1st Nov 2006 15:12
Innovation Group PLC01 November 2006 For Immediate Release 1 November 2006 THE INNOVATION GROUP PLC Contract Win The Innovation Group plc (the "Group"), which provides outsourcing services andsoftware solutions to the world's insurance markets, today announces a softwarecontract with a new client, a UK supplier of property insurance and relatedproperty services. The UK contract win is for the use of the Group's Policy software and isanticipated to lead to revenues of at least £2.9 million, most of which isexpected to be recognised in the financial year to 30 September 2007. Dependenton usage, further payments may be due in future years. This contract win helps underpin the Board's expectations for the Group's 2007financial year. Hassan Sadiq, Chief Executive of The Innovation Group said: "We are delighted to announce this contract win with a new client in the UK. This reinforces the prospects for our software business and we expect this to contribute to software recurring revenue in the future." Enquiries: The Innovation Group plc 01489 898300Hassan Sadiq, Chief Executive Officer Paul Smolinski, Group Finance Director Smithfield 020 7360 4900Sara Musgrave/ Tania Wild This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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