Shares in Shearwater Group PLC (AIM:SWG) rose 8.4% on Wednesday after the cybersecurity firm announced an £8.4 million contract renewal with a major telecoms and media company.
The deal, secured through its subsidiary Brookcourt Solutions, extends an existing three-year agreement by a further two years.
It will see Shearwater continue to provide service assurance solutions, including forensic monitoring, support, maintenance and training across the client’s critical technology systems.
The contract’s revenue and related costs will be recognised in full during the current financial year, helping support the company’s guidance for significant growth in both revenue and adjusted earnings.
The extension deepens Shearwater’s ties with a key client and reinforces Brookcourt’s reputation as a trusted provider of cybersecurity and managed services.