Escher wins big contract with leading postal authority

Shares in Escher Group, the provider of outsourced, point of sale software to the postal industry, leapt on Wednesday following the announcement it has won its largest contract in the group's history, to provide its software and maintenance services to a leading postal authority.

By MoneyWeek

published 8 February 2012

in Features

The contract, which has a 54-month base period and renewal options, is expected to generate, over a 15-year term, around $50m in revenue for the group, but with scope for substantial additional revenue. The first revenue from this contract win, worth approximately $4m, is expected in the year ending December 2012, with increasing revenue in 2013 as the software is rolled out across the network.

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The board believes that the prospects for the group remain strong.

The share price rose 27.48% to 225.00p by 14:39.

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