Back to previous section

Petards' RTS subsidiary secures contract extension

Petards Group

Security and surveillance systems group Petards has scored an extension to an existing contract for the provision of software licences, maintenance, and support services.

Petards Group

14 February 2024 11:29:35

Source: Sharecast

Petards said on Wednesday that the extension, secured by its' RTS Solutions subsidiary, was effective from June 2024 and runs until June 2025, with a total value of more than £300,000.

The AIM-listed group noted that, under the terms of the contract, RTS will continue to provide software licences, maintenance and third-line support in respect of its real-time failure and incident management system that supports the UK's rail infrastructure.

Chairman Raschid Abdullah said: "We are pleased to have secured this contract extension for this important safety-related software application which RTS has delivered for many years.

"This award adds to RTS's order book and supports its strong core of recurring revenues for the current and following year."

As of 1125 GMT, Petards shares were up 10.78% at 5.65p.

Reporting by Iain Gilbert at Sharecast.com

N/A

Isin: N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

IWeb is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.