REG - Shearwater Group PLC - Contract Renewal

ShearwaterAnnouncement

02/04/2025 07:04

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RNS Number : 2409D  Shearwater Group PLC  02 April 2025

 

 

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02 April 2025

 

 

Shearwater Group plc

("Shearwater", or the "Group")

 

c.£8.4m contract renewal with leading telco and media company

Shearwater Group plc, the cybersecurity, advisory, and managed security
services group, is pleased to announce that its Group company, Brookcourt
Solutions, has secured an c.£8.4m contract extension, over two years, with a
multinational telecommunications and media company.

This two-year extension, to the original three-year contract, ensures the
continued delivery of advanced service assurance solutions, supporting
critical business applications and processes across all technology domains.

The win further deepens Shearwater's relationship with the telco and
reinforces Brookcourt Solutions' position as a trusted provider of forensic
monitoring solutions, support, maintenance, training, and managed services.

This underlines Shearwater's ongoing commitment to providing industry-leading
cybersecurity and monitoring solutions to major enterprise clients.

The revenue and cost of sales in respect of this contract will all be
recognised in FY25, which is expected to support the Group in delivering
results for the period in line with market expectations, which would represent
significant annualised growth in both revenue and Adjusted EBITDA from FY24.

Phil Higgins, CEO of Shearwater, commented: "We are delighted to have secured
this contract extension, further cementing our partnership with one of our key
clients. This demonstrates the strength of the Group's capabilities and our
ability to deliver long-term, mission-critical security and monitoring
solutions. Winning this extension reinforces our position as a trusted
provider and underlines the value we bring to our clients."

 

Enquiries:

 

 Shearwater Group plc                                             www.shearwatergroup.com

 David Williams, Chairman                                         c/o Alma

 Phil Higgins, CEO

 Jonathan Hall, CFO

 Cavendish Securities plc                                         +44 (0) 20 7397 8900

 Adrian Hadden / Ben Jeynes - Corporate Finance

 Charlie Combe / Dale Bellis / Michael Johnson - Broking/ Sales

 Alma                                                             shearwater@almastrategic.com (mailto:shearwater@almastrategic.com)

 Justine James / Joe Pederzolli / Emma Thompson                   +44 (0) 20 3405 0205

 

About Shearwater Group plc

 

Shearwater Group plc is an award-winning group providing cyber security,
managed security and professional advisory solutions to create a safer online
environment for organisations and their end users.

 

The Group's differentiated full service offering spans identity and access
management and data security, cybersecurity solutions and managed security
services, and security governance, risk and compliance. Its growth strategy is
focused on building a scalable group that caters to the entire spectrum of
cyber security and managed security needs, through a focused buy and build
approach.

 

The Group is headquartered in the UK, serving customers globally across a
broad spectrum of industries.

Shearwater shares are listed on the London Stock Exchange's AIM under the
ticker "SWG".  For more information, please visit www.shearwatergroup.com
(http://www.shearwatergroup.com) .

 

 

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