25th Feb 2015 08:11
LONDON (Alliance News) - RTC Group PLC saw its shares rise by half early Wednesday after it won a deal potentially worth between GBP80 million and GBP100 million to provide staff to Network Rail, the company that oversees the UK's rail network infrastructure.
RTC said its Ganymede Solutions Ltd subsidiary will provide contingent labour services including the supply of safety critical, track and electrification and plant workers in the West, South West and North East England, the Midlands and Wales.
The contract will run for five years from April 2015 and has an estimated order book value of between GBP80 million to GBP100 million.
"The board believes that the award of this contract, coupled with the impressive organic growth with other prime suppliers in the rail sector and the diversification opportunity created through the acquisition of RIG Energy at the end of 2014, places Ganymede in an enviable position relative to its peers," RTC Chief executive Andy Pendlebury said in a statement.
RTC shares were up 50% at 60.00 pence early Wednesday, making it the best-performing stock on the AIM All-Share index on the day.
By Steve McGrath; [email protected]; @stevemcgrath1
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