HighCom Limited (ASX:HCL) – formerly XTEK – has announced its confirmation of a contract nearly $9M in value for body armour products.
The news put HighCom in the green in afternoon trades, up 11% – an usual standout on a Monday of carnage for the ASX. (With that said, the stock is thinly traded.)
The “ballistic products” – exact order specifications weren’t elaborated on – are going off to a military customer.
Supply of goods is set for H1 of this financial year and the company reported it continues to engage “closely with customers in domestic and global markets.”
The company’s former CEO abruptly quit earlier this year, sending the share price down -50%.
““HighCom’s armour business continues to provide its superior products and expertise to the global marketplace to meet demands of militaries, law enforcement and first responder customers,” HighCom chair Ben Harrison said.
“This significant order, which is valued at A$8.9m, is a testament to the dedication and hard work of our team who remain continually engaged with customers seeking to rapidly acquire large quantities of advanced high-end ballistic products to meet their needs.”
HCL last traded at 15cps.