Australian-based remote security monitoring systems company Spectur (ASX:SP3) has witnessed strong growth in sales and rentals with first seven months of FY18 have now exceeded revenues for FY17.
The ASX-listed company’s HD4 security camera system has experienced strong sales and rentals growth as it aims to become the supplier of choice in the solar powered security surveillance market.
January 2018 sales continued on trend despite this generally being a softer period for the company.
As a result of the stronger than expected month, Spectur’s revenues across the first seven months of FY18 have now exceeded revenues for FY17, demonstrating the growing benefits of Spectur’s east coast expansion.
Meanwhile, the company has appointed Gary Pennefather as its Engineering Manager – Products and Systems.
Mr Pennefather brings extensive experience in technology businesses as a founder, senior executive and director across a range of industries.
He has been involved with a number of companies that have grown from early stage R&D to multimillion dollar enterprises, both in Australia and the US. Most recently he was the CEO of iCetana, a video surveillance and analytics company.
Meanwhile, Andrew Hagen will lead the go-to-market strategy for Spectur’s innovative remote monitoring and detection products for the oil and gas industry, on a consultancy basis.
Mr Hagen has substantial experience in launching new products and successfully taking them to market, both nationally and internationally. His experience spans business development, management, marketing and sales and he was recently co-founder and chief executive officer of Cycliq Group Ltd (ASX: CYQ) before joining Spectur as a non-executive director.
We have reached an exciting point in the advancement of our new technologies.” Spectur Managing Director Peter Holton said.
“We have also been recruiting aggressively to ensure we have the right team in place to execute on the development and commercialisation of our new technologies and the combination of Mr Hagen and Mr Pennefather working alongside our existing Technology and Development Manager, Dr Le Marshall, is very exciting.
At the same time, we continue to see strong sales and rental growth across our operations which is a testimony to the hard work our existing team has put in recently.”
Shares in Spectur remain unchanged at 31c in Friday afternoon trading.