Petards Group PLC (AIM:PEG) shares started Tuesday higher in early deals as subsidiary Affini Technology renewed a key multi-year framework agreement with an existing customer.
The agreement covers the supply of critical communications equipment and related installation and engineering support services. It runs until the end of 2029, with an option to extend for a further two years.
Affini expects the deal to generate over £1 million per year in revenue over the initial four-year term.
“This renewal provides a strong under pinning of Affini's future trading over the coming years,” Petards chair Raschid Abdullah said in a statement.
In London, Petards shares started Tuesday’s trading strongly, reaching 11p in early exchanges, before slipping back to 8p as trading progressed.