TechMARK movers: Innovation contract

6th May 2010 15:15

Business process outsourcing provider The Innovation Group has won a new contract in North America with a large car rental group. TIG already provides pan-European claims management and fleet repairs services to this client. The new contract covers vehicle damage repair management services. The contract is worth at least £5.75m over three years and it starts at the beginning of June. Total Systems is the best performer in TechMARK even though there has not been a deal in the shares of the insurance software provider since 24 March. Defence and flight refuelling equipment supplier Cobham made a decent start to the year but it has not been enough to offset previous weakness. Order intake was slightly ahead of expectations in the three months to March 2010, but this has not fully compensated for the slowdown in orders late last year. Uncertainty over government defence spending has hampered progress. Commercial business is recovering but is not back to previous levels as yet. FTSE TechMARK - RisersTotal Systems (TTS) 23.50p +9.30%Innovation Group (TIG) 12.50p +6.38%Antisoma (ASM) 6.89p +6.00%Sepura (SEPU) 45.00p +4.65%Parity Group (PTY) 9.25p +2.70%BATM Advanced (BVC) 38.50p +2.67%Ark Therapeutics (AKT) 10.50p +2.44%Emblaze (BLZ) 44.25p +2.31%E2V Technologies (E2V) 58.00p +2.20%Vislink (VLK) 23.00p +2.17%FTSE TechMARK - FallersCobham (COB) 241.30p -6.80%Gresham Computing (GHT) 14.00p -6.67%Wolfson Microelectronics (WLF) 158.00p -5.39%Sinclair Pharma (SPH) 29.25p -4.10%Phytopharm (PYM) 9.25p -3.95%Torotrak (TRK) 23.75p -3.16%Spirent Communications (SPT) 112.50p -2.60%Filtronic (FTC) 29.00p -2.52%Ricardo Group (RCDO) 297.50p -2.46%Intec Telecom Systems (ITL) 60.75p -2.02%