Scisys locks in follow-on contract for defence sector project

(Sharecast News) - IT-based solutions and support services firm Scisys has secured a £2.4m follow-on contract in the defence sector.Scisys told investors on Thursday that the contract was for follow-on-work, continuing a defence project started in 2016 which it delivered successfully to schedule.The AIM-listed firm will cover software support and configuration management services, coupled with software development and enhancement in the logistics information department of its unnamed client.Scisys revealed the total contract value was £2.4m and will commence before the end of the year and carry on until December 2020. However, it noted the contract win had not altered its existing market guidance.Chief executive Klaus Heidrich, said: "We are delighted with this extension to our order book, which strengthens our position as a respected long-term supplier to the defence sector."As of 1410 GMT, Scisys shares had slipped 2.95% to 139.765.