Petards Group PLC AGM Statement (4375Y)
09 Mayo 2019 - 1:00AM
UK Regulatory
TIDMPEG
RNS Number : 4375Y
Petards Group PLC
09 May 2019
9 May 2019
Petards Group Plc
("Petards" or the "Group")
AGM Statement
Petards, the AIM quoted developer of advanced security and
surveillance systems, will hold its AGM this morning at 11.00 a.m.
At the AGM, Petards Chairman, Raschid Abdullah will make the
following statement:
"Over the past few years, the Group has made considerable
investment in its businesses, in particular that of rail where the
Group's eyeTrain security, surveillance and other systems now
feature on four of the major train builder's current platforms,
Bombardier, Hitachi, Siemens and Stadler as well as being
retrofitted onto existing rolling stock being operated by UK train
operating companies (the TOCs').
"This has been achieved through a focus on developing advanced
and innovative software systems for on-board safety critical
applications, coupled with the implementation of modular product
design enabling a much higher level commonality of software and
standardised components with resulting operational and cost
efficiencies.
"Whilst over this period this investment has required
substantial allocation of funds, the rate of required investment
has been tapering off since Q/4 - 2018. This has continued to
reduce as software engineering activities move from the development
phase to the operational support phase, a process that it is
expected will be substantially complete at the half year stage.
"In 2016 we acquired QRO Solutions ('QRO'), a provider of
in-vehicle and Highways ANPR speed enforcement systems and
complementing back office software solutions and field based
support, primarily, but not exclusively, to law enforcement
agencies. QRO has adapted well to being a member of the Group,
performing well in 2018 including it entering into two framework
agreements with UK police forces. 2019 has got off to a good start
as it implements its organic growth strategy built on introducing
new products and services to meet increased customer
requirements.
"Last year, we also acquired RTS Solutions ('RTS'), a provider
of track side software for safety critical support systems, this
time funded by bank debt.
"The board views RTS as having considerable potential to expand
its business.
"While organic growth features as an essential element of
building and developing the Group, the board continues to view
selective acquisitions as being the best way to accelerate the
Group's presence and growth in its chosen areas of activity.
"The year has started well with performance in the first three
months being in line with budget. With 2019 order coverage of
GBP14.6 million, which includes revenue to April, and forecast
levels of transactional business for the remainder of the year
being in line with the board's expectations, management's focus
continues on building on the current order book for 2020/21 where
it is in discussions with its customers over new business across
the Group, in particular for Rail Technology where a number of
significant new contracts are in the offing."
Enquiries:
Petards Group plc www.petards.com
Raschid Abdullah, Chairman Mb: 07768 905 004
WH Ireland Limited, Nomad and www.wh-ireland.co.uk
Joint Broker
Mike Coe / Chris Savidge Tel: 0117 945 3470
Hybridan LLP, Joint Broker www.hybridan.com
Claire Louise Noyce Tel: 0203 764 2341
claire.noyce@hybridan.com
Square 1 Consulting
David Bick Tel: 07831 381 201
david.bick@square1consulting.co.uk
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMAPMRTMBBMBPL
(END) Dow Jones Newswires
May 09, 2019 02:00 ET (06:00 GMT)
Petards (LSE:PEG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Petards (LSE:PEG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024