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21st Century Technology

  • BY: Andrew Hore |
  • POSTED: 02/07/2009 |
  • COMMENTS: Add yours

21st Century Technology says that its interim profits are significantly ahead of market expectations.

Producing better than expected figures is becoming a habit for the company. Shares in the public transport CCTV and monitoring systems provider jumped 2.125p to 7.375p each, which values 21st Century at £7.58m.

Interestingly, management has chosen to highlight profit after tax in the six months to June 2009. The tax charge is expected to rise from nil to 28% this year.

There have been strong sales of CCTV systems to Go-Ahead and EcoManager, which helps to reduce fuel costs.

Net debt should be £700,000 at the end of June 2009 after £800,000 of deferred consideration was paid.

Interim figures will be published on 9 September 2009.

Daniel Stewart forecasts full year profits of £300,000.

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