News blog
Datong
- BY: Andrew Hore |
- POSTED: 06/12/2009 |
Surveillance technology developer Datong’s order intake is stronger than expected.
The order intake for the first six months of the year was £4.91m and this has increased to £7.8m since then. There are £800,000 worth of orders subject to export licence approval. Most of these orders are deliverable before the end of March 2010 so they should be included in the twelve month figures. The year end has changed to September so the next full financial period will be the 18 months to September 2010.
Revenues grew 86% to £2.81m in the six months to September 2009. Much of that revenue growth has come from America. The pre-tax loss declined from £1.62m to £1.31m.
Although there are worries about government spending levels Datong reckons savings will come from the budget for large capital equipment rather than intelligence gathering equipment. New products should help to increase sales and there are prospects in the Middle East and Asia.
There was net cash of £1.67m at the end of September 2009.
Datong would like to acquire businesses with surveillance products that will broaden the technology portfolio.
At 35p a share, Datong is valued at £4.84m.
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