TPG.L Share News (TPG)

(Sharecast News) - Engineering services company TP Group said on Monday that it had secured a new order for consulting and digital services from the UK Ministry of Defence worth £1.1m.
TP Group stated it would be working on the MOD's £3.2bn MORPHEUS Programme to scope the next generation of applications to be used by military personnel deployed around the world to exploit information faster and enable better decision making.

The AIM-listed group said the work added to a number of smaller contract wins for TP's emerging digital services delivery offering.

TP Group added that its offering was "well-timed" to support the Government's current demand for responsive software but also noted that the win was "not material" in terms of the firm's financial performance.

Chief executive Phil Cartmell said: "This new contract award recognises our portfolio of services across consulting and software & digital solutions. Combining these together allows us to provide a broad-based support to the MOD across its multi-billion transformation programme."

As of 0925 BST, TP Group shares were up 0.99% at 5.71p.