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Interim results announcement

23 September 2021

Petards Group plc (AIM: PEG), the AIM quoted developer of advanced security and surveillance systems, is pleased to report its interim results for the six months ended 30 June 2021.

Key Highlights:

  • Operational
    • Order book at 30 June 2021 £9 million (H1 2020: £12 million)
    • Return to profitability at all levels and strong cash generative performance
    • eyeTrain deliveries and revenues recovered from H1 2020 COVID-19 related factors although order intake is still being affected
    • QRO continues to perform well with good contribution from NASBox product acquisition
    • Reduction in on-going cost base in 2020 has fed through to improved gross profit margin
    • Defence related activities on an improving trend
  • Financial
    • Revenue £7.7 million (H1 2020: £7.1 million)
    • Gross profit margin increased to 39.6% (H1 2020: 34.4%)
    • Adjusted EBITDA £929,000 (H1 2020: £337,000)1
    • Post-tax profit £430,000 (H1 2020: loss £469,000)
    • Cash generated from operating activities £1,669,000 (H1 2020: £1,802,000)
    • Net funds at 30 June 2021 increased to £2.7 million (31 Dec 2020: net funds £1.2 million)²
    • Group’s bankers replaced existing term loan with £0.5 million CBILS term loan and secured undrawn £2.5 million 3-year CBILS overdraft facility to May 2024
    • Diluted EPS 0.74p earnings (H1 2020: 0.82p loss)


  1. Earnings before financial income and expenses, tax, depreciation, amortisation, share based payment charges and exceptional restructuring costs
  2. Total net funds comprise cash and cash equivalents less interest-bearing loans and borrowings (including lease liabilities)


Commenting on the current outlook, Raschid Abdullah, Chairman, said:

“The Board expects further progress to be made in the second half year and while some customer delivery schedules are still tending to change at short notice, trading presently remains broadly in line with market expectations and the Board expects the Group to deliver a cash generative performance for year.”

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This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.



Petards Group plc
Raschid Abdullah, Chairman Mb:  07768 905004
WH Ireland Limited, Nomad and Joint Broker
Mike Coe Tel:  0207 220 1666
Hybridan LLP, Joint Broker
Claire Louise Noyce


Tel:  020 3764 2341



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