Strong interim trading for Croma Security Solutions Group means that it is well on the way to achieving full year estimates.
In the six months to December 2014, revenues improved from £7.31m to £8.3m, while the pre-tax profit jumped from £144,000 to £270,000. The Commonwealth Games in Glasgow provided some of this growth. WH Ireland forecasts a full year profit of £600,000, rising to £700,000 in 2015-16. ,
Fastvein, which is able to scan the unique vein pattern in a finger, has been developed and the first sales are being made as part of a security installation in the Middle East.
At 50p a share, Croma is valued at £5.6m. Net debt was £1m at the end of 2014. The shares are trading on 13 times forecast 2015-16 earnings.
Croma has already paid an interim dividend of 0.3p a share. A total dividend of 0.6p a share is forecast.
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