12 March 2012 – contract win

The company has been awarded a contract by Arriva in Sweden to supply on board CCTV, passenger counting systems, depot infrastructure, related maintenance and software hosting for a substantial part of a fleet of public transport vehicles operated by Arriva in Stockholm.  The value of this is £3.3m and £2.7m of the contract value will be delivered in the current year.  Arriva have also contracted for a further one year’s maintenance and five years’ software hosting.  There may be further scope for collaboration, which is very positive.

Final results are just weeks away and there is a good chance that a special dividend will be declared.  We continue to rate the shares as a BUY.