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Future Fibre Technologies reaffirms revenue guidance

Secure Point controllers will be used to protect more than 50 utility sub-stations in India.
Picture of security fencing
Sales guidance was reaffirmed and earnings are expected to increase in fiscal 2018

Future Fibre Technologies Ltd (FFT) (ASX:FFT), a developer of fibre optic perimeter intrusion detection systems, has secured a new order valued at $560,000.

FFT Secure Point controllers will be used to protect more than 50 utility sub-stations operated by one of India’s largest power distribution companies.

The substantial increase in essential services infrastructure in India, particularly over recent years has created a greater need for investment in security technology and services.

FFT is continuing to grow its presence in the region, and from a technology development perspective, the protection of major infrastructure such as power stations is a focus.

FFT continues to be awarded contracts across the industrial, military and government sectors

The negotiation of this contract comes less than a month after the company received a $642,000 order from the US Correctional Centres for the provision of security fencing.

This is an existing client which is a state-based operator of multiple correctional centres.

The company expects the group to continue to roll out FFT products across its other prison facilities.

FFT reaffirms revenue guidance in a range between $18 million and $21 million

A run of contract wins leaves FFT on track to achieve previously advised fiscal 2018 sales and revenue guidance in a range between $18 million and $21 million.

Excluding the operating performance of newly acquired MaxSec Group, the company expects to deliver an uptick in both cashflow and underlying earnings.

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