Revenues up at Petards as acquisition lifts trading

SECURITY technology firm Petards has reported a significant boost to half-year revenues and narrowed operating losses.

- TOM KEIGHLEY

The improved interim numbers follow a full six months trading of Affini, the Derby-based wireless specialist that Petards acquired last year.

Chairman Rachid Abdullah also said underlying profitability at the group's other operations including its rail business on Tyneside - had helped.

Revenue was up 78% in the six months to the end of June to £7.9m while operating losses reduced from £878,000 to £185,000. Adjusted Ebitda of £509,000 was reported, up from £33,000 in the same period last year.

Across the group's rail division, which operates out of Gateshead, difficult market conditions were said to have continued with delays to customer decision making and order placement.