Petards Group (AIM:PEG), the AIM-listed developer of security, communication and surveillance systems, said its rail subsidiary Petards Joyce-Loebl has won orders worth £0.7 million from a global train builder.
The contract covers equipment supply, engineering services and a three-year software-as-a-service (SaaS) deal to run Petards' eyeBoS back-office software on a further train fleet.
Equipment deliveries are expected to complete in the second half of 2026, when first revenues from both the engineering services and eyeBoS are also due.
The engineering services element is scheduled to run through to completion during 2027.
Chairman Raschid Abdullah said the award comes from a long-standing customer and adds to the order book for both current and future years, supporting an improvement already under way in Petards' rail trading.
"It was particularly pleasing to have added another train fleet to those already benefitting from operating Petards eyeBoS back office software," he said.
eyeBoS gives train operators real-time and historical data on rail vehicle status, usage and condition, aimed at cutting service delays and helping operators respond to incidents.
Petards Rail operates out of a Gateshead facility employing 45 engineers, technicians and support staff.
News Intelligence what this means for the company
Petards Joyce-Loebl has won a £0.7m rail contract from an existing customer covering equipment, engineering services, and a three-year SaaS licence for its eyeBoS back-office software. Revenue will flow from H2 2026 through 2027, extending the order book visibility that stood at £9.6m at 30 June 2026; this contract represents roughly 7% of that prior book and adds recurring SaaS revenue to a business already showing trading improvement in rail.
The award demonstrates continued customer traction for eyeBoS on new train fleets and validates the SaaS model as a revenue stream beyond one-off equipment sales. At £0.7m it is material enough to move the needle on near-term visibility, though the phased delivery and engineering schedule through 2027 means cash impact will be spread.
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