Petards, the AIM quoted developer of advanced security and surveillance systems, is pleased to provide an update on trading following the end of its financial year on 31 December 2010.
Profit before tax for the year to 31 December 2010 is expected to be in line with market expectations. Revenues for the second half year were higher than those for the first half year and cash flows were in line with expectations with net debt at 31 December 2010 standing at £2m.
Order intake towards the end of 2010 was stronger than earlier in the year. The Board expects that the phasing of orders taken in that period will result in 2011 revenues being weighted towards the second half of the year which has been the case in recent years.