React continues to improve margins and operational efficiency
By Iain Gilbert
Date: Wednesday 26 Feb 2020
(Sharecast News) - Cleaning firm React Group said on Wednesday that it has traded "well" over the first five months of the trading year, with margins and operational efficiency continuing to improve.
React's chairman Gill Leates told investors at the group's annual general meeting that the company has maintained its focus on improving the quality of earnings and increasing business activity in sectors in which it provides "the greatest value".
Leates said React's progress was underpinned by recent contract wins, including an incremental ?500,000 specialist cleaning contract win in the rail sector and a ?121,000 deep cleaning contract at a London hospital.
"We are also pleased to report that a three-year framework agreement has recently been awarded by another existing client, a large housing association in the North West of England," added Leates.
The chair added that React remained confident that with rationalised infrastructure, a "well-motivated management team" and a competitive service proposition, the group had now established "a solid platform" from which it can now grow and move into "a sustainable level of profitability".
As of 0945 GMT, React shares had shot up 14.29% to 0.80p.
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