Petards, the AIM quoted developer of advanced security, communication and surveillance systems, announces that an important rail industry customer has renewed its existing contract for the provision of software licences, maintenance and support services.

This renewal, secured by Petards’ subsidiary RTS Solutions (RTS), is effective immediately and runs until June 2026, 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 software used on the UK’s rail network.

Commenting on the award, Raschid Abdullah, Chairman of Petards Group plc said:

“We are very pleased to have secured this contract renewal for this safety-related software application which RTS has delivered to its customer for many years.”

“This award, which follows the £360,000 SaaS software license renewal for another customer announced last month, further adds to the Group’s order book and supports its strong core of recurring revenues for the current and following year.”