Made Tech Group PLC shares jumped on Monday, after it said it has won a £19.5 million contract.

Made Tech is a London-based provider of digital, data and technology services. Its shares were up 37% to 12.63 pence each in London on Monday morning.

Made Tech said it has won a new contract with Department for Levelling Up, Housing & Communities.

It said the contract is worth up to £19.5 million in revenue over a 24 month period.

Made Tech said it will work with DLUHC on the design and development of new digital tools and services.

The company first won a contract with DLUHC in 2019. It has since won further contracts with the division in 2021 and 2023.

‘Having supported DLUHC to deliver more than 35 digital projects since 2019 we are excited for the opportunity to continue building our partnership. The award of this contract helps underpin our revenue expectations for [financial] 2025 and is a testament to the confidence in Made Tech to deliver major new programmes of work,’ commented Chief Executive Rory MacDonald.

Copyright 2024 Alliance News Ltd. All Rights Reserved.