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Petards lands contract with unnamed UK defence systems contractor
4th Sep 2019 08:27
(Sharecast News) - Security and surveillance firm Petards has landed a £1.1m contract with a "major" UK defence systems contractor.
Petards' new contract win will see the group provide its unnamed client with electronic countermeasures equipment for use on a Ministry of Defence programme.
The AIM-listed group will manufacture and supply equipment that will form part of an integrated defensive aids suite on military aircraft. Most of the equipment was expected to be delivered in the second half of 2020.
Chairman Raschid Abdullah said: "We are delighted to have been reselected for the next phase of this electronic countermeasures project which will serve to protect aircraft and the lives of the service personnel that fly in them.
"The company has been supplying and servicing such systems for many years and we believe that this is indicative of the value that our customer places on our expertise in this specialist field".
As of 0830 BST, Petards shares had climbed 6.60% to 21p.
Petards' new contract win will see the group provide its unnamed client with electronic countermeasures equipment for use on a Ministry of Defence programme.
The AIM-listed group will manufacture and supply equipment that will form part of an integrated defensive aids suite on military aircraft. Most of the equipment was expected to be delivered in the second half of 2020.
Chairman Raschid Abdullah said: "We are delighted to have been reselected for the next phase of this electronic countermeasures project which will serve to protect aircraft and the lives of the service personnel that fly in them.
"The company has been supplying and servicing such systems for many years and we believe that this is indicative of the value that our customer places on our expertise in this specialist field".
As of 0830 BST, Petards shares had climbed 6.60% to 21p.