Digital Barriers posts loss after acquisitions

The firm, which bought Leeds-based video surveillance firm Coe last September, reported a pre-tax loss of £4.6m and an adjusted loss before tax of £2.7m while revenue was £6.6m for the 13 months to March 31.

Digital Barriers said the results reflect the phased acquisitions by the group during the period and ongoing corporate overheads.

The company made four acquisitions last year.

Digital Barriers raised a total of £55m before expenses through executive director contribution, the IPO in March 2010 and a share placing in December 2010.

Executive chairman Dr Tom Black said: “With our strategy now validated, and with strong sales interest across each of our target regions, we continue to see the opportunity for Digital Barriers as very compelling over the medium to long term.

“We also have a good pipeline of potential acquisitions which gives us additional confidence in the future of the group.”

The company said it was continuing to develop an international presence, with offices in London, Singapore and Washington DC. It is planning to open an office in the Middle East later this year.