Cordel secures two new contract wins

Cordel said the first contract was with Australian rail freight operator Aurizon and will see the company provide automated, AI-enhanced, clearance assessments across part of Aurizon's rail network, including standard video and LiDAR data deliverables and access to its Connect Data Management Platform.

The AIM-listed firm said it has also been awarded a contract with one of the UK's "biggest and busiest" passenger train operators, Southeastern, which has tasked it with helping optimise the accessibility of its new trains.

Chief executive John Davis said: "These two contracts, both with new customers, are entry points into what we hope will evolve to network-wide delivery with Aurizon in Australia and Southeastern in the UK.

"We are confident that our automated scanning and analysis will provide a compelling business case for Aurizon, while the Southeastern contract will demonstrate Cordel's ability to provide measured outputs that are not currently available to new train designers and specifiers, extending our range of services."

As of 1000 GMT, Cordel shares were up 0.74% at 6.80p.

Reporting by Iain Gilbert at Sharecast.com