25 May 2012

ILX clinches £0.25m NZ contract

04/07/2011 Robert Tyerman

Project management training software specialist ILX Group (ILX) has won a £250,000 order from the New Zealand Defence Force. The AIM-quoted company says the contract is for its PRINCE2 project management software and 'related e-learning', initially lasting for more than a year, with an option to extend it further.

Chief executive Ken Scott declares the New Zealand deal, which he says was won 'against fierce competition', is the biggest contact ILX has won so far and, significantly, brings 'the potential to win additional business from other government departments' in New Zealand. According to the company, the NZ Defence Force plans to syndicate the ILX contract to enable other government agencies adopting PRINCE2 to obtain the same terms and conditions negotiated by the Defence Force without having to go through a new tender process.

Highlighted by Growth Company Investor at 26p last October, shares in London-based ILX, which nearly doubled pre-tax profits to £1.4 million in the year to March, have now reached 33.25p, valuing the company at nearly £9 million. Hold on.  

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Tags: AIM market, Ken Scott, New Zealand Defence Force, PRINCE 2 software, Project management

Sector: Support Services

Companies: ILX

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