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BlueStar SecuTech Inc
- BY: Andrew Hore |
- POSTED: 21/07/2011 |
BlueStar SecuTech Inc believes that market conditions will provide opportunities for it to continue to increase revenues.
The China-based digital CCTV equipment and services provider’s revenues grew from RMB191.8m to RMB212.7m in the year to March 2011. This was achieved even though software sales slumped. Most of the revenues come from two customers.
Pre-tax profit rose even faster – improving from RMB30.7m to RMB41m. This includes a one-off, non-cash gain of RMB3.93m. There was a small cash outflow from operations. Growth in earnings per share was more modest because of a tax charge in the current year, compared with a small credit in 2009-10.
Net cash was RMB52.2m at the end of March 2011. Capitalised development spending increased from RMB9.39m to RMB12.7m. A dividend of 0.78p a share has been proposed – equivalent to 0.87p a share before 10% withholding tax. Last year’s dividend was 0.84p a share.
The China Security Industry’s latest five year plan envisages a doubling of production in the security industry by the end of the period.
At 20.75p a share, BlueStar SecuTech is valued at £15.1m.
Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf
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