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.

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.

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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.

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