Red24 FY10 Pretax Profit Rises 17%, To Consider New Opportunities

LONDON (Dow Jones)-Red24 PLC (REDT.LN), a global security service provider, Friday reported a 17% increase in fiscal 2010 pretax profit and said it will take advantage of new opportunities that may arise including opportunities to maintain or increase margins. MAIN FACTS: -Revenue for the year ended March 31 increased 29% to GBP4.3 million (2009: GBP3.3 million) -Pretax profit up 17% to GBP628,294 (2009: GBP536,737) -Diluted EPS 1.4 pence (2009: 0.95 pence) -Maiden dividend payment of 0.15 pence per share paid in January; Board intend to pursue a progressive dividend policy. -Board intends to declare the dividend at the time of release of the half yearly statements that will be payable to shareholders mid-January. -Net cash increased to GBP937,885 (2009: GBP327,836) -Borrowings down GBP18,976 from GBP270,223 -Distribution deals with TravelGuard and HSBC renewed for a further three years -Continues to view the future with confidence -Shares on Thursday closed at 8 pence, valuing the company at GBP4 million -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires June 11, 2010 02:47 ET (06:47 GMT)