I-Design shares surge again on new contract win

SHARES in I-Design, a Fife firm whose software is used in the ATM networks of major banks, were on the up again yesterday, after it unveiled the latest in a series of contract wins.

The stock closed up 10.5 per cent at 21p, a little over a week after leaping 30 per cent on news of narrower full-year losses.

The firm - whose products allow banks to show advertisements on their cash machine screens - yesterday said it had clinched a multi-year deal with YourCash, one of Europe's largest providers of ATMs.

The agreement, for an undisclosed sum, will see I-Design branch into the Dutch market. YourCash has about 6,000 ATMs in the UK and 600 in the Netherlands, most of which are located at retail sites, such as supermarkets and convenience stores. The deal will see I-Design's software being used on 300 ATMs in Britain and 200 in Holland.

Ana Stewart, chief executive of I-Design, hailed the contract an "exciting opportunity", adding: "We look forward to building media revenues with YourCash, in the UK and the Netherlands."