Thursday May 8, 12:51 PM
Gatekeeper surges on hopes of better 2008
LONDON (ShareCast) - Shares in shopping trolley security firm Gatekeeper Systems (LSE: GKR.L - news) surged by 60% after it said acquisitions
and organic growth should power a sharp rise in pre-tax profits over 2008.The California-based company reported a fall in pre-tax profits to $1.4m in 2007, from $3.3m in 2006, but said it anticipated this rising to $4m in 2008. Revenues in 2007 fell to $28.4m from $29.6m. North American turnover dropped to $19m from $21.5m, largely due to a 700-store rollout in 2006 not being completed the following year, Gatekeeper said. European turnover rose to $9.3m from $8.1m, while first Asian sales of $158,000 did not meet expectations. Gatekeeper acquired a 30% stake in RTP Controls, a company providing businesses with solutions to reduce power consumption, in January for $2.5m. "With the addition of projected net profitability from our recent acquisitions and anticipated growth of our existing product offerings, our profit before tax for 2008 is expected to be at least $4m," the company said.
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