21 Jan 2014

Wynyard shares shoot up

10:17 am on 21 January 2014

Wynyard shares have reached a fresh record and are up 145% since the end of last year.

The shares rose as high as $3.01 on Monday before closing at $2.84, up 34 cents.

The spur for the latest spurt in the share price was the company's announcement that it has formed an alliance with Arquebus Solutions, a British-based expert on firearms and ballistics.

The signing of the partnership agreement with Arquebus is the company's third announcement already this year.

Wynyard managing director Craig Richardson said his company was on a fast growth track.

"The technology is moving very quickly. The opportunities that are coming our way are very interesting and I guess this is really what high-growth companies are about - being able to keep moving and responding," Mr Richardson said.

"This is really the same product, it's just deploying to solve different problems. Crime's a growing problem no matter where you go in the world, so I guess as we expand we're seeing the momentum build in terms of the opportunities that are created for us."

The company's main marketing focus was to make sure it was visible to the customers it was trying to sell the products to, he said.