Digital Look

Petards set to beat FY market forecasts

Date: Monday 08 Feb 2010

Shares in aim listed CCTV company Petards flew off the shelf after it said profit before tax for the full year is set to come in higher than market expectations.

Cash generation in the second half was also stronger than expected due to lower working capital.

Petards also expects to report net debt of approximately £0.8m at 31 December 2009, reduced from £1.8m at the end of June 2009.

Working capital is expected to increase over the course of 2010.

The group added its financial position has been boosted by the extension of its term loan facilities to 31 December 2012.

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