LONDON (ShareCast) - (Sharecast News) - Croma Security Solutions Group updated the market on its half-year ended 31 December on Monday, reporting a successful trading period in which it generated revenues and profits ahead of its internal expectations.
The AIM-traded firm said trading through both divisions benefitted from high demand from both the public and private sectors.

Its 'Croma Vigilant' operation, which employed more than 1,200 "security professionals", reportedly benefitted in the prior financial year from some large one-off contracts which were not expected to be repeated in the current year.

However, in the first half the division had continued to win an increasing share of the security market - both contracted and shorter projects - as the board said institutions were opting for its premium service.

That resulted in trading being maintained at the record levels achieved in the prior year.

The 'Croma Systems' division, which provides of a range of security technology services including CCTV, intruder alarms, 'FastVein' biometrics, and high security locks, also benefitted from good demand across its business activities.

As a result, the company said it expected to report EBITDA of no less than £1.2m for the six month period, in line with the £1.2m reported a year ago.

Looking ahead, Croma, said that it had reflected on both the real and perceived increases in risk across the UK, noting that security had become a higher priority for both public and private institutions, which had substantially increased demand for Croma's client solutions.

As a result, the board had been working on the company's future strategy, which it said wa aimed at maximising its opportunity and further developing Croma's market position within the UK security market.

That would occur by setting new standards in providing premium guarding services, community awareness schemes and innovative front of house solutions under the Croma Vigilant and 'PROception' brands.

It would also build a national network of Croma Security Centres through which all of the group's services would be sold, and attempt to position itself as "the British security brand".

"We are at an important juncture in CSSG's development," said chairman Sebastian Morley.

"We have a distinct brand known for providing reliable and professional services with an ex-military ethos and significant growth in demand for our services.

"We have therefore decided to put plans in place to support our aim of becoming the British homeland security brand."

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