Published on the 23/01/2014 | Written by Newsdesk
Wynyard Group, which provides threat assessment and advanced crime analytics software, has seen its highest share prices ever following a number of high-profile announcements this month…
At the beginning of January the company, which is a discrete business unit of Jade Software, announced it had won a contract for its Anti-Money Laundering (AML) software-as-a-service with GCC Exchange, a fast growing UAE money exchange. The UAE is known to be amongst the leading countries seeking strict compliance of strong Anti-Money Laundering systems in an effort to protect against the possibility of money laundering and terrorist financing.
Two weeks later it also announced it had signed a global partnership agreement with United Kingdom-based Arquebus Solutions to deliver an advanced gun crime intelligence solution for the law enforcement market. The partnership’s advanced gun crime intelligence solution will make use of Arquebus’ industry and consultancy expertise and Wynyard’s advanced crime analytics software to help law enforcement agencies tackle the challenges faced in the analysis, prevention and detection of firearms related offences.
In response the share price leapt to an all-time high of $2.950 compared to a consistent $1.150 to $1.200 across the previous year. The market seems to be optimistic about the company’s future international growth prospects in the UK, Europe and the Middle East as well as in its own backyard.
Amongst the excitement of these deals Wynyard Group also announced that it has delivered on its 2013 revenue target. “Our IPO prospective financial information forecast $21.5 million revenue in the year to 31 December 2013. Our unaudited results indicate we will meet that target and will report more than 62 percent revenue growth in the 2013 year,” said Wynyard Group managing director Craig Richardson.
“We are starting the new year in good shape. The number of new opportunities materially increased in the fourth quarter of 2013 and we took steps in November to build capacity to qualify and service this increased demand.”
Wynyard Group’s prospective financial information forecast $27 million revenue in the year to 31 December 2014. The board plans to continue to review the 2014 and 2015 business plan and targets during the first quarter of this year, and it will be interesting to see what these consultations yield. More details for the year just past will be available in the 2013 full year results to be announced on Monday 24 February and its annual report available to shareholders at the end of March.
