Share Name Share Symbol Market Type Share ISIN Share Description
Croma Security Solutions Group Plc LSE:CSSG London Ordinary Share GB00B5MJV178 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 75.50 0.00 08:00:00
Bid Price Offer Price High Price Low Price Open Price
71.00 80.00 75.50 75.50 75.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 32.32 0.09 -0.90 11
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 75.50 GBX

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Croma Security Solutions Daily Update: Croma Security Solutions Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker CSSG. The last closing price for Croma Security Solutions was 75.50p.
Croma Security Solutions Group Plc has a 4 week average price of 71p and a 12 week average price of 66p.
The 1 year high share price is 81p while the 1 year low share price is currently 59p.
There are currently 14,902,142 shares in issue and the average daily traded volume is 17,778 shares. The market capitalisation of Croma Security Solutions Group Plc is £11,251,117.21.
rivaldo: Good to see the price continuing to move up with the spread widening - not much stock around perhaps (or even less than usual). Maybe one or two larger buys will be reported later.
rivaldo: Cheers EC. As you say, I think those forecasts are prudent. In particular I believe the cash pile will be much higher than £4.65m, unless of course there's an acquisition or two. Good to see CSSG getting some attention on Stockopedia, with a new review by Jack Brumby in his market update yesterday. He concludes: "Robust Trading Both divisions have traded well since the start of the year and the impact of Covid-19 has been more than offset by strong performances elsewhere in the group. The board now anticipates a better result than previously expected, with FY EBITDA of at least £1.85m (2020: £1.75m). Taking the group’s net cash figure of £5.5m below and using that for the EV calculation, that looks like striking value on the face of it (EV/EBITDA of c3.85x). Croma Systems (which includes the lockdown-affected locksmith stores) is expected to deliver an increases in sales and profits against the prior year. Croma Vigilant, the largest division, is also expected to perform well against the prior year. This division has benefitted from the increased need for manned guarding and Proception services. Balance sheet – no debt (excluding lease liabilities) with net cash of £5.5m. That’s highly significant given the market cap, as is the level of annual revenue. Conclusion Trading momentum is positive and if this is a viable business, then the shares are likely mispriced at current levels on account of the material net cash holding. Croma has struggled to increase net profits in line with revenue growth though. Despite that, the group looks strongly cash generative so perhaps profits are understated. With such a small market cap, corporate governance and depth of management are key considerations. Is there enough quality at the top to get Croma up to the next level in terms of scale? A quick look at indeed shows some mixed reviews from employees. By itself, not enough to come to any kind of conclusion, but it’s enough to suggest this is an area to investigate further. As noted above, it’s good to see some institutions present. There’s probably potential here, but also clear risks primarily around liquidity – if there is ever a profit warning and you want to get out, it’s going to be tricky. This must partially explain the cheap valuation."
rivaldo: WH Ireland have issued an update note as follows - no specific forecasts as yet, but hopefully a dividend of at least 2p per share coming soon. It would be great to see that £5.5m cash pile utilised for one or more of those expected and transformational acquisitions..... "Croma Security Solutions (CSSG) – Corporate – Positive update; trading ahead of management expectations and last year Market Cap £10m Share Price 67.5p A positive update from CSSG shows that both Vigilant and the Systems business are trading well, with overall EBITDA set to exceed management expectations in the year to 30 June 2021, coming in at >£1.85m. Notwithstanding one-off business, which was in run-off and which the company has exited since the prior year, and also the fact of FY2021 bearing a bigger burden of lockdown that the previous year, CSSG has still succeeded in lifting EBITDA by 6% YoY (FY2020: £1.75m). It has also succeeded in generating a higher level of profits in the second half (H1 / H2 split: 48% / 52%). Renewed lockdown impacted the company’s locksmiths and systems businesses in particular during its Q2 and Q3 trading quarters (i.e. from December to mid-April). Net cash at £5.5m is well up on the September 2021 number of £3.6m In terms of the divisions, both sides of the business are progressing well. The Vigilant business, which is a market leader in its field, delivering services ranging from guarding by ex-military personnel to front of house in residential and other buildings, is benefiting from the increased need to guard empty premises. We expect this will continue post-pandemic. Its front of house service is continuing to achieve increased market share and is integrated with its security services offering. Beyond this, in the systems division, we also see growth, with entertainment centres increasingly open, and more expected in that realm post the planned 19 July opening of public facilities such as cinemas and theatres. WHI view: It is pleasing to see balanced growth within CSSG, and the response to the pandemic was good, while the company is now responding to new post-pandemic requirements from its clients. The company should prove a beneficiary of increased economic activity and more opportunities both on the systems and the manned guarding fronts. The latter in particular has a strong overall offering to provide to local authority and other clients. We note that the dividend will be resumed and anticipate, without having formal forecasts for CSSG, that it will repeat levels paid in recent years, given the company’s statement that the final dividend will reflect the results it anticipates."
bookbroker: It’s good to see a reassuring statement from CSSG., particularly in the cash pile. And hopefully the security centres will have an uninterrupted twelve months for the next financial year. This is the part of the business which could potentially show meaningful growth with regard to the top and bottom line. I hope the market will reflect that the valuation is too low with regard to the strength of the balance sheet.
rivaldo: The year end trading statement is out - and it's excellent. Results are better than anticipated - and will be ahead of the prior year despite the pandemic. There's a hint that the final dividend will be terrific, and there's confidence that the business will continue to grow.. The £10m m/cap is bonkers given £1.85m EBITDA - at minimum - and a £5.5m and fast rising net cash pile! Https://uk.advfn.com/stock-market/london/croma-security-solutions-CSSG/share-news/Croma-Security-Solutions-Group-PLC-Trading-Stateme/85452848
masurenguy: Good update and dividend - let's see what the market makes of it ! Pre- Close Trading Update Croma Security Solutions Group is pleased to announce the following pre-close trading update for the 12 months to 30 June 2021. Robust Trading Since the beginning of our financial year, both divisions have traded robustly and where Covid-19 has restrained the business, this has been more than offset by strong performances from other parts of the Group. As a consequence, the Board is anticipating reporting a better result than management had expected for the full-year with EBITDA of at least £1.85 million (2020: £1.75 million). The restrictions placed upon the business due to Covid-19 particularly on the retail side of the business were in place for the majority of the year whereas in the prior year they only took effect for 4 months. Despite this, Croma Systems which includes our locksmith stores is expected to deliver increases in sales and profits against the prior year. Croma Vigilant, our largest division is also expected to perform well against the prior year. The division has benefitted from the increased need for manned guarding services for empty premises and its PROception service which integrates the provision of front of house services with premium security services for individual buildings or larger complexes. Strong balance sheet The Company has no borrowings (excluding lease liabilities) and has maintained a strong balance sheet which has strengthened further over the past 12 months. As at today's date, the Company has net cash of £5.5 million. The cash position underpins the Board's confidence in the business and its ability to take advantage of any opportunities which may arise. Dividend At the half-year, the Board decided not to pay an interim dividend as a precaution given the general market uncertainties and instead wait until the year to pay to shareholders a final dividend which reflects the strength of the full year performance once it has been delivered. It is clear, the Company will achieve results ahead of the previous year and the final dividend is expected to reflect this. Sebastian Morley Chairman of CSSG said: "Our teams adapted quickly and efficiently to implementing Covid-19 security safe protocols across the hundreds of buildings we protect 365 days a year. This adaptability has been key to maintaining and winning new accounts and our trading performance reflects this. Consequently, we are confident in our ability to continue to navigate through the current trading restrictions and at the same time continue to grow our business."
bookbroker: Deal is share price is usually ramped up prior to a placing, not tickling down! Off course, in PTRO’s case the broker has let them down, particularly in light of all the positive news.
bookbroker: Would like other people’s perspective on this, no one, the directors, shareholders, not even myself seems to know what is happening within this company. Maybe no news is good news, but clearly a lack of it is weighing on the share price. Some sort of trading statement would be preferred once a quarter at least. But the management here seem to be disinterested in outside investors!
rivaldo: EC, your thoughta are appreciated. My own valuation would be higher as imo the £3.9m cash pile against the £10.9m m/cap is so substantial that one should produce a valuation which includes this sum rather than just a P/E based target. Particularly as CSSG are likely to make an earnings-enhancing acquisition using this asset in the near future. WH Ireland have produced a new note on CSSG - this is a "First Light" note and doesn't include forecasts, so I assume this is an initial take which will be expanded upon soon: "Croma Security Solutions (CSSG) –Corporate –Half Year Report: Covid disruption held to minimum; well-placed for the full year Market Cap £10.7m Share Price 72p Generating £0.9m EBITDA in the six months to December 2020 (H1-21E), CSSG has produced a highly creditable set of H1 results, particularly set against the backdrop of the second lockdown, which partially impacted their business as before. Sales overall at £16.4m tailed H1-20A by just 6%, while EBITDA saw a £200k-plus reduction YoY –but it is important to note that this includes some one-time business which was in any case in run-off irrespective of Covid / lockdown, as previously flagged by the company. Net cash at £3.6m is meaningfully up by 89% YoY, reflecting the cash-generative qualities of the business even in difficult times. Encouragingly, trading patterns are good in the current calendar year (FY-21E H2 from thecompany’s reporting perspective). Divisionally, thanks to Covid, this is a tale of varying developments, with the well-respected Vigilant manned guarding operation (manned by ex-military personnel and now offering a well-received front-of-house service) suffering little or no impact from the pandemic –in fact, possibly emerging as a net gainer, and succeeding in growing revenues by as much as 6%. Again, this is highly creditable since we estimate that H1 run-off work may have declined by as much as £100k YoY. In Systems and Locksmiths, revenues fell YoY, inevitably, given that trading was below normal levels due to Lockdown 2; however sales grew strongly as against the second half of the prior year, by some 31%, a tribute to the fact that CSSG’s Locksmith centres were able to open for the whole of the six months to December ’20, as they were not in the first lockdown. That said, Security Systems clients such as entertainment venues remained closed, -bearing everything in mind, we view this as a very decent outcome at the divisional level. WHI view: We expect similar dynamics as before to continue to play out in H2, in other words (1) good underlying growth from Vigilant, which continues to fire on all cylinders, (2) the non-underlying business flagged previously to have been concluded, (3) lockdown generating its own security concerns which are answered by manned guarding supporting Vigilant, (4) continued recovery within the Security Systems and Locksmiths businesses, moderated by Lockdown 3. Looking further forward, we view the company as a gainer from renewed economic activity looked for in the second half of calendar 2021, and see future opportunities within the increased emphasis on security, the strong brands within the group (notably Vigilant) and the excellent track record in winning prestigious local authority and other contracts. The company has highlighted potential consolidation opportunities going forward, and this too seems very believable."
rivaldo: My pleasure EC - note the £1.6m EBITDA indicated for the year just ended, and the record cash pile: "Croma Security Solutions(CSSG)̵1;Corporate– Impact from Covid only “slight”, DPS to be reinstated, a further contract win for VigilantMarket Cap £10.2mShare Price 77.5p Yesterday’s update from CSSG reconfirms the positives highlighted in the company’s trading update on June 8th, notably the slight impact of Covid-19, the strong cash position, and the success of its premium guarding services. On the back of these drivers, the dividend is tobe reinstated at a 0.75p levelfor an interim DPS to be paid on September 4th, and this in itself should serve to reflect the company’s confidence in the outlook. In so doing, the Board is carrying through on its promise to review the original decision to suspend, taken early in lockdown, and paying tribute to the resilience of the business. In addition to the comments on trading and the reinstatement of the dividend, the company has announced a new contract win today, worth £1.3mp.a. and starting ten months into the current financial year (year to end June ’21). The contract is to manage the security at the Edinburgh St James centre –a prestigious award which saw a high level of competition, according to the company, and which will include CSSG’sfront of house security service for offices which the company has developedin recent times. WHI view: The typical H1 weighting of the business is present in 2019 / 20, in which the company has indicated that it expected to make £1.6m EBTIDA or more. With some one-off business concluding during the year, this remains a strong number, particularly against the Covid backdrop, which had some impact on CSSG’s retail businesses.The contract win is encouraging as displaying CSSG’s ability to win against strong competition, and the record levels of cash highlighted are also a real positive for the company in the current environment."
Croma Security Solutions share price data is direct from the London Stock Exchange
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