Ava Risk Group Limited (ASX: AVA) (Ava Group or Company) is pleased to provide the following market update with respect to its Services Division, Ava Global DMCC:
- Ava has been awarded a 12 month contract with a Central Bank for the secure transportation of banknotes which will generate estimated annual revenue of $2.1m
- Additional new service agreements also executed with three (3) Commercial Banks, and one (1) other Central Bank
- These new agreements have helped increase Ava’s total addressable client spend now in Q4 FY2020 to in excess of $145m, an increase of 26% over the prior period.
It is estimated that the major buyers of secure logistics services spend in excess of $1bn per annum. With the recent consolidation of service providers in the secure logistics sector, Ava is expecting to continue to add new customers, and further increase its share of addressable client spend.
Chris Fergus, CEO Services Division, Ava Global, commented “Whilst the last few months have presented significant logistical challenges, Ava has been able to offer its existing clients a range of new and bespoke solutions ensuring their business continuity, whilst also continuing to increase our addressable market through new client agreements. During this period, our reputation as an innovative and leading service provider has continued”.
For further information, please contact:
| Scott Basham, CEO & Executive Director | Leigh Davis, CFO & Company Secretary |
| Ava Risk Group Ltd | Ava Risk Group Ltd |
| scott.basham@theavagroup.com | leigh.davis@theavagroup.com |
| +61 3 9590 3100 | +61 3 9590 3103 |
Approved for release for and on behalf of the Board of Directors by:
Leigh Davis
Company Secretary
About the Ava Group
The Ava Group, comprising world leading technology divisions Future Fibre Technologies (FFT) and BQT Solutions (BQT) is a market leader in the provision of risk management services and technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.
The Group features a range of complementary solutions including intrusion detection for perimeters, pipelines and data networks, biometric and card access control as well as the secure international logistics (Ava Global) and storage of high value assets. Through decades of innovation, the Ava Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.
Our business truly serves a global market, with our knowledgeable team spread across six continents, providing market and industry expertise directly to customers. With thousands of sites protected, the Ava Group is proven to deliver first class services and technologies that surpass the expectations of our partners and end users.
Forward Looking Statements
Information in this release is for general information purposes only. Certain statements in this document regarding the Company’s financial position, business strategy and objectives, contain forward-looking statements (rather than being based on historical or current facts) and as such, are not able to be verified.
All forward-looking statements are based on the current views of the Company’s management as well as reasonable assumptions made by, and information currently available to the Company’s management. Forward-looking statements are inherently uncertain and must be read accordingly. There can be no assurance that some or all of the underlying assumptions will prove to be valid. If assumptions are invalid this is likely to have an impact on the accuracy of the statement itself.
All data presented in this document reflects the current views of the Company with respect to future events. Forward-looking statements are subject to a variety of risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. Forward looking statements are also subject to external matters outside the control of the Company.
To the maximum extent permitted by law, the Company, its officers, employees and agents do not assume any obligation to release any updates or revisions to the information (including any forward looking statements) in this presentation to reflect any change to expectations or assumptions; and disclaim all responsibility and liability for any loss arising from reliance on this presentation or its content.