Shares in engineering software specialist Delcam soared last week after it signed new agents for the Middle East.
The company, which supplies computer aided design programmes to toolmakers, has appointed agents in Dubai and Egypt to work across the region.
Delcam said the deal with Cairo-based Win-tech and Passtech in Dubai gave it 68 representatives in almost 50 countries.
Managing director Hugh Humphreys said the company had historically made a small number of direct sales in the region, but the agreement would have a big impact on the company.
`Middle Eastern countries are expanding their industrial activities rapidly, particularly Egypt, with its growing toolmaking capacity. In the past month we have received orders from six new customers through Win-tech,’ he said.
The appointment of additional agents was the logical next step in Delcam’s growth, he added.
`The level of enquiries we have received has grown to the point where resellers are necessary to ensure wider recognition for Delcam’s products and to maximise commercial opportunities for the group.’
Delcam shares jumped a quarter to 170p on the news, valuing the company at almost £10m. On current trading, Humphreys said the company was doing well in most regions with a lower than usual fall in the traditionally slack holiday period of the third quarter.