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News: Redflex posts $10M loss for H1 FY2015
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.
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Posted on Thursday, March 05 @ 09:59:17 UTC by Mike Barrett |
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