Trading Update

RNS Number : 3408T

Petards Group PLC

19 November 2013

 



19 November 2013

 

 

PETARDS GROUP PLC ("Petards" or the "Group")

 

Trading Update

Petards, the AIM quoted developer of advanced security and surveillance systems, is pleased to provide an update on current trading.

While trading conditions for 2013 have remained difficult, the board's expectation that order intake would improve in the second half of the year have been realised.  In the period since it reported its 2013 Interim Results on 30 September 2013 the Company has been awarded a number of significant contracts by both its rail and defence customers.  The value of these previously announced orders is in excess £10 million and as anticipated the revenue benefit of these orders will be largely seen in 2014.

The Company's current order book is approaching £20 million of which approximately half is expected to be delivered in 2014.  The Company presently has no bank borrowings although the significant increase in its order book brings with it a requirement for greater working capital. The Board is presently reviewing its options for addressing this requirement. 

Contacts:

Petards Group plc	www.petards.com
Raschid Abdullah, Chairman	Tel: [phone]
	Mb: 07768 905 004
WH Ireland Limited, Nomad and Joint Broker	www.wh-ireland.co.uk
Mike Coe	Tel: [phone]
Hybridan LLP, Joint Broker
Claire Louise Noyce	Tel: [phone]
	E-mail: [e-mail]
William Lynne	Tel: [phone]
	E-mail: [e-mail]

 

END

 

 

TSTUWAWRORAAAAA