Member Article

Gateshead's Petards looks to strong order book for H2

Petards Group plc, a developer of advanced security and surveillance systems, has revealed a slight increase in pretax profits whilst highlighting the strength of its order book, as it prepares to rise to the challenge of the year’s second half.

Reporting its interim results for the six months to 30 June 2015, the Gateshead-based firm said its order book remained strong at £19m, providing good revenue cover for the second half of 2015.

The company saw a pre-tax profit rise from £273k to £356k although revenue fell to £6.07m from £7.16m.

Nevertheless, other highlights for the company included over £2.5m of orders for Petards’ eyeTrain CCTV systems under the framework agreements held with Siemens and Hitachi, and a new project from Bombardier.

Raschid Abdullah, Chairman, said: “The continued strength of the order book at 30 June provides good support for revenues for the second half of 2015, with around 40% currently scheduled for delivery before the year end, giving the Board confidence for a satisfactory outcome for the year.”

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