TP Group subsidiary wins further ESA orders

TP Group said on Tuesday that its subsidiary Sapienza Consulting has received a further series of work orders under its extended framework contract with the European Space Agency.

The AIM-traded firm said the newly-received work orders were worth more than €9m (£8.11m), and related to a range of ESA programmes at the European Space Technology Centre at Noordwijk in the Netherlands.

That was on top of the €18m of works orders announced on 18 June, with further work orders expected to be received under the framework agreement.

“We are very pleased to have received these work orders from ESA,” said chief executive officer Phil Cartmell.

“It is encouraging to see business continuing during this difficult period and we remain able and available to support our partners on their long-term programmes.”

At 1037 BST, shares in TP Group were up 1.67% at 7.32p.