Pentagon Protection PLC said its full-year pretax loss narrowed to GBP 325,543 against GBP 1.15 million in 2006, and said it is now in a position to gain significant market share, although the full ye…
Pentagon Protection PLC said its full-year pretax loss narrowed to GBP 325,543 against GBP 1.15 million in 2006, and said it is now in a position to gain significant market share, although the full year result was below its target. Operating losses, derived from continuing activities, narrowed to GBP 329,787 from GBP 1.14 a year earlier. Revenues for the period rose 7.4% to GBP 1.74 million from GBP 1.62 million in 2006. The company said a contract at Dubai Airport where stringent security measures were initiated after the contract had already been started, added about GBP 100,000 in additional costs which were not recoverable from the client. The losses also rose as the sales team invested significant time and effort in large, profitable overseas contracts, which took longer to come to fruition than was originally anticipated, the company added. However, administrative expenses have decreased by nearly GBP 400,000, representing a fall of 33.3% compared to 2006 due to strict spending management and a reduction in staff numbers throughout the business, the company added.