Sprue Aegis (AIM:SPRP) – on fire!
The leading supplier of smoke alarms and CO alarms issued some ‘hot’ interim numbers for the 6 months to June 2015 despite material currency headwinds. With plenty of cash, an expanding product portfolio and supportive legislation in key European markets this one looks well placed to continue to deliver.
Sprue designs and sells smoke and CO alarms and other safety products and accessories under its brands of FireAngel, AngelEye, SONA, FireAngel Pro and Pace Sensors. Sprue also sells the smoke and CO products of BRK Brands Europe Limited (“BRK Brands”) and is the exclusive European distributor for BRK Brands. Revenue in the period more than doubled to £56.5m (H1 2014: £23.8m) helped in particular by the strong sales into France and to a lesser extent, Germany, more on that below. While operating profit pre-share based payment charge more than tripled to £9.0m, at like for like exchange rates operating…