GRC International Group PLC on Friday said it had signed a multi-year payment card industry security testing contract, marking a ‘strong’ start to the year.

Shares in the Ely, England-based provider of products and services for IT governance, risk management & compliance were up 5.7% at 28.00 in London on Friday afternoon.

The multi-year PCI contract, which has been signed with an unnamed ‘provider of managed network solutions’, is expected to generate £140,000 over a three-year term.

Further, the company said that its recently launched cloud security consultancy service had signed its first contract.

GRC said that the two contracts combined represent a ‘strong’ start for company’s strategy going forward.

‘In the first seven weeks of this financial year, the value of customer contracts won in our technical security business is 107% up on the same period a year ago,’ Chief Executive Alan Calder added.

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