Business
Period End Trading Update
Period End Trading Update.
About this update from Petards Group Plc
[{"type":"text","content":"\n Petards Group PLC\n25 March 2008\n\n\n25 March 2008\n\n\n Petards Group plc ('Petards' or 'the Company')\n\n\n Pre-close period strategic review and trading update\n\n\nPetards, the AIM quoted developer of advanced surveillance systems, provides the\nfollowing update in respect of the year ended 31 December 2007, current trading\nand progress in its strategic review prior to entering into the close period in\nrespect of the Company's preliminary results for the year ended 31 December\n2007.\n\n\nThe Board expects to announce its preliminary results for the year ended 31\nDecember 2007 in mid-May and expects to report at that time results in line with\nthe Company's trading update of 20 December 2007. It also expects to report a\nnet debt position that is lower than the £3m indicated last December. The Group\nis in talks to re-negotiate the capital repayment schedule of its term loan\nfacilities and its bankers have indicated that it is their intention to renew\nits overdraft facilities at their existing levels.\n\n\nTrading update\n\n\nWe are pleased to report that following the delays in order placement\nexperienced in 2007, many of the orders concerned have since been placed. In\nthe six months ended 28 February 2008, the Group received orders for its\ncontinuing business (excluding UK Government and Commercial software) totalling\n£12.5m. It is expected that the majority of these orders will be delivered\nduring the course of 2008.\n\n\nIn addition to those announced last December, we have been awarded the\nfollowing:\n\n\n\n • A contract worth almost £1m to supply ProVida in-car Automatic Number\n Plate Recognition (ANPR) systems to a major overseas customer.\n\n\n • Orders together worth in excess of £1m for the supply and installation of\n eyeTrainTM on-board digital surveillance systems to Bombardier\n Transportation and for passenger information displays to Alstom Belgium.\n\n\n • Orders for £0.75m from the Ministry of Defence for radio systems and\n electronic countermeasures equipment to be fitted to rotary wing aircraft.\n\n\n • A $0.9m order for the UVMSTM video management system from a US casino\n customer. This is the first major order to be received since the inception\n of the Group's exclusive licencing agreement with BAE Systems Integrated\n System Technologies (BAE) and follows the award of a $...