IN BRIEF: Cordel announces contract upgrade with Genesee & Wyoming

Cordel Group PLC - London-based transport corridor analytics platform - Announces further upgrade of contract with Darien, Connecticut-based Genesee & Wyoming Inc, alias G&W. G&W is the owner and lessor of more than 100 short line and regional freight railroads in North America. The contract has been extended to cover seven regional sub-divisions across the G&W Canadian division. Cordel says: ‘Over 1000 miles of data has already been captured, to be processed and delivered by our artificial intelligence platform within the next 2 months.’

Chair Ian Buddery says: ‘Our engagement with G&W is expanding rapidly. Hard on the heels of last week’s announcement, we are now entering the Canada market with them. Our LiDAR [light detection & ranging] capture units continue to deliver in some of the harshest climates from the Arctic to the desert, whilst our recently upgraded unattended data upload via satellite and terrestrial networks has slashed collection times. This announcement further reinforces the board’s confidence in it’s full year target.’

Current stock price: 5.50 pence, up 10% on Monday afternoon in London

12-month change: down 29%

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