(Alliance News) - Restore PLC on Wednesday said it has won a significant communications contract from the UK's HM Revenue Customs department.
Restore shares jumped 20% to 216.86 pence each on Wednesday morning in London.
The London-based provider of digital and information management and lifecycle services said the contract is worth up to GBP140 million depending on transactional volumes, and will cover between five and seven years, beginning in September 2024.
The firm said it will manage outbound print and messaging services (including SMS, email and rich messaging) which will be sub-contracted to two strategic partners.
It will also provide inbound mailroom and scanning services, which it already currently offers under its existing HMRC contract.
The company noted that the contract will see it deliver a communications platform aimed at shifting HMRC customers to digital communications, and in doing so reduce paper consumption and transform HMRC's operations into a "cutting-edge digital solution".
By Harvey Dorset, Alliance News reporter
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Restore (RST)