(MENAFN- ProactiveInvestors)
() continues to penetrate the corporate day locker market with KPMG intending to appoint the company as its preferred supplier and technology provider for its Day Locker Management System across Australia.
Under the memorandum of understanding the two companies will negotiate a definitive enterprise-wide agreement for the supply of Day Lockers for KPMG properties.
This includes associated locker management hardware and software.
Supply will commence on a limited basis to initial deployments in Adelaide South Australia and in Parramatta New South Wales subject to finalisation of commercial terms.
“The adoption of TZ’s Day Locker Solution by KPMG is a strategically important event for the company” executive director Kenneth Ting said.
“Since the introduction of our Day Locker offering which we announced to the market in March 2014 we have been successful in securing another major Australian banking corporation and now one of the big four accounting firms as adopters of our technology.
“The potential for sales to this sector is substantial and we look forward to continued growth through these national deployments and potentially with new customers.”
Last month the company reported a 129.2% increase in revenue for the half-year ended 31st December 2014 to $7.6 million and reaffirmed its revenue guidance of between $18 million and $20 million in FY2015.
Locker Orders
Besides the potential to deploy lockers to KPMG ’s () use of Day Lockers at the three new iconic towers International Towers Sydney (ITS) at Barangaroo represents a high profile deployment for TZ.
The ITS properties have been benchmarked against the best office developments in New York London Hong Kong Singapore and Shanghai and are designed to demonstrate the latest thinking in workplace design and sustainability.
Recently TZ delivered the 100th POPStation Locker Bank to Singapore Post and has secured the Pos Malaysia tender.
This and the pilot in Indonesia represents a solid foundation for growth in the region.
Analysis
continues to grow its presence in the day locker market with KPMG poised to join and another Australian financial institution.
This adds to the momentum that its parcel locker business is building and provides confidence for future sales revenue.
Recently TZ estimated sales potential of up to US$301 million in the 2015 to 2018 horizon for its PAD business with the majority driven by expansion of the existing South East Asian postal locker network expansion of the U.S. logistics network and European postal tender.
In the same period the IXP business has sales potential of up to $27 million from clients in North America Europe Australia and Asia.
Based on estimated revenues for FY15 as well as incorporating recent contract wins and growing momentum Proactive Investors recently set a new price target of $0.25-$0.27 in 12 months.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.