AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
On Tuesday, surveillance firm Petards (LSE:PEG) announced that it has secured orders totaling £750,000 for its eyeTrain software, support services, and QRO ANPR systems.
The company revealed that its Petards Joyce-Loebl division has received over £500,000 in orders from two train manufacturers for its eyeTrain software. Approximately a quarter of the revenue from these orders is anticipated to be recognized in the current financial year. The eyeTrain software, known for its advanced rail safety and operational efficiency features, continues to attract significant interest from the rail industry.
In addition, Petards disclosed a £250,000 order under a framework agreement with a UK police force for its NASBox roadside Automatic Number Plate Recognition (ANPR) systems. This order, part of Petards’ QRO division, involves the supply and installation of the ANPR systems, scheduled for completion and installation during the fiscal year 2024.
Raschid Abdullah, Chairman of Petards, expressed satisfaction with the new orders, emphasizing the role of Petards' technologies in enhancing safety, efficiency, and operational benefits across the UK's rail and road networks. The company’s innovative solutions in both rail and road surveillance are designed to meet the growing demands for security and efficiency in these critical infrastructure sectors.
Despite the positive news of new orders, Petards’ shares experienced a decline of 3.71% to 7.22p as of 1020 BST. This drop reflects the market's reaction to the latest developments, highlighting the often volatile nature of stock prices despite favorable business announcements.
Petards continues to focus on expanding its technological offerings and strengthening its position in the surveillance market. The recent orders are expected to contribute positively to the company's performance and reinforce its reputation as a key provider of advanced surveillance solutions for critical infrastructure. As the company moves forward with these projects, attention will remain on how these developments impact its financial performance and market positioning.
