BANKNOTE printer and anti-counterfeiting equipment maker OpSec Security has warned that 2011/12 profits will be well below last year’s level.
The Washington-based business issued the grim statement to shareholders today for its financial year that ends on March 31.
It said: “Trading conditions during the traditionally stronger second half of the year have, to date, been extremely difficult.
“Overall, earnings for the current financial year are now expected to be substantially lower than last year.”
OpSec’s turnover for the six months to the end of September were just shy of £20m but it made a £1.72m pre-tax loss after it was hit by a £1.96m exceptional charge, covering an acquisition, costs and fees.
