Crimson Tide (TIDE)

Share Price:
3.40p
Market Cap:
15.55m
Change Today:
0.000p
Sector:
IT Hardware

Crimson Tide secures long-term contract with leading supermarket

By Iain Gilbert

Date: Tuesday 01 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Business solutions provider Crimson Tide has scored a significant long-term contract win with an unnamed leading supermarket.
Crimson Tide's contract for its mpro5 solution with "one of the country's leading retailers" on Tuesday guaranteed it contracted revenues of at least 1.4m over the agreement's 36-month term, while a previous, smaller contract with the client containing hardware, reached its term and was now included on a Software-as-a-Service only basis within the new contract.

The mpro5 platform will now be used in nearly 4,000 retail locations across the UK and Ireland alone, with the AIM-listed group highlighting international expansion potential within the deal.

Chairman Barrie Whipp said: "Having gained visibility at C-level with this retailer, we are excited by the international potential for this client in future years.

"This contract is indicative of our enterprise-class pipeline that we have invested in strategically, and I am pleased that our unrivalled platform capability has given this client a significant return on investment with mpro5."

As of 1015 BST, Crimson Tide shares had shot up 15.56% to 2.60p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Crimson Tide Market Data

Currency UK Pounds
Price 3.40p
Change Today 0.000p
52 Week High 3.95p
52 Week Low 1.58p
Volume 101,246
Shares Issued 457.49m
Market Cap 15.55m

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