Small but beautiful: Biometric security firm RCG sees profits soar 73%

PRE-TAX profits at RCG, the security systems company, soared by 73 per cent in the six months to 30 June.

RCG – which deploys biometric and radio frequency identification (RFID) systems – made profits of HK$323 million (£23m) in the first six months of the year, up from HK$187m in the same period last year.

Turnover mushroomed by 65 per sent to HK$984, with turnover rising by 69 per cent in south-east Asia, 133 per cent in greater China and by 30 per cent in the Middle East.

The company said it was taking a "cautious" view on its expansion plans for the United States, following the economic slowdown.

In a statement released yesterday, the company said: "The global marketplace for biometrics and RFID continues to grow strongly and the group is confident that its organic growth can be maintained.

"RCG will, dependent on criteria, consider further acquisitions as long as they will deliver shareholder value."

RCG Holdings – which has been listed on Aim in London since 2004 and is considering a placing on the Hong Kong stock exchange – has a market cap of about £150m.