20th Nov 2024 12:20
(Alliance News) - Made Tech Group PLC on Wednesday said it expects revenue for the current financial year to be ahead of market expectations, following a strong year-to-date sales performance.
Made Tech is a provider of digital, data and technology services to the UK public sector based in London.
Made Tech reported sales bookings of GBP37.5 million for the financial year-to-date at September 30, already ahead of the GBP36.0 million bookings in the whole of the prior year.
Made Tech said it expects revenue for the full year ending May 31 to be ahead of the current market consensus of GBP35.2 million.
The current consensus represents a decline from GBP38.6 million in revenue a year before.
Looking ahead, Made Tech said it expects the new UK government's commitment to digital transformation to "unlock a number of further public sector digital transformation programmes" in early 2025.
Chair Joanne Lake said: "The structural growth drivers of our market undoubtedly remain strong. The action we have taken to strengthen our business is beginning to deliver results, and we are well-positioned to capitalise on the significant opportunities which lie ahead."
Made Tech will release its half-year trading update for the six months ending November 30 no later than early February 2025.
Made Tech shares were up 23% at 22.80 pence each in London on Wednesday afternoon.
By Lydia Doye, Alliance News reporter
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