D4T4 Solutions wins a series of new contracts

Data solutions provider D4T4 Solutions reported a number of new contract wins in key vertical sectors for its data management and data collection business areas during the first months of the current year on Tuesday.

The AIM-traded firm said that in data management, it won a “major” data migration contract with an unnamed global US-based financial institution as part of its ‘Private Cloud Data Analytics’ solution.

It also won a new contract delivering analytical implementation services for one of its unnamed global partners.

In data collection, it reported a new multi-year contract for its ‘Celebrus’ data collection software with an unnamed global US-based financial institution, and an extension of a global contract in the financial services sector with the addition of two new geographies using its Celebrus data collection software.

It also reported a capacity extension contract for its Celebrus data collection software with a major online retailer in Taiwan.

In addition, the company announced in its final results statement on 26 June that the debtor balance owing was £19.5m as at 31 March, due to the business weighting occurring late in the second half.

The company confirmed on Tuesday that it received payment of the £19.5m, and therefore now had a “strong” cash balance.

“As communicated at the time of our final results in June 2018, we entered this financial year in robust shape after achieving record bookings in the second half of the year,” said chief executive Peter Kear.

“In the year to date, and in line with management's expectations, we have been successful in converting a number of significant opportunities from our strong pipeline.

“This puts us on track to return to more normalised levels of business weighting for the first half of this financial year, against the comparable period last year.”