Contract Wins

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 Shaun Doak, Chief Executive Officer Spencer Dredge, Chief Financial Officer Mark Braund, Chairman	Tel: [phone]
Singer Capital Markets (Nominated Adviser / Joint Broker) Philip Davies / Alex Bond / Oliver Platts Dowgate Capital (Joint Broker) Stephen Norcross / Nicholas Chambers	Tel: [phone] Tel: [phone]
IFC Advisory (Financial PR / IR) Graham Herring / Zach Cohen	Tel: [phone]

 

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