Croma Security: an asset–backed medium–term buy

Croma Security (LSE: CSSG) rose 82.5pp to a market cap of £11.45m and reported final results for the FY to June 2026. Revenue improved 13.8% to £10.97m, although EBITDA was lower at £1.04m from £1.17m. Two businesses were acquired during the year taking the total number of Security Centres to 17 with 1.4% increase in net assets to £15.94m. The net cash increased to £4.91m from £4.33m and the dividend up to 2.5p from 2.4p, while the EPS was lower at 3.98p from 5.71p on PBT of £0.55m form £0.766m. This gives a current P/E of 20 and a 3.0% yield. The final payment was made from the £6.5m disposal...