Period-end trading update and Contract award
07 February 2007
Petards, the AIM quoted developer of advanced surveillance systems, provides the following update to progress in respect of the year ended 31 December 2006.|
The Board reports an increasing momentum in the Group's recovery and that it expects to report a full year operating profit slightly ahead of market expectations. It also expects to report both a lower than expected net debt position and a smaller than expected full year pretax loss after charging exceptional items and interest.
The Board is pleased to announce that Petards Limited has won a contract worth in excess of £3m to provide BAE SYSTEMS with software and hardware as part of a recently awarded UK Government project. The contract includes support and maintenance for a period of 5 years.
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