Shares in computer based business training specialist ILX Group PLC (AIM: ILX) were lifted by the announcement it won considerable new business in the current financial year, including several major contracts from its competitors.
The stock was trading up 12 percent by midday.
The new contracts total in excess of £500,000. The largest contract, which has been won from a competitor, is to train the graduate intake of a major European investment bank. Revenues from this client in 2009 are expected to be £250,000, the bulk of which will be billed during August and September.
Its unit CTG has also secured a contract, estimated to be worth £100,000, with a large global investment bank for its analyst training programme, which will run through the summer.
In addition, CTG is now the trainer of choice to two of the UK's leading private equity firms. In 2009, CTG will deliver the inaugural graduate programme for one, whilst the other has again chosen CTG to run its intern and analyst training courses.
CTG also now delivers public courses for two accounting professional bodies.
In a strategically important development, CTG will train the US recruits for the New York office of one of its key UK based investment banking clients, ILX added.
Chief executive Ken Scott commented: "The market remains very difficult, but the company is in good shape and continues to win market share."
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