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(Sharecast News) - AIM-listed Made Tech Group rallied on Tuesday as it announced its biggest contract win ever and lifted its full-year outlook.
The company, which provides digital, data and technology services to the UK public sector, said it has been appointed as part of a consortium to a "significant" new four-year contract with a UK government department.
The total contract value attributable to Made Tech is expected to be around £40m over the life of the contract award, making it the largest in its history.
Revenue from the award is expected to begin in FY27, with a more significant contribution expected the year after. As a result, the company now expects revenue for FY27 to be between £63m and £66m and adjusted earnings before interest, tax, depreciation and amortisation of £6.3m to £6.6m, ahead of market expectations of £60.3m and £6.0m, respectively.
Chief executive Rory MacDonald said: "This is the largest contract award in our history and marks an important milestone in our growth. The award also endorses our position at the centre of a number of critical programmes across government.
"Importantly, it also provides greater visibility over future revenues and underpins the board's confidence in upgrading its expectations for FY27 while reinforcing our confidence in the group's medium-term growth trajectory. We look forward to working alongside our consortium partners over the coming years."
At 1243 BST, the shares were up 13.6% at 43.45p.
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