London Security Plc H1 revenue rises 9.2% on favorable currency exchange rate
London Security Plc H1 revenue rises 9.2% on favorable currency exchange rate
Overview
UK fire protection equipment provider's H1 revenue grew 9.2% yr/yr to £127.6 mln
Operating profit for H1 rose 13.7% yr/yr to £14.1 mln
Company attributed growth to improved service performance and favorable currency movements
Outlook
Company says demand for its products and services remains strong as they are non-discretionary
Company continues to experience upward input price pressures despite moderating inflation
Improved service performance is expected to drive organic growth in the service pool
Result Drivers
CURRENCY MOVEMENT - Co said favorable Euro to Sterling exchange rate boosted reported revenue and profit
SERVICE PERFORMANCE - Improved service performance from newly recruited engineers drove organic growth in the service pool
ACQUISITIONS - Acquisitions in the Netherlands and UK strengthened market presence
INPUT COSTS - Upward input price pressures persisted, with supply price increases passed on to customers where possible
Company press release: ID:nRSP8567Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 127.56 mln |
|
H1 Net Income |
| GBP 9.85 mln |
|
H1 EBIT |
| GBP 14.09 mln |
|
H1 Gross Profit |
| GBP 93.41 mln |
|
H1 Pretax Profit |
| GBP 14.05 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)