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Redflex posts 10M loss for H1 FY2015
Article by: Mike Barrett
Date: 5 Mar 2015
Redflex posts a $10,000,000 loss (Australian Dollars) for the first half of financial year 2015. The Australian speed camera manufacturer has been severely affected by the problems in Chicago. The loss also reflects the "Impairment of the value of the Ohio and New Jersey related assets following, respectively, the recent passage of legislation and the expiration of a five year pilot program that decreased the viability of red light systems in these US states."
In the mean time Redflex have opened offices in Slough, UK and have won three contracts to supply the HADECS cameras. These contracts are expected to bring in $4,200,000. Additional income will then be realised in the form of maintenance contracts that will start later this year.
With the US subsidiary representing over 60% of the Redflex Group's income the concern for the long term viability of the Red Light Camera and Speed Camera systems is paramount. Redflex are diversifying into other areas of automated enforcement, which may see less public dissatisfaction. Student Guard is a system that captures images of drivers violating school bus stop signs, helping to assist in the safety of children.
This $10M is presented as a temporary blip in the accounts that will recover. However with over 60% of the business relying on one volatile market the situation could change dramatically dependant on the whim and influence of US law makers.
Click here for the full report on the Redflex corporate site.
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| Comments
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 Posted by Davidonly on Thu Mar 05, 2015 7:58 pm |
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Good riddance should this bunch of parasites go bust 
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| Posted by K13ehr on Fri Mar 06, 2015 7:47 am |
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Unfortunately we need to have speed cameras, because of the moronic attitude to speed limits, we all stray over sometimes, not surprising with so many distractions, but some just drive how they like regardless of any limits.
That's not to say that the siting of some could have been better, you can almost here the kerching as you drive past them.
What I find odd is that there seems to be more of them in areas where poorer and usually people from distant lands live, why is that, same goes for speed bumps, is this to make them feel at home or something, Leeds and Bradford are awash with them.
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| Posted by M8TJT on Fri Mar 06, 2015 8:07 am |
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Perhaps it's because that's where most of the speeding is done and/or the council need to supplement their budget?
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| Posted by tonylathes on Fri Mar 06, 2015 10:27 am |
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What I find odd is that there seems to be more of them in areas where poorer and usually people from distant lands live, why is that, same goes for speed bumps, is this to make them feel at home or something, Leeds and Bradford are awash with them.
Brilliant! - and may the speed-camera company, with their ill-gotten gains, crash and burn.
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| Posted by sussamb on Fri Mar 06, 2015 10:45 am |
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I'd rather have speed cameras slowing motorists down, than see them 'crash and burn' whilst invariably killing or seriously injuring others in the process.
More the merrier as far as I'm concerned, far too many folks out there who drive far faster than their driving ability allows them to do safely 
Where there's a will ... there's a way. |
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| Posted by Kremmen on Fri Mar 06, 2015 12:07 pm |
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How very true that is. The driving in west London is absolutely horrendous. No such thing as driving in a line round here as it's like a racetrack with undertaking, wrong lane at traffic lights then launch control to try and avoid getting trapped.
Satnav:
Garmin 2599 LMT-D (Indoor test rig)
DashCam:
Viofo A119 V3
Car Average MPG :
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| Posted by Davidonly on Sat Mar 07, 2015 5:26 pm |
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| K13ehr Wrote: | Unfortunately we need to have speed cameras, because of the moronic attitude to speed limits, we all stray over sometimes, not surprising with so many distractions, but some just drive how they like regardless of any limits.
That's not to say that the siting of some could have been better, you can almost here the kerching as you drive past them.
What I find odd is that there seems to be more of them in areas where poorer and usually people from distant lands live, why is that, same goes for speed bumps, is this to make them feel at home or something, Leeds and Bradford are awash with them. |
We don't 'need' speed cameras. There is still no evidence whatsoever that they reduce road deaths. We need engineering solutions and better driver assessment and training plus more actual policemen to look for actually dangerous behaviour.
I'm only paying a fee for the PGPS database because of speed cameras and the ever reducing (already typically far too low) speed limits being set now.
The speed camera is a tool in a very corrupt and cynical 'industry'. There is nothing gained from the vast majority of the deployment of these devices in terms of 'safety'. Only those extracting value from the system gain.
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| Posted by DennisN on Sun Mar 08, 2015 1:02 pm |
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We really don't need speed cameras for us. We only need them for them. They shouldn't be allowed to have cars. If it wasn't for them, driving would be a blast, a pleasure and a very short time occupation, because we'd be able to get there so much quicker.
Dennis
If it tastes good - it's fattening.
Two of them are obesiting!! |
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| Posted by potamus29 on Mon Mar 09, 2015 9:59 am |
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| DennisN Wrote: | | We really don't need speed cameras for us. We only need them for them. They shouldn't be allowed to have cars. If it wasn't for them, driving would be a blast, a pleasure and a very short time occupation, because we'd be able to get there so much quicker. |
I agree entirely. None of them know how to drive, they always drive too slowly, or too fast, or just too..... Then they park and open their doors right in front of us and then get the baby out in the road. And the cyclists! Do I digress? Sorry. Keep the roads clear just for us.
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| Posted by Kremmen on Mon Mar 09, 2015 10:05 am |
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You may chuckle but a few decades ago driving had some pleasure and drivers were courteous.
Move forward to today and driving is quite a hassle and dangerous with very bad and discourteous drivers.
If it wasn't for cameras now that traffic police are like hens teeth it would be a very dangerous place to be.
Satnav:
Garmin 2599 LMT-D (Indoor test rig)
DashCam:
Viofo A119 V3
Car Average MPG :
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