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UK – Matchtech extends major contract and wins new agreement

14 March 2013

Engineering and technical recruiter Matchtech Group (MTEC:LSE) has extended one major contract and won a second which will broaden the firm’s client base, the firm announced Thursday morning.

The firm has extended a contract until the end of December 2015 with a major client, business process outsourcer Xchanging Procurement Services Ltd and its client BAE Systems. This new agreement, with unchanged headline margin, continues to give the company access through Xchanging to BAE Systems' technical and non-technical requirements across the UK.

Matchtech also announced winning a new two-year managed service contract with the Distribution Network Operator UK Power Network, covering the provision of temporary and contract recruitment services throughout the UK.

The firm’s chief executive, Adrian Gunn, said: “We are very pleased to confirm the extension of our contract with Xchanging and its client BAE Systems, extending our relationship for a further period of nearly three years.

“It is also particularly pleasing to be working with UK Power Networks, our first major contract win in the Utilities sector, further broadening our client base.”

The firm last month reported strong demand for contractors with gross profit rising to +8% to £18.5 million in the six-month period to January 2013.

Matchtech Group places staff in four key sectors – engineering, science & medical, built environment and information systems & technology. It is among the 30-largest staffing companies in Europe, according to research by Staffing Industry Analysts.

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