Petards Group Reports Downturn but Eyes Future Growth

Petards (GB:PEG) has released an update.

Petards Group PLC, a developer of advanced security and surveillance systems, reported a decrease in annual revenues to £9.42 million in 2023, down from £10.87 million the previous year, with a net loss after tax of £1.05 million due to exceptional acquisition and reorganisation costs. Despite the reduction, the company is pleased with its progress on a strategic acquisition that will expand into new sectors and expects cost-saving measures to improve its financial performance in 2024. The company’s strong second half of the year and significant orders for their new Harrier AI camera product signal potential for a better outlook.

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