LONDON (ShareCast) - Roadside speed cameras firm Avingtrans saw pre-tax profits before intangibles for the year slump as admin expenses increased.

Profit before tax and intangible amortisation came in at £1.8m versus £3.2m last year as admin costs increased to £7.2m (2007: 5,397). Turnover rose to £41.2m from £40m in 2007.

Pre-tax profit after intangibles rose to £1.6m from £229,000 in the previous year, which was affected by a £2.6m impairment charge.

The group said the principal market it serves continues to be robust in the face of difficult global economic conditions.

“A substantial element of the expected turnover for 2009 is underpinned by our order book,” said the group.

“However, to achieve or outstrip the demanding targets we have set ourselves, we need to win certain new business (and have clear visibility of these potential orders). Subject to our continued success in closing this work and timing considerations, we look forward to a substantially improved performance,” it added.

Total dividend remained at 1.25p for the year.

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