Petards shoots up after contract win

AIM-listed software developer Petards (LON:PEG) climbed by 6.94% to 22.20p (as at 13:00 BST) after one of its subsidiaries secured a multi-year renewal to its contract with Network Rail. Under the terms of the five-year-long contract, which is valued at £1.3 million, the recently acquired RTS will provide Network Rail with real time failure and incident management software.

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Chairman Raschid Abdullah said that by securing this contract only a few weeks after joining the group, RTS had: “made a strong start to its life under Petards’ ownership“.