LONDON (ShareCast) - (Sharecast News) - Wireless solutions outfit Starcom will provide a number of its Helios Advanced units to a local distributor in North Africa after signing a supply deal on Wednesday.
In addition to its signature Helios devices, the Jersey-based company will supply the unnamed African distributor with its Bio Can fuel sensors as part of the deal.

The total value of the distributor's order was projected to be roughly $1.1m - with a potential value of as much as $2.5m in 2019.

Starcom said: "Assuming that this initial order is satisfactorily delivered by the year-end and that other ongoing orders are all completed as planned, it is anticipated that revenues for 2018 will comfortably exceed the current market expectation of $5.9m and that EBITDA will be in line with current market expectations, namely in the region of $485,000."

Elsewhere, Starcom announced it had raised up £400,000 through a placing of 20m new ordinary shares of 2p each.

Starcom anticipates the shares will become effective on 12 November.

As of 0830 GMT, Starcom shares had tumbled 8.83% to 2.19p.

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