By Christian Moess Laursen
Spectra Systems’ pretax profit rose in the first half of the year, boosted by higher banknote demand from central-bank customers, it said.
The provider of technology for banknote and product authentication said Monday that its pretax profit rose to $5.5 million in the half-year from $3.3 million in the first half of 2022, while its adjusted pretax profit rose to $5.8 million from $3.7 million a year prior.
Its total revenue rose to $11.6 million from $9.3 million, driven mainly by pre-production development contracts, as well as higher demand for materials to meet increased banknote demands of one of its existing central-bank customers, it said.
Adjusted earnings before interest, taxes, depreciation and amortization rose 55% to $5.9 million.
For the full year, the company expects to generate record earnings and to meet market views. Based on a Factset-provided market consensus, Spectra Systems should see sales of $20.0 million and a pretax profit of $7.6 million.
At 0741 GMT, shares were up 2.50 pence, or 1.5%, at 168.50 pence.
Write to Christian Moess Laursen at [email protected]
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