TPG.L Share News (TPG)

(Sharecast News) - TP Group was on Thursday awarded two contract extensions worth a combined value of approximately £1.4m to its existing work within the space engineering sector for the Ministry of Defence (MoD).These extensions are to contracts that have seen consultants from the engineering and support services provider aid the MoD with requirements for development and technical assurance, including product assurance, security assurance, ITT development, bid evaluation and industrial engagement.Phil Cartmell, chief executive of TP Group, said: "This is another step forward in our growing space systems activity. We are delighted to be working with MoD on some of its most strategically important projects."The extensions will last approximately six months, with options to extend for a further three months for a combined cost of £0.3m."We have built a team of approximately 20 technical experts with highly specialised skills in the space engineering sector over the past two years. These awards confirm our role supporting UK Government in the provision of this expertise and builds on our past work through three different previous contracts in this area," said Cartmell.TP Group's shares were unchanged at 6.22p at 1134 BST.