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.