LONDON (ShareCast) - (ShareCast News) - Parity announced the award of a recruitment managed services contract with Primark Stores on Thursday, which began on 21 March and under which Parity Professionals would provide all of the fashion retailer's contract and interim IT staff.
The AIM-traded firm said Primark Stores - an international retailer, part of Associated British Foods - was undertaking "rapid expansion" in overseas markets.

Operating more than 320 stores in Europe and America required "significant investment" in the redevelopment of its IT systems from offices in the UK and Ireland, which Parity said necessitated the need for a supplier which could deliver to the increased demands placed on the Primark IT team.

Alongside the new client award, Parity said it had also secured key contract extensions for Parity Consultancy Services post period end with the Ministry of Defence in relation to the Military Capability Output Costing System.

It also won contract extensions from British American Tobacco, and the Education and Skills Funding Agency.

The company's board said the awards provided "encouraging visibility" to its order book, helping to underwrite expectations for group growth with a total opportunity of £5.3m in the year for Parity Consultancy Services, and estimated revenues in the region of £20-25m over a three-year period for Parity Professionals.

"I am delighted with Primark's decision to choose Parity as their managed service partner for IT resources," said Parity CEO Alan Rommel.

"These awards, completed so far in 2018, demonstrate the flexibility and quality of our service, and create a fantastic platform for growth in both our staffing and consultancy businesses through the remainder of 2018 and beyond."

Andy Foskett, managing director of Parity Professionals, added that he was "extremely pleased" with the positive step for Parity Professionals, partnering with a well-established brand during a period of expansion.

"Primark is a welcome addition to recent awards in the private and public sector, adding to our success on the CCS Digital Outcomes and Specialists and Scottish Government DPS frameworks."

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