4Global secures two contracts in Saudi Arabia

(Sharecast News) - Data, services and software company 4Global has secured two contracts in the Kingdom of Saudi Arabia (KSA), it announced on Tuesday, totalling over £0.8m in combined value. The AIM-traded firm said the majority of the work was slated for completion within the current financial year.

It said the first contract would involve 4Global's assessment of various sporting facilities in the region, in collaboration with a KSA client.

The objective was to determine the value and operational feasibility of the facilities, with the goal of securing public investment to support sports participation expansion in the area.

It said the second contract represented a partnership with a new regional client.

4Global said it would provide a comprehensive solution to evaluate the potential return on investment in sports facilities.

The solution aimed to enhance the overall return on investment by improving various aspects, including facilities, programmes, and events.

"We are delighted to have been awarded the two additional contracts in KSA," said chief executive officer Eloy Mazon.

"This is a significant achievement and a testament to our commitment to excellence and our strong presence in this region.

"Securing these contracts underscores the robustness of our international expansion strategy and the value our existing and potential customers see in gaining access to our data - DataHub - and insight solutions that are critical to them to make the right decisions at the right time."

4Global's board said it was confident the company was trading in line with market expectations for the current financial year.

At 0945 GMT, shares in 4Global were up 0.83% at 61p.

Reporting by Josh White for Sharecast.com.