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21st Century Technology

  • BY: Andrew Hore |
  • POSTED: 02/04/2013 |

Transport CCTV systems supplier 21st Century Technology expects further growth in Mainland Europe sales.

The UK is 15% of the EU market and it dominated 21st Century’s revenues last year. Overseas revenues should be more significant in the second half.

In 2012, continuing revenues were unchanged at £14m, while pre-tax profit is nearly one-quarter higher at £1.83m. Admin expenses were nearly £600,000 lower than the year before. 

Net cash is currently £2.75m. A maiden regular dividend of 0.7p a share has been declared and the plan is to distribute at least one-third of post tax profit.  Last July, a special dividend of 3.5p a share was paid out of the proceeds of a property disposal.

House broker finnCap forecasts a 2013 profit of £2m.

At 14.62p a share, up 1.12p, 21st Century is valued at £13.6m. The shares are trading on ten times prospective 2013 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf

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