Made Tech Group (LON: MTEC) is bucking the trend today after it announced several contract wins. The AIM-quoted digital consultancy has increased sales bookings in the year to date to £68.2m. The share price improved 4.49% to 23.25p.
In the second half contracts worth £26.2m have been secured. This means that Made Tech is going to achieve the expected double digit growth in revenues in the year to May 2025.
There are two contracts with the Department of Business and Trade worth a total of £12m over up to four years. This expands the relationship with that department. There is another £6m contract with the Department of Justice.
Singer recently upgraded its forecasts, and the additional wins underpin that upgrade. Revenues of £43m are expected and pre-tax profit is forecast to improve from £1.4m to £2.1m. The share price had drifted to a new 2025 low prior to the announcement. The shares are trading on just under 20 times prospective earnings.