Contract Wins
Made Tech announces £68.2m sales bookings year to date, including three major government contracts worth £18m collectively.
vs expectations: in line with market expectations
- Sales bookings year to date £68.2m (prior £42.0m H1 FY25)
- Sales bookings FY25 vs FY24 89% increase (prior £36.0m FY24)
- DBT contract 1 (two years with optional third) £6.0m + £2.0m extension option
- DBT contract 2 (four years) £6.0m
- MoJ contract (two years) £6.0m
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Made Tech, a leading provider of digital, data, and technology services to the UK public sector, is pleased to announce continued robust sales booking momentum through the second half of FY25.
Sales bookings in the year to date now total £68.2m. This represents an increase of £26.2m on the first half of the year (H1 FY25: £42.0m) and is 89% up on the prior full-year performance (FY24: £36.0m).
Contract wins in the second half of the year to date include two call-off contracts with the Department for Business and Trade ("DBT"). One, worth £6.0m over a two-year period, with an option for DBT to extend for a third year valued at £2.0m, is for Made Tech to work alongside DBT's Digital, Data, and Technology teams to provide expertise and support them to build long term capabilities. The second contract, worth £6.0m over a four-year period, is for Made Tech to continue developing and improving DBT's data platform and analytical tools.
A third contract with the Ministry of Justice ("MoJ") worth c.£6.0m over two years, continues Made Tech's digital partnership on the MoJ's Electronic Monitoring programme.
The Board is pleased to confirm that trading during the second half of FY25 remains strong. The Group is on track to achieve double-digit percentage annual revenue and Adjusted EBITDA growth for FY25, in line with market expectations, and will be free cash flow positive for the year. The continued sales momentum and bid activity seen in the second half of FY25 underpin our confidence for FY26.
Rory MacDonald, CEO of Made Tech, said:
"We are pleased that the Department for Business and Trade and the Ministry of Justice have chosen to partner with us once again. These wins expand our relationships across multiple service lines, demonstrating the Government's confidence in our ability to deliver critical digital solutions and reinforcing our reputation in the market."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.