Biometrics fuelling growth for Australian security firm
Australian security solutions firm MaxSec Group Limited has reported that it has achieved its fifth consecutive full year as a profitable company, fuelled by customer interest in biometric security solutions and growth in the US, Middle East and South East Asia markets, according to a report by ARN.
MaxSec’s overall revenues saw a 65% increase for 2015 from $3.14 million to $5.2 million.
Additionally, the company’s net profit after tax saw a 123% increase from $187,000 to $411,000.
The landmark year has already brought a number of first’s for MaxSec, including the opening of a new office in Dubai to cater to the Middle Eastern market, as well as a new set of standalone and integrated biometric security solutions.
The increase in attempted terrorism attacks over the 2012-2014 period has helped drive demand throughout the physical electronic security market and, as a result, Maxsec’s customers are now demanding a range of high security products including encrypted security card systems, multi-factor authentication (card, PIN and biometrics), and standalone verification and authentication biometric devices.
The company has named four new distributors in the past 12 months, which now includes Honeywell, NESS, Seadan, LSC, Transtech and SAT.
Meanwhile, the company’s system integrators now include Siemens, Schneider Electric and Secom, amongst others.
Maxsec’s customers currently include the Australian Federal Police, Qantas, several of Australia’s airports, the Australian Tax Office, ASIC, the Federal Government, the Metropolitan Police, the BBC, and the British Home Office.