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Innovation - Two contracts worth £4m

May 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • TIG
  • Price:
  • 7p
Ahead of H1 results, TIG put out two marvellous bits of news comprising two contract wins and an update on trading. The two contracts, both for Innovation Insurer, are expected to be worth £4m over three years. The first is with a “leading European car manufacturer†for accident management services in the US, worth an estimated $1.5m over three years. The second is with “a leading fleet management services company† and is to provide vehicle maintenance and repair services, worth an estimated £3m over three years.Clearly these contracts will help bulk up parts of TIG's business in future years but earlier wins will already lead to a significant increase in sales and profits for H1 results, which are due on 7 May. TIG ...

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