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TIDE - Crimson Tide News Story

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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 wins in the rail sector

Tue 18th February, 2020 7:00am
RNS Number : 2579D
Crimson Tide PLC
18 February 2020
 

Crimson Tide Plc

Significant contract wins in the rail sector

 

Crimson Tide Plc (TIDE) announces a series of major contract awards with the rail sector totalling in excess of £600,000 of long term contracted revenue.

Two major Network Rail managed stations in London have invested in mpro5 to not only remove the vast amount of paper from the station operations but also ensure that remedial actions raised from auditing or incidents are digitized automatically and followed through to conclusion via defined workflows.  

Following a highly successful first year of operation in the train presentation area, we are delighted to announce that Chiltern Railways, having experienced the value and benefits in their business have extended and expanded the subscription to cover safety, procurement, human resources, revenue protection, security and engineering departments resulting in a significant increase in monthly subscriptions.

Having worked with the innovation team and our partner Samsung throughout 2019, MTR Elizabeth Line have chosen to invest in mpro5 as their strategic workflow tool of choice. Initially deployed in some high priority departments and activities totally without digitization tools, the ambition over the next twelve months is to deploy across further staff replacing legacy, outdated or less functionally rich applications to make mpro5 the default workflow tool.

Barrie Whipp, Executive Chairman commented: "Within eighteen months of entering a sector, we are contracted to, or in discussions with, the majority of major players in the rail business in the UK. Our team has embraced the industry, learnt from some fantastic partners and are delivering real value day in, day out. mpro5 has a very real opportunity of becoming an industry standard tool, and from the feedback we are getting from our clients, it should be".  

 

For further information:

 

Crimson Tide plc

Barrie Whipp / Luke Jeffrey                                                                        01892 542 444

 

Arden Partners

John Llewellyn-Lloyd / Dan Gee-Summons                                              020 7614 5900

 

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

 


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