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Croma deal lifts shares
Shares in Croma Group, the Dumfries-based security firm run by former soldiers of the Black Watch, soared yesterday after it announced a new contract.
The company signed a five-year contract worth £5.75 million to secure the premises of “a major listed London property group”. It shares rose 29 per cent to 2.23p.
Chief executive Sebastian Morley said the asset protection deal, secured by the firm’s Vigilant Security subsidiary, was a significant win.
“Once again our success highlights that the security service offered by our ex-military security professionals is recognised by the market as potent and attractive,” he said.
The firm has been shifting its focus to private security work such as guarding celebrities as cutbacks threaten its government contracts, and was rewarded with 67 per cent revenue growth last year.
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