Partner Article

Opsec seeks future growth

ANTI-COUNTERFEITING company OpSec Security said it is confident of achieving growth this year despite enduring an 11% plunge in revenue in the year to 31 March.

The Washington AIM-listed business saw its group revenue decrease by 11% to £35m with adjusted operating profits down to £2.5m, reflecting the impact of global economic conditions in the first half of the year.

OpSec, which supplies anti-counterfeiting technologies, services and programmes, said it now has a stronger pipeline than it has historically enjoyed.

“This pipeline, taken together with the new customers already secured, underpins our growth targets for the current year,” said chairman David Mahony.

The company said the second half of the year was substantially stronger than the first half while the improved trading has continued into the early part of the current year.

It also said the significant cost saving measures implemented had improved the operating leverage in the business and are benefiting profits.

OpSec employs around 85 people at its UK headquarters in Washington and has a further 100 staff based in the US.

This was posted in Bdaily's Members' News section by Ruth Mitchell .