MD reveals his ‘best start to a financial year’ is happening now

Australia is a little safer than it was in FY22 with ASX-listed Spectur this week announcing wins in beach safety, new tech ready for market, and a record start to revenue and sales in FY23.

Australia is a little safer than it was in FY22 with ASX-listed Spectur this week announcing wins in beach safety, new tech ready for market, and a record start to revenue and sales in FY23.

“This is the best start to a financial year I have had at Spectur,” MD Gerard Dyson said, adding that key staffing roles had been filled, staff retention was steady and morale was high.

“We are delivering record sales and revenue ahead of our internal budget and substantially up on FY22. The pipeline remains at elevated levels, and we see no slowing in the market in the near term.”

Dr Dyson suggested the combination of record sales and revenue in July and August 2022, as well as its promising pipeline, may be indicative of a record Q1 FY23 and ongoing growth. 

Spectur – which makes communities safer in remote areas with its surveillance solution that can spot a problem, make a decision and take an action, all without a cabled connection – has been awarded two state government contracts to provide beach community safety solutions.

The Office of Local Government NSW, as part of the Smart Beaches Project, ordered 15 ‘shark camera’ variants, while the Department of Planning Industries and Regional Development in WA ordered four ‘shark alert’ systems, with both contracts including 12 months of subscription.

Dr Dyson said these contracts are strategically important as Spectur (ASX: SP3) continues to roll out beach warning solutions across Australia – a country encompassed by 12,000 beaches.

Spectur also announced it is advancing its hardware platform to improve modularity, ease of assembly and prepare for increased production and assembly inhouse and by third-parties.

As part of this progress, Spectur is concluding trials of the mid-life update to the premium STA6 platform, the STA6s, which introduces the ability to use third-party ‘out of body’ camera systems.

There are several benefits to this, including increased flexibility in camera sourcing (to mitigate supply chain issues) and adding the breadth to bring in a broader range of specialised cameras for tasks such as number plate recognition.

The STA6s product is due to launch this month, while the STA7 – a material step change in product design, further underpinning growth expectations – is expected in the market in 2023.

In addition to core platform advances, Spectur is also in advanced prototyping of a new modular power system. The company has lodged an application for registered design of this new system, which is expected to be formally launched in Q2 FY23.

Spectur MD Gerard Dyson will be holding an investor briefing tomorrow, Thursday 15th September, at 12pm (AEST), where he will provide a company update and discuss the developments in more detail. Click here to book in. 

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Spectur Limited and will receive fees for its services.

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