Pentagon Protection: order delays force 1H 2005 loss

UK-based Pentagon Protection PLC, a provider of protective film and glazing products to the commercial building and automotive industries, announced a loss for the six months to March 2005 as a result…

UK-based Pentagon Protection PLC, a provider of protective film and glazing products to the commercial building and automotive industries, announced a loss for the six months to March 2005 as a result of order delays. Pretax losses totaled GBP 563,495 in the 1H 2005, compared with a breakeven result in the same period 2004, on turnover down to GBP 1.37 million from GBP 1.46 million. The results were hit by one cancelled and one delayed order and by a longer-than-expected gestation period for securing contracts from two leading companies in the oil and gas sector in the Middle East. Chairman David Thomas said: “Despite the temporary setbacks during the 1H of the year, the board remains confident that the outlook for the future is positive, especially given recent contract gains from multinationals, the refocus towards engaging global clients at HQ level, and the alliance with an established North American partner that we believe is well-placed to access the significant US market. These developments are making the company more competitive globally.” Pentagon said it expects recent contract gains to affect the final quarter of 2005. “We look forward to reporting continued progress across all areas of the business in the 2H and beyond, as we recover the group“s momentum”, Thomas said.