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Made Tech Group PLC - London-based provider of services that enable central government, healthcare and local government organisations to modernise technology - Wins new contract with the UK Home Office worth around £10 million over a 24-month period. Contract has six-month extension option worth further £2 million. Made Tech will provide "a number of digital, data and technology services" to the Home Office. The UK government department, which is responsible for domestic security, is "transforming its services by introducing several new digital systems", Made Tech says.
Won first one-year contract with Home Office in May 2021, worth around £4 million. The contract award announced on Tuesday represents a renewal and expansion of the initial contract.
Chief Executive Officer Rory MacDonald says: "We are delighted that the Home Office has chosen to partner with Made Tech once again, as it demonstrates its confidence in our ability to deliver digital technology and our growing reputation within the market."
Current stock price: 26.95 pence, up 5.7% in London on Tuesday
12-month change: down 79%
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