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Made Tech – “awarded £19.5m new contract”. Is it to be £19.5m though and should it could command a near 46% share price rise?…

By Steve Moore | Monday 22 April 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Describing itself as “a leading provider of digital, data and technology services to the UK public sector”, Made Tech Group (MTEC) “is pleased to announce that it has been awarded a new contract with The Department for Levelling Up, Housing & Communities, worth up to £19.5 million revenue to the group over a 24 month period with a 12 month extension option”. Is it though ‘pleasing’ enough for a current approaching 46% higher to 13.5p share price?
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