REG - Croma Sec. Sol. Grp - Trading Statement

Croma Security SolutionsAnnouncement

22/07/2024 07:00

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RNS Number : 9996W  Croma Security Solutions Group PLC  22 July 2024

22 July 2024

Croma Security Solutions Group Plc

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

Trading Statement

Croma Security Solutions Group plc (AIM:CSSG) is pleased to announce the
following update on trading for the twelve months to 30 June 2024.

During this period, the Company has traded well and continues to develop its
security centre network, add new commercial clients and expand the security
solutions the Group provides. As a result, Croma expects to report FY2024
results in-line with market expectations.

In June 2023, the Group sold its manned guarding business Vigilant for £6.5
million, in order to focus on the Company's core businesses, Croma Locksmiths
and Croma Fire & Security. As reported earlier this month, the Company
received a cash payment of £1.76 million as part of the consideration for the
sale of Vigilant with a further £3.48 million including interest to be
received over the next 8 quarters. As at the date of this announcement, the
Company has no borrowings and a cash position of £4.0 million.

Croma's strategy remains focused on driving the core business as well as
acquiring traditional locksmith stores and transforming them into modern
security centres with stronger in-store product ranges and much greater profit
potential. The Group boasts a strong balance sheet and there is a good
pipeline of store acquisition opportunities to support the Group's ambitions
to roll out its security centre network nationwide.

Roberto Fiorentino, Chief Executive Officer, commented: "We are pleased to
have completed a successful year in what has been a challenging market
environment. Looking ahead, we have a clear strategy together with the
financial resources and management expertise to execute it. As a management
team, we are therefore very focused on expanding our store presence and
benefitting from the  resulting growing economies of scale."

 

 

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

 

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

Roberto Fiorentino, CEO

Teo Andreeva, CFO

 

Zeus Capital Limited
                                           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

 

 

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