Matchtech secures contract extension with Xchanging Procurement Services

AIM-listed specialist engineering, technology and professional staffing group Matchtech has signed a contract extension and announced a new contract win.

AIM-listed specialist engineering, technology and professional staffing group Matchtech has signed a contract extension and announced a new contract win.

The group reported an extension of its contract with business process outsourcer Xchanging Procurement Services and its client BAE Systems until the end of December 2015.

It also secured a new two-year managed service contract with the distribution network operator UK Power Networks, covering the provision of temporary and contract recruitment services throughout the UK.

Adrian Gunn Commenting, Group Chief Executive of Matchtech, said: "We are very pleased to confirm the extension of our contract with Xchanging and its client BAE Systems, extending our relationship for a further period of nearly three years, which is testament to the high level of service Matchtech provides.

"It is also particularly pleasing to be working with UK Power Networks, our first major contract win in the Utilities sector, further broadening our client base."

Matchtech Group's share price was up 4.94% to 297.50p at 09:02 on Thursday.

MF

Recommended

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021