Ideagen – 23.75p

12 March 2013 – contract wins and board change

Software group Ideagen has announced that it has won new contracts worth around £700k within its newly-acquired Plumtree business – the customers are the Western Isles NHS Trust and the Forth Valley NHS Trust.  It is expected that 70% of the contract value will be recognised in the next 12 months and to put this into context Ideagen is expected to generate revenues of £7.75m in the year to 30 April 2013.  The integration of Plumtree is now complete and some senior management changes have also taken place.  The compamy has also confirmed that it is trading comfortably in line with expectations.  Despite the share price rise the shares continue to look ATTRACTIVE.

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