MS International announced the first sales of its new land-based mobile gun system in an update on Friday.
The AIM-traded firm referred to its continuing development of new military products in its half-year results, reporting that during the period, its launched its first land-based mobile gun system incorporating its unique “counter-drone” capability that had already attracted “considerable attention” in the international market.
On Friday, it announced that it had signed a contract with an unnamed overseas customer to supply a number of systems in 2023, named ‘MSI-DS TERRAHAWK VSHORAD’ dual feed weapon systems – mobile air defence.
“The total contract value to the company is £22.4m, and we are aiming to fulfil the contract as soon as practicable,” the board said in its statement.
“Revenues under the contract are expected to be recognised during the 2023 calendar year.
“This contract represents the company’s first sales of this new gun system.”
At 1218 GMT, shares in MS International were up 44.94% at 681.2p.
Reporting by Josh White for Sharecast.com.
