Security software firm Wynyard Group sees annual revenue growing up to 73 per cent this year as it pursues contracts and gets closer to finalising a major distribution agreement in law enforcement markets.
The Auckland-based company expects revenue of between $40 million and $45 million in 2015, up from $26 million last year.
The company has signed an undisclosed number of new contracts and extensions in the first half of this year, and expects to finalise "a significant national security solution" for delivery in the second half of 2015.
The shares were up 5.75 per cent at $1.84, and the stock is rated an average "hold" based on two analyst reports compiled by Reuters, with a median target price of $2.23.
The company is holding its annual meeting in Auckland today, where shareholders will vote on electing Richard Twigg and Louis Grever to the board. They will also vote on whether to issue 216,000 shares to Transformation Services at $1.92 apiece for consulting services provided by the firm associated with former Wynyard director Herb Hunt.
