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TIDE - Crimson Tide News Story

3.15p 0.0  0.0%

Last Trade - 14/08/20

Sector
Technology
Size
Micro Cap
Market Cap £14.4m
Enterprise Value £14.8m
Revenue £2.92m
Position in Universe 1452nd / 1816

Crimson Tide PLC - Significant Contract Win

Mon 15th June, 2020 10:42am
RNS Number : 9660P
Crimson Tide PLC
15 June 2020
 

Crimson Tide Plc

Significant contract win

Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company") announces a major contract win with one of Britain's leading neighbourhood retailers. The contract for the Company's mpro5 mobile app platform, is for five years and exceeds £1.6m in total contracted revenue. In terms of gross revenue, this represents mpro5's second largest contract.

mpro5 will be used in the client's shops to handle reactive and predictive maintenance reporting. Staff will be able to use mpro5 to alert cleaning and maintenance contractors to requirements in real time. Mpro5's rich reporting, alerting and dashboard capabilities will help inform the client as to shop performance, cleanliness and safety.

mpro5's IoT (Internet of Things) module is included in this contract and will assist with supplying temperature readings, allowing jobs and flows to be scheduled automatically from sensor data. 

Barrie Whipp, Founder & Chairman, commented "mpro5 stands out as the leading mobile app platform in this sector and the bona fides and service quality that we have established served us well during the sales process. We continue to trade strongly in the current environment and the pipeline for mpro5 remains high."

 

For further information:

Crimson Tide plc

Barrie Whipp / Luke Jeffrey

01892 542 444

 

finnCap Ltd (Nominated Adviser and Broker) Julian Blunt / James Thompson - Corporate Finance Andrew Burdis - Corporate Broking

020 7220 0500

 

Alma PR

Josh Royston / Harriet Jackson

020 3405 0213

 

For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.


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