Sepura cashing in on exports surge
Digital radio technology specialist Sepura reports a second half surge in export orders.
The Cambridge company’s share price hit the 100p mark, up over 1.52 per cent, on early UK trading as CEO Gordon Watling posted a robust trading update.
Positive momentum charted in the interim results has continued into the second half and the group has secured business across a range of market sectors in both core and emerging markets, he said.
The new deals include “significant orders” from Russian, German and Dutch public safety users plus orders for a total of 2,500 ATEX radios, primarily for oil & gas customers in the Middle East.
Watling added that the integration of 3T Communications AG continued to progress in accordance with the group's plans with further combined contract wins in Europe and the Middle East.
Sepura has already repaid a portion of the borrowings drawn down to fund the acquisition of 3T earlier in the year.
Watling said that while trading remained seasonally weighted to the second half of the year, Sepura was seeing continued robust demand in the current quarter “which gives the group a solid platform from which to achieve the market's expectations for the full year.”