Perimeter security contract to the value of $938,000 announced today
LNG security a growing segment, with Queensland projects delivering $2.1 million in orders to FFT over three years
FFT shares commence trading on ASX
Future Fibre Technologies Limited (ASX: FFT), a global leader in fibre optic intrusion detection systems, today announced it had signed a new perimeter security contract valued at $938,000 for the provision of services at a major Queensland LNG facility.
LNG security represents a growing segment for FFT, with today’s contract win bringing the total value of Queensland LNG security contracts to $2.1 million over three years.
FFT Chief Executive Rob Broomfield said: “We are proud to have secured this new contract on the eve of our ASX debut and believe this latest win speaks to the momentum in our business and the continued opportunities that exist in Queensland’s LNG sector.
FFT is committed to the ongoing development of sophisticated fibre optic sensing technologies, harnessing the talent of our highly skilled staff, and applying our innovative technology to protect high value assets and critical infrastructure around the globe.”
FFT expects that its FY2015 revenue will continue to be in line with its Prospectus forecast of $17.7 million, an increase of 34.5% over FY2014.
FFT shares today commence trading on the Australian Securities Exchange following an Initial Public Offering (IPO) of 30 million shares in the company (valued at 70 cents per share) to raise $21 million for growth capital. The company has an indicative market capitalisation of $84.4 million based on the offer price.
FFT is a leading developer and manufacturer of fibre optic perimeter intrusion detection security systems. Deployed by some of the most security conscious industrial, military and government organisations in the world, FFT’s advanced security systems:
- detect and locate perimeter intrusions;
- identify third-party interference on oil and gas pipelines; and
- protect sensitive data communications cables.
With hundreds of installations in more than 55 countries, FFT has established a solid reputation for delivering highly intelligent, reliable, and award winning intrusion detection solutions.