News blog

21st Century Technology

• BY: Andrew Hore |
• POSTED: 21/12/2012 |

Transport CCTV systems supplier 21st Century Technology says that its 2012 pre-tax profit will be one-fifth higher at £1.8m and it is paying a maiden dividend.

Even so, that is still lower than the Daniel Stewart profit forecast 12 months ago. The profit would have been higher but bus manufacturing schedules were changed which led to delays in supplying systems.

If cash generation and profitability are maintained then 21st Century will pay a dividend equivalent to at least one-third of pre-tax profit. That is £600,000 so it should be equivalent to 0.64p a share.

In the six months to June 2012, pre-tax profit fell from £730,000 to £678,000. Operational and cost efficiencies have helped to improve margins.

At 12.5p a share, up 1.38p, 21st Century is valued at £11.7m.

The 2012 figures will be published in March.

Peter Gyllenhammar trimmed his stake to 25.6% at the end of August.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf