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IN BRIEF: Petards shares jump after securing key contract extension

14th Feb 2024 11:09

Petards Group PLC - London-based developer of security and surveillance systems - Secures contract extension with an unnamed "key customer" for the provision of software licences, as well as maintenance and third-line support services. The contract extension, secured by Petards subsidiary RTS Solutions Ltd and valued at GBP300,000, will become effective from June and runs until June 2025.

Petards Chair Raschid Abdullah says: "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."

Current stock price: 6.35 pence per share, up 25% in London on Wednesday morning.

12-month change: down 45%

By Hugh Cameron, Alliance News reporter

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