Cordel Group PLC (AIM:CRDL) shares climbed 8.5%, rising to 5.97p, on Monday after announcing a £3 million Network Rail contract that deepens its role in Britain’s rail analytics stack, while management also flagged revenue for the 10 months to end April is set to come in more than 10% ahead of the equivalent period last year.
The AIM-listed group will provide point cloud data processing to deliver Structure Gauging outputs at scale across Network Rail, under a contract running to December 2027. The deal also carries an optional extension to December 2028 worth a further £1.336 million.
The work builds on approvals Cordel secured in June 2024 for all three Network Rail gauging clearance file types. Under the new mandate, the company will process raw LiDAR data captured from infrastructure monitoring units into compliant outputs required under Network Rail standards, while also updating the National Gauging Database, configuring the Track Intervals Module and delivering validated clearance files.
Cordel said the procurement is intended to help Network Rail clear a legacy backlog, cut operational and safety risks and restore accurate gauging information across the network. Chief executive John Davis said the award marks “a significant deployment of our end-to-end AI technology pipeline,” while chairman Ian Buddery said the group remains confident of delivering a full-year FY26 result in line with board expectations.