Contract Extension
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Petards, the AIM quoted developer of advanced security and surveillance systems, announces that a key customer has extended an existing contract for the provision of software licences, maintenance and support services.
This extension, secured by Petards' subsidiary RTS Solutions (RTS), is effective from June 2024 and runs until June 2025, the value of which is over £0.3 million.
Under the terms of the contract RTS will continue to provide software licences, maintenance and third line support in respect of its real time failure and incident management system that supports the UK's rail infrastructure.
Commenting on the award, Raschid Abdullah, Chairman of Petards Group plc said:
"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."
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