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Sky High soars on Transport for London contract award

Last updated: 10:49 13 Feb 2012 GMT, First published: 11:49 13 Feb 2012 GMT

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Shares in data collection and analysis group Sky High (LON:SKHG) soared on news it won a four-year contract from Transport for London (TfL).

The share price shot up in early deals and by 11.42 am, stood at 13 pence, up 36.8 per cent from yesterday’s close.

Under the deal, the company will provide data processing services from April this year for TfL’s Bus Origin Destination Surveys (BODS).

BODS data is used to develop transport services and to contribute to the general understanding of the way passengers use the network.

The contract is estimated to be worth approximately £140,000 per year which represents a significant increase in the turnover and development of the data capture business, the company said.

Chief executive Mark Mattison said "This contract adds to the increasingly diverse portfolio of our Data Capture Division complementing our existing clients including Department for Transport, Ministry of Defence, Virgin Media, Greater Manchester Police and John Lewis Partnership.”

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