Abbey Protection profits up 17%

by David Masters

Story link: Abbey Protection profits up 17%

Abbey Protection Plc this week posted its results for the first half of 2008 with profit up 17% on year and revenues up 8% on year.

Profit for the period ending 30th June 2008 was £2.82 million, or 2.81 pence per share. This is an increase of 17% compared to first half profit in 2007, which was £2.41 million, or 2.68 pence per share.

Operating profit increased 13% to £3.9 million, compared to £3.45 million in the same period a year earlier.

The company’s revenues for the first half increased 8% on year to £14.51 million, compared to £13.41 million in the first half of 2007.

A statement by Abbey Protection said results were consistent with expectations and that outlook is positive.

The company will continue in its strategy of organic growth in addition to looking out for acquisition opportunities.

CEO Colin Davison added that he is ‘extremely pleased’ with his company’s ‘strong’ performance.

Shareholders will be paid an interim dividend of 1.5 pence per share.