LONDON (ShareCast) - VT Group (LSE: VTG.L - news) will pocket £250m after the defence firm agreed an extension to a couple of government
support contracts.
An option has been exercised to extend VT's engineering and communications framework contract with a government agency by five-years to 2015.
Training and soft facilities management support agreements with the Royal Navy, run by VT's Flagship training business, will also keep going, extended from June 2011 to December 2011 and April 2013 respectively.
"These important extensions to major support services contracts will provide a significant boost to our business and will further strengthen organic growth in our order book values," said VT boss Paul Lester.
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