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Dmatek to beat forecasts

Created:
16 July 2008
Written by:
Malar Velaigam

Electronic monitoring technology provider Dmatek expects to beat forecasts and post record revenues exceeding $26m (£12.9m) for the first half of 2008. That's because of strong growth across all regions in its law enforcement business. Trading in Asia Pacific has gained from 'exceptional growth' in New Zealand and a new contract in Singapore, while growth in the US and Europe is also encouraging. The eldercare business is progressing more slowly than expected, but interest in house arrest and inmate tracking solutions is picking up.

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IC VIEW:

Buy

The shares remained flat at 99.5p and now trade at nine times KBC Peel Hunt's 2008 forecasts despite the good news. Dmatek is a market leading player with good earnings visibility, and its shares remain a buy.

Last IC view: Buy, 112p, 7 Mar 2008

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