BlueStar Secutech
BlueStar and its subsidiaries provide digital video surveillance solutions to corporate clients who are located mainly in the People's Republic of China. These solutions are based upon a range of Digital Video Recorders ('DVRs') designed built and market
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BlueStar SecuTech expects full-year results in line with expectations
BlueStar SecuTech Inc. (AIM: BSST) said results for the year ended March 31 2009 are expected to be in line with market expectations.
The company, which provides digital video surveillance equipment in China, expects revenue for the year to be approximately RMB154 million, with profit of RMB20 million and EBITDA of approximately RMB 26 million.
Its cash position remains strong with cash balances at the year-end of approximately RMB83 million.
During the final quarter of the year BlueStar continued to win new business contracts including a significant complementary agreement on networking projects with the China Construction Bank's (CCB) Beijing branch. The company also signed a new framework agreement relating to DVR sales with the China Merchant's Bank.
Additionally, BlueStar said its cooperation agreement with Kaiyuan Co for the joint provision of video surveillance monitoring and mobile security guarding in Beijing is progressing well. “Initial demand to use the surveillance centre's services amongst Kaiyuan's existing customers has been extremely promising and it is hoped the command centre will be fully operational by the end of June.”
