Ava Group Jumps 55 Per Cent
Ava Group Jumps 55 Per Cent – Ava Risk Group, the Australian owner of BQT access products, FFT perimeter solutions and GJD alarm sensors, reported a 55 per cent jump in revenue for Q1 2023.
Record sales order intake during Q1 of $A7.8 million, including a 2-month contribution from GJD. This represents growth of 55 per cent on the prior year, and growth of 28 per cent excluding GJD orders.
Based on the existing order intake and expected sales pipeline conversion, management provides revenue guidance for the first half year in the range of $13.0 million – $15.0 million.
Ava, which is based at Mulgrave in Melbourne, Victoria, said acquisition of GJD Manufacturing, a leading UK based security technology supplier, in August provides Ava with a complementary product and technology portfolio with access to an established go-to-market capability in the U.K. and Western Europe.
“Ava Group has entered the new financial year with great momentum,” said Ava Group’s outgoing CEO Rob Broomfield. “It is pleasing to note record sales order intake in Q1 for the combined FFT and BQT segments.
“It is also pleasing to see the immediate impact that the addition of GJD has created, both in terms of sales order intake as well as complementing our product and technology offering. Our first commercial order for our conveyor monitoring solution from a leading conveyor manufacturer was a significant milestone and I am confident of additional conveyor monitoring orders during the first half of the financial year.”
Order intake during the quarter included $1.4 million relating to GJD for the 2-month period since 1 August 2022. Ava Group received orders of $6.4 million relating to the FFT and BQT divisions, which is the highest quarterly order intake since the onset of the COVID-19 disruption.
There was continued growth in the North American energy sector for the group’s Fibre Optic Intrusion Detection Systems solution, FFT, with an additional 2 sites contracted during the quarter.
Ava recently announced the retirement of Rob Broomfield and the appointment of Mal Maginnis as its new CEO. Maginnis will commence on the role from January 2023 and brings extensive experience as a leader of global technology businesses with more than 35 years of experience in the defence, security, safety and technology industries.
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