All posts in ASX Announcement

Ava Risk Group Limited (ASX: AVA) (Ava Group or Company) today announces the appointment of Michael McGeever as a Non-Executive Director.

Mr McGeever has over 35 years experience in the military, facilities and security sectors. Prior to his retirement in 2015, was the Managing Director and founder of Transguard Group LLC, a UAE based Security and Facilities Management company and one of the largest security companies in the world, employing 55,000 staff.  Prior to this he held senior positions in a range of security and facilities management focused companies.

Read more

AVA Risk Group Limited (ASX: AVA) is pleased to report that its Technology division, has been awarded a contract with the Australian Government for the supply of BQT smart readers to the Department of Human Services (DHS). The contract estimates that requirements will be for the provision of approximately 6,500 readers and additional associated equipment over a planned implementation period of approximately two years. The anticipated revenue from DHS over the contract period at the anticipated volumes is expected to be $1.8 million to $1.9 million. It is noted that the Australian Government reserves the right at its absolute discretion to vary the requirements and the implementation period.

Read more

Ava Risk Group Limited (ASX: AVA) (Ava Group or Company) today provides the following market update:

• Ava Group revenue is expected to increase by 62%-77% year on year.
• FY18 Ava Group revenue is expected to be circa $20.9m-$22.8m, which includes a $7.8m contribution from MaxSec Group Limited (ASX: MSP) (7 months of consolidation).
• Adjusting for one-off exceptional costs related to the takeover of MaxSec Group Limited, the Technology Division is expected to be Operating Cash Flow positive in FY18 and EBITDA positive from the mid-point of the forecast revenue range within this document.
• Adjusting for one-off exceptional costs related to the takeover of MaxSec Group Limited, the Ava Group is expected to make an EBITDA loss of between $0.1m and $1.3m. This represents a substantial improvement on the $7.5m loss incurred in FY17, whilst also incorporating the loss-making MaxSec Group Limited.
• The Services division remains on target for profitability during Q1 FY19.
• H2 group revenue was below internal expectations due to Q4 shipment timing delays that will push revenue recognition into 1H FY19. This will provide a strong foundation for growth within the 1H FY19, with H1 backlog expected to be circa $1.6m-$3.5m at 30 June 2018.
• Given the significant progress in FY18, the backlog of orders to be executed in Q1 FY19 and the significant short-term pipeline (decisions anticipated before the end of FY19) of +$280m, the outlook for substantial growth in FY19 is very positive.
• Q1 FY2019 is expected to deliver $9.8m-$11.7m revenue, comprising $1.3m-$3.2m of Q1 backlog and $6.5m of new technology division orders under late stage contract negotiations.

Read more

The Ava Group is reaffirming its commitment to conducting all its business with the highest ethical and socially responsible standards with the implementation of a new Responsible Sourcing Policy. This policy applies across the whole group but is particularly applicable to the group’s service division – Ava Global. As a world leading high security logistics and risk management service provider, Ava Global is dedicated to supporting the industries in which it operates to drive for full compliance for responsible sourcing processes.

Read more

The Ava Group is pleased to announce the appointment of Andrew Hames as Group Head of Extractives and Energy to drive the company’s strategy for global growth in the mining, oil and gas and renewable energy industries.

Read more