Panoply scores 'strategically significant' contract with MHCLG

Panoply said on Wednesday that the contract was part of the £9.5m-worth of new business wins secured during the first eight weeks of the year and will see the group enable local authorities across England to access the £3.6bn "Towns Fund".

The AIM-listed group's FutureGov subsidiary will be working as part of a multidisciplinary consortium to deliver the project, alongside other leading organisations led by Arup and including Copper Consultancy, Grant Thornton UK and The Nichols Group.

Panoply said the contract signed between the consortium and MHCLG was for a 12-month period, with FutureGov's share further underpinning the group's confidence in achieving its expectations for the current year.

Chief executive Neal Gandhi said: "FutureGov's inclusion in the Towns Fund programme demonstrates the reputation that the company has for delivering strategically important initiatives that go to the heart of the Government's policy agenda.

"We are seeing growing signs across the group of the market rapidly moving towards the recovery phase and this contract is an example of the return to a more "business as usual" state of affairs."

As of 0920 BST, Panoply shares had shot up 7.48% to 79p.