Spectra Systems Corp on Thursday said ‘one of its long-time central bank customers for banknote security materials’ has placed a new order.
Shares in the Providence, Rhode Island-based authentication technology provider were up 3.5% to 186.26 pence each in London on Thursday around midday.
It said the unnamed customer placed a new order during the financial year ending September 30, 2024, as part of its five-year contract, which was entered into in 2019.
Spectra said that consumables order is ‘the largest in the company’s history’ and is around 60% larger by value than the order for the last financial year.
Chief Executive Officer Nabil Lawandy said: ‘I am very pleased that we have received such a large order incorporating the 22% price increase which was agreed last year when we solved our customer’s supply chain concerns. This order makes a meaningful contribution to achieving our expected profitability this and next year.’
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