TP Group shares climb higher following satellite order

The price of shares in AIM-listed engineering company TP Group (LON:TPG) has risen by 3.91% to 6.65p (as of 15:50 BST) after it won part of a client side support contract for a Ministry of Defence satellite project. The first part of the order is due to be delivered within the next 12 months, but the overall project is expected to take 5 years.

CEO Phil Cartmell commented: “We are very pleased to join the PA Consulting team for such a prestigious project in military satellite communications and technology. Following the acquisition of Sapienza Consulting earlier this year, this win cements the Company’s role as a trusted partner to MOD in this high technology field and positions the Group for other major space programme work throughout Europe“.