PTY.L Regulatory News (PTY)

Parity Group plc  

("Parity" or the "Company") 

Contract award

Parity, the data and technology-focussed professional services company, is delighted to announce it has been selected as 'the preferred supplier' for contract resources to a large government agency where data and analytics forms a critical part of the mandate.

The award, made by the customer following a decision to refine its supply chain to a 'preferred supplier', materially expands Parity's relationship with the customer and recognises Parity's strength in delivering recruitment solutions for highly skilled IT and data resources.

Based on the immediate migration of contractors from other suppliers to Parity and the demand for additional resources this contract win secures both existing and incrementally new NFI (net fee income) in a key target market for the business. The incremental business is estimated to be worth in the region of £250k NFI annually.

Mark Braund, Executive Chairman, said:

"The Company has won this new mandate based on the Customer's positive experience of working with Parity, where it has demonstrated over a period of time the ability to rapidly and accurately supply the required skilled resource, whilst successfully navigating the demands of IR35 legislation.

I congratulate and thank the operational team for its success in winning this contract. It is, we hope, just the first material indication of Parity's return to what it does best; providing quality and innovative recruitment solutions to meet the growing demand for highly skilled resources in the data, technology and change management sectors of the market."

-ENDS-