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(Alliance News) - Alfa Financial Software Holdings PLC on Tuesday said it has secured a new contract with an unnamed "leading provider of auto finance solutions".
The company, which provides software to the asset finance industry, was tight-lipped on the cash it would secure from the contract but did explain it ranks "in the middle tier, by monetary value" of its deals.
"The agreement, which is with an existing customer, includes professional services to deliver an Alfa cloud-hosting environment and a multiple-year hosting and maintenance arrangement," Alfa Financial said.
Its a boost for the company, which in April said some new contracts in the US have been cancelled due to the Covid-19 outbreak. Alfa Financial added it was asked by other customers to reschedule work.
"Revenues under this contract provide further comfort over the company's forecasts for 2020 and beyond," Alfa Financial added on Tuesday.
Shares in the company were 6.1% higher at 78.80 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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