Provenco price surges over new deals

By PAUL BRISLEN

The share price of Eftpos terminal provider Provenco has surged after its recent successes in the international petroleum market and the company expects to do even better next year.

The share price ended the day up 7c at 78c.

The company's annual meeting yesterday was told that that it had secured a $7.5 million international contract. The new deal, with an unnamed existing customer, followed an earlier announcement that Provenco would supply outdoor terminals to Shell in the Asia-Pacific region in a deal worth up to US$9 million ($13 million).

"Provenco is the first company to attain certification in the new security standard that is being rolled out world-wide," chairman David Wolfenden said.

"This gives us a tremendous advantage in the market."

Provenco would not pay a dividend this year, although Wolfenden said it was a "close-run thing".

He said the board had discussed the issue at length but decided the money would be better used "pushing the business forward".