Share
That's a very bullish announcement. $6 million from SCS Connect is impressive given they were only approved as a supplier on 6th December. When this is rolled out globally as is the intention, the cash flow will drive revenue way up. This is as expected given the company anticipates continued growth in revenue at around about this year's level, which was an impressive 44%. Given that revenue is derived in USD and that the NZD has fallen to its lowest levels in many many months, this will also boost revenue. What other IOT (internet of things) technologies they have in the pipeline remains to be seen but SCS Connect is only the first they are rolling out.
I'm not sure why they haven't announced the name of the global brand, perhaps not to alert competitors but my understanding from the AGM is that there aren't many companies that come bigger than this one.
