Good news for shareholders in WYG (WYG) as the engineering consultancy has been awarded two new framework contracts with UK government agencies and a new contract in Africa in its international development market.
The share price saw strong gains after news emerged of the expanding role as a delivery partner with the Ministry of Defence (MoD), which could result in a surge of revenue generated from a tie-up with the MoD's infrastructure arm. Additional framework agreements have been struck with the government's Crown Commercial Services operation, and the donor funded Climate Resilient Infrastructure Facility in Southern Africa, which is involved in trans-boundary water resource management in the region. The contracts are estimated to be worth approximately £50m over the next three years.
