Redflex awarded 5-year Transport for NSW contract

Company News

by Kathy Skantzos

A subsidiary of Redflex Holdings, (ASX:RDF) Redflex Traffic Systems, has been awarded a new five-year contract with Roads & Maritime Services, a government-owned agency within Transport for NSW.

The producer of traffic enforcement products and services has been providing these services to Roads & Maritime Services since 2010.

The contract is for the operation of mobile roadside speed photo enforcement throughout New South Wales and includes two optional one-year extensions.

The contract is expected to generate revenue of $66 million over the five years.

The new contract will commence following the expiry of the existing contract which was announced on 31 March 2017.

Shares in Redflex (ASX:RDF) closed 0.23 per cent higher to $0.55.