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10.50 0.40 (3.81%)

Bid:

10.00

Ask:

11.00

Spread: 1.00 (10.00%)

Market Cap: £3.86m

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Dillistone secures 'potentially significant' contract win

Thu, 30th Mar 2023 08:45

(Sharecast News) - Software and services firm Dillistone has secured a "potentially significant contract win" with an unnamed British recruitment organisation.

Dillistone said on Thursday that the contract, with a "well-known leading UK-based contingency recruiter", includes a "significant" amount of tailored development work which will determine the final value of the contract.

"The sum total of this development work and the ongoing licence revenue is expected by the board to result in the contract being the largest won since the restructuring of the group in January 2020," said Dillistone.

"It is expected that a significant part of the non-recurring revenues will be realised over the course of the current year with the implementation for the first group of users completing in Q4 2023. As a result, recurring revenue is expected to be meaningfully impacted from 2024 onwards."

As of 0840 BST, Dillistone shares were up 2.70% at 19.0p.

Reporting by Iain Gilbert at Sharecast.com