Crimson Tide (TIDE)

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Share Price:
3.90p
Market Cap:
17.84m
Change Today:
0.35p
Sector:
IT Hardware

Crimson Tide secures 'major' contracts in rail sector

By Iain Gilbert

Date: Tuesday 18 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Software developer Crimson Tide has secured a number of "major" contract awards in the rail sector, providing the group with more than ?600,000 of long-term contracted revenues.
Crimson Tide said on Tuesday that two major Network Rail managed stations in London had invested in its mpro5 software, while MTR Elizabeth Line had chosen to invest in the platform as their strategic workflow tool of choice.

The AIM-listed group also noted that following its "highly successful" maiden year in the train presentation area, Chiltern Railways had extended and expanded its subscription with the firm in order to cover its safety, procurement, human resources, revenue protection, security and engineering departments, resulting in "a significant" increase in monthly subscriptions.

Executive chairman Barrie Whipp said: "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.

"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."

At 0850 GMT, Crimson Tide shares were up 11.11% to 2.50p.

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 3.90p
Change Today 0.35p
52 Week High 4.00p
52 Week Low 1.58p
Volume 775,241
Shares Issued 457.49m
Market Cap 17.84m

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