7th Apr 2015 07:52
LONDON (Alliance News) - CCTV and monitoring systems company 21st Century Technology PLC on Tuesday said it has won two contract extensions on its deal to supply CCTV systems for a leading UK rail franchise worth a total of GBP1.3 million.
The company said the first extension is a GBP1.1 million increase to its contract to supply and install in-carriage CCTV systems across the entire rail fleet of the customer, which it did not name.
21st Century expects the majority of the income from the deal to accrue in the financial year to the end of December 2015. It marks the first in-carriage contract win for the company in the rail industry, following years of the company developing products for buses.
The other contract extension, worth GBP0.2 million, is for additional forward-facing CCTV systems for the same customer's fleet of trains.
"These orders totalling GBP1.3 million are an important breakthrough for our rail division. They firmly establish the business in this important and growing sector and are a testament to the strengthening relationships we are forging with our customers," said 21st Century Chief Executive Russ Singleton.
Shares in the company were up 2.7% to 5.65 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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