Crimson Tide (TIDE)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

 160.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 325.00
  • 52 Week Low: 135.00
  • Currency: UK Pounds
  • Shares Issued: 6.57m
  • Volume: 2,107
  • Market Cap: £10.52m
  • RiskGrade: 209

Crimson Tide secures three-year contract with existing client

By Josh White

Date: Thursday 17 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Crimson Tide announced a "significant" three-year contract with an existing retail client on Thursday with a value of over £1m per annum, more than doubling the annual recurring revenue under the previous contract.
The AIM-traded firm said the contract included an optional break clause at month 24, although it noted that at the end of the new term, the client's relationship and contracts with Crimson Tide would have exceeded 101 years.

It said the value of the 'mpro5' product to the client had evolved from a single use case of the platform to more than 30 processes across the organisation.

"If ever there was an exemplar of how mpro5 can demonstrate its value, this well-known retailer is a beacon," said chairman Barrie Whipp.

"The expansion of use cases for our platform and associated long-term contracted revenue go hand in hand.

"At the same time, our values of partnership, dynamism and teamwork have established mutual trust with the client."

Whipp said the company's team was seeking further efficiencies by evolving mpro5 to provide solutions to both existing and anticipated requirements.

"We continue to add high quality, contracted annual recurring revenue as we increasingly expand our footprint by sector and internationally.

"The enterprise solutions we deliver drive efficiency, which is vital in today's economy.

"Accordingly, the Board believes them to be compelling and ripe for further growth."

At 1258 GMT, shares in Crimson Tide were up 15.76% at 2.37p.

Reporting by Josh White for Sharecast.com.

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Crimson Tide Market Data

Currency UK Pounds
Share Price 160.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 325.00
52 Week Low 135.00
Volume 2,107
Shares Issued 6.57m
Market Cap £10.52m
RiskGrade 209

Crimson Tide Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
49.83% below the market average49.83% below the market average49.83% below the market average49.83% below the market average49.83% below the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Income Not Available
Growth
8.43% above the market average8.43% above the market average8.43% above the market average8.43% above the market average8.43% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

Crimson Tide Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
11:54 107 @ 157.50p
08:41 2,000 @ 157.50p

Crimson Tide Key Personnel

Finance Director Shaun Mullen

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