Source - SMW
London Security's revenues rose to £56.3m in the six months to the end of June - up from £50.2m - and operating profits increased to £9.3m from £7.9m.

The results were affected by the movement in the euro to sterling average exchange rate which has decreased from 1.36 to 1.28. 

This movement in exchange rates had a positive effect of £2.5 million on reported turnover.

 If the 2016 results had been translated at 2015 rates, revenue would have been £53.7 million instead of £56.3 million, an adjusted increase of 7.0%. This revenue increase can be attributed to acquisition activity (£1.1 million) and improved organisation of work which results in services being performed earlier in the year.

Adjusting for the change in exchange rates on the same basis, operating profit would have been £8.8 million instead of £9.3 million (an adjusted increase of 11.4%). 

Operating profit as a percentage of turnover has risen from 15.7% to 16.5% as fixed costs, largely of an administrative nature, have been spread over increased turnover.


At 1:27pm:

(LON:LSC) London Security PLC share price was 0p at 1962.5p