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The company is delighted to announce the following market update for the December quarter, Spectur is an Australian-based remote security monitoring systems and cloud-based technology solutions company. The company is showing a 90% increase in revenues for the half year to 31 December 2018 compared to the same six-month periods for the prior year and is delighted to announce that it achieved another million dollars plus revenue quarter with margins remaining steady at around 60%. As are recurring revenues, camera rentals are showing strong growth.
The company in the prior quarter released its new Shark Warning System. A solar-powered warning system that is controlled through the customerâs access to the Cloud Platform and is standalone. Spectur is in negotiations with the WA State government several and other WA local authorities. To provide joint solutions for beachside warning systems, Spectur is also collaborating in a partnership with drone technology company The Ripper Group.
The companyâs camera rentals increased over 400% over the same period and the total recurring revenues up over 200% over the same period. With further local government and now state government interest and an increasing number of customers in local government with sales growing in this area.
Across Australia, the company is also increasing its sales into local and state government bodies. A trial of 10 spectur systems, has been running by the ACT state government where CCTV monitoring is required in temporary or remote locations. Across the ACT as deterrents and to support police investigations, the units have been installed at crime hotspots. Further cameras will be rolled out in 2019, and the company is confident about it.
To help prevent illegal dumping and monitor unsafe driving in certain remote areas, in WA, the Department of Planning Lands and Heritage deployed an initial 14 cameras. On a regular basis, orders for new sites are now being received. To provide surveillance of electrical cabling at one of their facilities, a purchase order for 2 Thermal cameras and 1 HD5 camera have been issued by the City of Armadale in WA. Further orders are expected, upon their acceptance of Specturâs technology platform and its benefits.
To monitor their charity bins for theft, vandalism and illegal dumping, one of the countryâs leading charities, operating drop-off bins, have installed four cameras as part of a trial. When a decision is made regarding a national rollout of Spectur systems, his trial will run until the end of January.
Spectur Limited (ASX:SP3) traded up by 9.091% at $0.180 as at January 21, 2018. The stock had a performance change of -13.16% year to date.
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