News blog
Scotty Group
- BY: Andrew Hore |
- POSTED: 08/06/2009 |
Scotty Group says that delayed orders mean that its full year profits will be lower than last year.
The video telecoms equipment supplier reported a pre-tax profit of £927,000 in the year to July 2008. Interim profits dipped from £304,000 to £89,000 in the six months to January 2009, even though revenues improved from £2.46m to £2.65m.
Shares in Scotty fell 9.5p to 59p each, which values the company at £11.9m.
Scotty is hopeful that the delayed orders will boost its figures in the next financial year. The business is still highly dependent on the German military, although the customer base has been broadened.
There has been a contract win worth €8.4m but this will benefit the next two financial years. Scotty has received a firm order for the roll-out of mission gear satellite communications systems on CH-53GA helicopters for the German army. Eight out of the 37 systems should be delivered by the end of 2009.
There should be news of a contract for Eurocopter PV equipment in the next few months.
Scotty had net cash of £544,000 at the end of January 2009.
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