Shares Silver Bullet Data Services Group PLC (AIM:SBDS) spiked 24% higher in early trading after announcing significant contract wins and a new working capital facility.
The company secured 20 new contracts in the first half of the year, totalling around £1.2 million in new business revenues.
This incoming business includes multinational brands across various sectors, with a notable global mandate from a major confectionery company.
These wins contribute nearly 70% of Silverbullet's full-year revenue target for the current financial year, highlighting the company's strong market position and ability to attract high-profile clients.
Additionally, Silverbullet secured a $1 million receivables discounting facility to support cash flow management and growth from large global customers with longer payment terms.
This facility is expected to help the company achieve positive operating cash flow in the second half of 2024, reinforcing its strategic objectives and solid financial foundation.
In early trading, the stock was up 17.9p at 92.9p.