Member Article

22% revenue rise at Gateshead security firm Petards

Gateshead-based security firm Petards has reported a 22% total revenue increase to £7.4m, up from £6.1m last year.

Announcing its interim results for the six months to 30 June 2016, the firm revealed a strong set of trading results which included profit growth for the fifth consecutive six month period.

The firm’s pre-tax profit from continuing operations increased by 48% to £526k, up from £356k last year, with the group’s increased deliveries of its eyeTrain surveillance products a major contributing factor in the upturn.

Moreover, Petards’ acquisition of QRO Solutions has led to an expansion in its software capabilities with the firm preparing to undertake ‘a number of exciting order prospects’ currently being negotiated.

Raschid Abdullah, Chairman, said: “With the strong results for the half year and the current orders scheduled for delivery in the second half year, the board is confident that the Group is well placed to deliver full year results in line with market expectations.”