSD6640Oa&default-theme=true

RNS Number : 6640O  Croma Security Solutions Group PLC  04 December 2024

04 December 2024

Croma Security Solutions Group Plc

 
("CSSG", "Croma", "the "Company" or the "Group")

AGM Statement

 

Croma Security Solutions Group plc (AIM:CSSG) is holding its Annual General
Meeting ("AGM") today at 09.00am.

Successful Year to 30 June 2024 Completed

We were pleased to be able to report a successful performance for the Group,
with revenue up 8.9% to £8.74 million, and EBITDA on continuing operations up
13% to £1.06 million. This completed the first year of operating under a new
strategy, to refocus on our core businesses - Croma Locksmiths and Croma Fire
& Security - and to expand our security centres into a national network
through new store acquisitions. To support our growth ambitions, the business
has grown successfully on a like for like basis by 6.3% and has a strong
balance sheet with no debt and cash of £4.1 million as at 30 November 2024
with a further £2.9 million due from the disposal of Vigilant.

 

Subject to approval by shareholders at today's AGM, a final dividend of 2.3
pence per share will be paid on 18 December 2024 to all shareholders on the
register at the close of business on 6 December 2024. The shares will be
marked ex-dividend on 5 December 2024.

 

Martyn's Law

 

The UK government is preparing to introduce Martyn's Law (Terrorism Protection
of Premises Bill) to Parliament, initiating new levels of safety in relevant
public premises and events venues so they are better protected from intrusion
or terrorist attacks. The Bill is known as Martyn's Law in honour of Martyn
Hett, who died tragically in the Manchester Arena attack in May 2017. For
Croma, as one of the UK's leading security systems advisors, the new
legislation is driving a high level of new enquiries from owners of premises
and venues seeking expert support to comply with the expected safety
protocols.

 

Current Trading on Track

 

From the outset of the current financial year, trading has been positive and
in line with market expectations with good levels of organic growth across our
core markets in the education, utilities, health and leisure sectors.
Customers are seeking both traditional security services and more complex,
integrated solutions reflecting a general demand for greater security in
today's risk-conscious environment. In addition, the main driver of growth
will continue to be through the expansion of the security centre network. The
Company has a good pipeline of opportunities to acquire profitable locksmith
stores some of which are close to completion. These stores will be transformed
into modern security centres, boosting the Group's revenue and customer base,
and adding to the overall network of centres.

 

For further information visit www.cssgplc.com or contact:

 

Croma Security Solutions Group
Plc
            Tel: +44 (0)1489 566 166

Roberto Fiorentino, CEO

Teo Andreeva, CFO

 

Zeus
 
   Tel: +44 (0)203 829 5000

(Nominated Adviser and Broker)

Mike Coe

Sarah Mather

 

Novella
 
       Tel: +44 (0)203 151 7008

Tim Robertson

Claire de Groot

Safia Colebrook

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF EU
REGULATION NO. 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMQKNBPABDDBBK