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  • BY: Andrew Hore |
  • POSTED: 30/05/2011 |

Surveillance technology developer Datong reported an improved underlying profit in the six months to March 2011 even though revenues fell.

Revenues fell from 7.41m to 6.33m but that was due to lower third party sales where margins are lower. Own product sales rose from 4.36m to 5m as North American sales recovered. New product launches will generate revenues in the second half although sales cycles are getting longer outside of America and Europe.

The underlying profit improved from 530,000 to 762,000 and Datong remains on course to return to profit in the full year. Capitalised development spending of 701,000 was similar to the spend in the first half of the previous year.

Datong wants to acquire similar businesses with their own technology platforms.

Net cash was 1.57m at the end of March 2011. Datong hopes to sell its old premises for 375,000 before the end of the financial year.

At 57p a share, Datong is valued at 7.89m.

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