REG - React Group PLC - Contract Wins

ReactAnnouncement

04/04/2024 07:00

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RNS Number : 2375J  React Group PLC  04 April 2024

4 April 2024

 

REACT Group plc

 

("REACT", the "Group" or the "Company")

 

Contract Wins

 

REACT Group plc (AIM: REAT.L), the leading specialist cleaning, hygiene, and
decontamination company, is pleased to announce that it has been awarded three
material contracts totalling over £1.3m annually. All three contracts have
been or are being mobilised during the month of April 2024.

 

The contracts include the renewal and expansion of a Facilities Management
('FM') soft services agreement with an NHS trust in the Midlands.  The
agreement is for a minimum three-year term with an option to extend to five
years.  The three-year value of the agreement is c.£785k and represents a
c.30% expansion of services from the previous agreement.

 

The Company has also extended for a further two years the Core Vendor
agreement it established three years ago with the UK operation of one of the
world's largest FM companies.  Within the extension is a new incremental
agreement to provide crime scene cleaning for a large UK Government agency,
with a history of spending c.£500k per year on reactive specialist cleaning.

 

The Company has also been successful in being awarded a new agreement with a
leading UK FM business to provide a single point of service delivery for
emergency decontamination services to its customers, some of whom are well
known, recognisable brands.  The incremental revenue opportunity is in the
region of c.£500k per year.

 

Shaun Doak, Chief Executive Officer, commented:

 

"We are delighted that the Company has continued its trading momentum winning
new customers and expanding its services with existing ones. These three
material contracts have been awarded in addition to a stream of small and
medium sized wins which demonstrates both the demand and the cross selling
opportunities for our services and as such, underpins our confidence in FY
2024 performance.."

 

 

 

For more information:

 

 REACT Group Plc                             Tel: +44 (0) 1283 550 503

 Shaun Doak, Chief Executive Officer

 Spencer Dredge, Chief Financial Officer

 Mark Braund, Chairman

 Singer Capital Markets                      Tel: +44 (0) 207 496 3000

 (Nominated Adviser / Joint Broker)

 Philip Davies / Alex Bond / Oliver Platts

 Dowgate Capital                             Tel: +44 (0) 20 3903 7715

 (Joint Broker)

 Stephen Norcross / Nicholas Chambers

 IFC Advisory                                Tel: +44 (0) 20 3934 6630

 (Financial PR / IR)

 Graham Herring / Zach Cohen

 

 

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