D4T4 wins major contract with existing banking client

Data specialist D4T4 Solutions announced a significant contract win with an existing client in the banking sector on Wednesday.

The AIM-traded firm had previously mentioned two contracts that were expected to close in the current financial year.

It said the recently-secured contract would constitute a major portion of the revenue shortfall it was facing in 2024, with a significant amount of low-margin hardware.

The company forecast that the bulk of the hardware will be delivered in the first half of the 2024 financial year.

“At the company's AGM this morning, the chairman will confirm the group has a strong pipeline and is highly confident in the group's strategy to deliver growth and create significant shareholder value in the coming years,” the board said in its statement on Wednesday.

At 1552 BST, shares in D4T4 Solutions were up 2% at 198.9p.

Reporting by Josh White for Sharecast.com.