21st Century Technology plc (AIM: C21), the specialist provider of tailored solutions to the transport community, solving complex operational requirements both on and off vehicle, announces its interim results for the six months ended 30 June 2018.
Financial headlines
- Underlying profit before depreciation and amortisation £0.2m (2017: underlying profit £0.04m)*
- Operating profit £0.4m (2017: loss of £0.2m)
- Revenue £6.4m (2017: £5.6m): 18% growth in Fleet Systems; 9% growth in Passenger Systems
- Gross profit £2.4m (2017: £2.3m)
- Cash £0.2m (2017: £0.1m)
- Basic and diluted earnings per share 0.37p (2017: loss of 0.28p)
* Underlying profit represents profit before interest, tax and share-based payment credits/(charges).
Operational headlines
- Asset client update
o Abellio, secured in 2017, now has one of the highest CCTV availability levels for London bus operators
o Arriva Sweden contract extended by twelve months to June 2019
o Translink £0.4m contract with additional revenue for upgrade services
o Further overseas sales to Keolis (Holland) £0.3m and New Zealand £0.8m - Adoption of new technologies and software
o Fleet Systems – First Bus deployment of 1,350 Journeo RCM units
o Passenger Systems – first tranche of six NHS public messaging solutions including real-time analytics - R&D capabilities increased
o Development team expanded to 15
o Innovations developed in house nominated for industry awards
o Part-funded programmes underway in rail and environmental applications - ISO certifications and approvals now retained under common accreditation body
Russ Singleton, CEO of 21st Century Technology plc, said: “The progress made in the first six months demonstrates that our strategy is beginning to yield positive results. Sales have increased with the addition of new asset clients and our customer base has diversified further in the UK and overseas. Our significantly stronger order book has been maintained, the pipeline of enquiries continues to grow, we are receiving increased interest in our software and technology solutions, and new regulations are presenting further opportunities. I look forward to reporting on our progress and expect our improved performance to continue.”
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