SimiGon (AIM:SIM) – cracking contract win to underpin the numbers
The provider of simulation training solutions which we originally commented on in February 2013 has announced a major contract win.After a quiet start on AIM this one is really starting to motor
The Group has been selected as a prime contractor (a big step up!) to deliver its SIMbox based training solution. They have already begun to deliver upon this contract, which begs the question why it wasn’t announced earlier, which will initially be delivered over an 18 month period. The contract, valued of US$6.7m, clearly underpins the December 2013 numbers and also offers support intto 2014 as well. The Group’s positioning as a prime contractor in the aviation training market is also significant. The valuation in terms of earnings estimates looks quite punchy but with loads of cash (US$7.1m at 31st…