Proactive Investors - Run By Investors For Investors

XTEK director increases stake through on-market purchase

Boettcher now holds more than 5.26 million shares in XTEK.
XTEK director increases stake through on-market purchase
The company is on track to achieve its revenue guidance

XTEK Ltd (ASX:XTE) director Uwe Boettcher has demonstrated his confidence in the company’s strategy by increasing his shareholding.

READ: Xtek poised for rapid near-term growth following major contract wins

Boettcher has made an on-market purchase of 16,151 shares for a total consideration of about $9,368.

He now holds more than 5.26 million shares in XTEK.

XTEK had achieved record revenue for the half-year ended 31 December 2017, partly driven by the supply of Explosive Ordinance Disposal (EOD) robots.

READ: Xtek on track to meet guidance with record first half revenues and $42 million order book

The order book underpins management’s robust growth expectations with the company on track to achieve revenue guidance of between $11 million and $18 million for FY2018.

XTEK is well placed to secure further contract wins for the remainder of FY2018, supplying defence equipment and tactical weapons for the Australian Defence Force and other law enforcement agencies.

View full XTE profile View Profile

XTEK Ltd Timeline

Related Articles

Tavistock
May 29 2019
"We aim to continue to improve the group's profitability and manage a regular and growing dividend stream for the benefit of our shareholders," said CEO Brian Raven
Artist Michael Foran photographs the burning US Twin Towers after the 9/11 attacks
April 10 2019
The information sharing platform archTIS commercially launched this week was inspired by the threat of the 9/11 attacks in the US and is continually relevant amid global tensions.
immotion vr racing game
February 06 2019
The out-of-home VR hardware and content maker turned over more than £1mln in the second half of 2018 with ‘only’ 150 or so headsets in operation, but it wants that figure to climb to over 1,000 by the end of this year

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use