ArmorGroup lifted by Iraq chaos
عقد جديد للمخازن بالعراق
Thu 15 Sep 2005
ARG - ArmorGroup
LONDON (SHARECAST) - Security specialist ArmorGroup reported first half profits up by a fifth as work in Iraq continues to increase.
The group, which issued a profit warning in July, lifted pre-tax profit in the first half by 20% to $4.7m. Sales rose by 27.9% to $103.1m. Contracted revenue for 2005 stands at $230.1m.
Significant new contracts have been signed in Iraq since the half year the company said, including a $25m convoy protection contract with PWC Logistics, $18.4m extensions to FCO funded work in Iraq and Afghanistan, a $7m logistics protection contract with Tomen Corporation and a $5.8m deal for police mentoring in Basra.
Chief executive Jerry Hoffman said the board is encouraged by the increasing demand for its services in all markets as well as Iraq.
The group declared a maiden interim dividend of 1.25p per share.
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http://www.sharecast.com/cgi-bin/sh...story_id=539486