Petards Group PLC Trading Update (3408T)

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RNS Number : 3408T

Petards Group PLC

19 November 2013

PETARDS GROUP PLC ("Petards" or the "Group")

Trading Update

Petards, the AIM quoted developer of advanced security and surveillance systems, is pleased to provide an update on current trading.

While trading conditions for 2013 have remained difficult, the board's expectation that order intake would improve in the second half of the year have been realised. In the period since it reported its 2013 Interim Results on 30 September 2013 the Company has been awarded a number of significant contracts by both its rail and defence customers. The value of these previously announced orders is in excess GBP10 million and as anticipated the revenue benefit of these orders will be largely seen in 2014.

The Company's current order book is approaching GBP20 million of which approximately half is expected to be delivered in 2014. The Company presently has no bank borrowings although the significant increase in its order book brings with it a requirement for greater working capital. The Board is presently reviewing its options for addressing this requirement.

Contacts:

 
 Petards Group plc                                  www.petards.com 
 Raschid Abdullah, Chairman                      Tel: 01483 452 333 
                                                  Mb: 07768 905 004 
 
 WH Ireland Limited, Nomad and                 www.wh-ireland.co.uk 
  Joint Broker 
 Mike Coe                                        Tel: 0117 945 3470 
 
 Hybridan LLP, Joint Broker 
 Claire Louise Noyce                             Tel: 020 7947 4350 
                                  E-mail: claire.noyce@hybridan.com 
 William Lynne                                   Tel: 020 7947 4361 
                                 E-mail: william.lynne@hybridan.com

This information is provided by RNS

The company news service from the London Stock Exchange

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