Security specialist has £12m worth of orders scheduled for delivery in 2017
Companies: Petards Group plc
Shares in AIM-listed security specialist Petards Group jumped 9% in early trading on Tuesday after the firm released strong final results for the year ended 31 December, showing revenues up 17%, EBITDA up 28%, and earnings up 19%.
The micro cap, whose clients include Siemens, Bombardier, Greater Western Rail, Hitachi, and the MOD, hit revenues of £15.3m, EBITDA of £1.6m, and post-tax profit of £910k. EPS rose 18% to 2.59p, with diluted EPS coming in at 1.86p/share.
Operating cash flow fell slightly to £1m, with cash also down marginally at £2.3m. Interestingly the firm has no bank debt, and despite its share price increasing 156% in the past year, its market cap is still just £11.21m, trading at a P/E of c.19.
Its order book grew £8 million in H2, and the firm now has £12m worth of orders scheduled for delivery in 2017.
Chairman Raschid Abdullah said the Board remained confident about the future prospects of the Group considering its forward order book and customer discussions:
"In light of the strength of the Group's order book containing orders of £12 million expected to be shipped and taken to revenue during 2017, and on-going discussions with both new and existing customers for further exciting projects, the board remains confident about the future prospects of the Group for 2017."
