Trading Update

RNS Number : 0773Q

Crimson Tide PLC

25 February 2016

 

CRIMSON TIDE PLC

("Crimson Tide" or "the Company")

Trading update

Crimson Tide (TIDE), the AIM-quoted provider of mpro5 - Smart Mobility as a Service, is pleased to give this trading update in respect of its performance for the year ended 31 December, 2015.

The Company expects that Profit before Tax will be higher than market expectations and significantly higher than for the previous year. Turnover is expected to be in line with market expectations.

Trading in the early part of 2016 has been robust and has seen a number of new transactions being progressed both in relation to contract wins announced in 2015 and also new subscriber transactions for the core mpro5 service. In addition, new pilots are being rolled out in respect of potentially significant client contracts.

The Directors are confident of further growth during 2016 and beyond.

Barrie Whipp, Executive Chairman, commented: "The Company made significant strides in 2015, which was demonstrated by growth in subscribers, profits and contracted future revenues. We have created real traction in our market and have become the service provider of choice for many blue chip organisations. We are looking forward to driving the business forward and have exciting opportunities in front of us."

For further information, please see www.crimsontide.co.uk / www.mpro5.com or contact:

  Crimson Tide plc

  Barrie Whipp                            01892 542 444

  Steve Goodwin

  W.H. Ireland Limited

  James Joyce /                          020 7220 1666

  James Bavister   

Allerton Communications

Peter Curtain                            020 3137 2500

                                               [e-mail]

Notes to editors

Founded in 1996 and quoted on AIM since 2006, Crimson Tide plc is the provider of mpro5 - Smart Mobility as a Service (SMaaS).  mpro5 is delivered on smartphones, tablets and PDAs, and enables companies to transform their businesses and strengthen their workforces.

Crimson Tide offers a global service, working for some of the world's leading companies, including Nestlé, Metro and Tesco, and Crimson Tide tailors mpro5 to suit customer needs. Developed over 10 years by its world-class team, mpro5 is the smart choice for organisations large and small that want to improve productivity and save money.

mpro5 is a platform-agnostic mobility suite fully hosted on Microsoft Azure, so customers are quickly up and running and the service is scalable and robust. It is provided on subscription, so clients can immediately see a return on their investment.

mpro5 not only helps people improve their day-to-day working methods while saving employers money, it also saves lives, by enabling haemophilia patients to verify the safety of their medication before use. mpro5 clients come from a diverse range of industries allowing the Company to  listen, share and find the best solution for all mobility needs.

 

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