Security technology specialist Petards says a reduced cost base and strong trading across its traffic products division has helped it return to profit.
Announcing full year results for 2021, the Gateshead-based firm said operating profit was £570,000, a turnaround from 2020's operating loss of £1.14m, while revenue increased from £13m to £13.5m.
It said the performance was achieved against a backdrop of continued effects of the pandemic on government spending and the "state of flux" in the UK rail industry, including the planned introduction of the state-owned Great British Railways.
