Shares in Tialis Essential IT (LSE:TIA) surged 36% on Tuesday after the company announced a major contract extension worth approximately £50 million with a long-standing client.
The five-year agreement significantly expands Tialis’s existing work with the customer and will see the AIM-listed managed services group provide a range of support services, including Lifecycle Services, Tech Bars, End User Support and Field Engineering.
The deal, which runs until 2030, strengthens Tialis’s order book and boosts revenue visibility heading into the next financial year. It also marks a clear endorsement of the company’s performance and ability to retain high-value clients.
“This award highlights the trust placed in us to deliver mission-critical solutions,” said Niall O’Regan, Tialis’s chief operating officer. “It supports our strategy of driving growth through long-term partnerships.”
The announcement adds momentum to Tialis’s efforts to scale through deeper client relationships and recurring contract wins.
The shares rose 22.5p to 85p.