AGM Statement

RNS Number : 5817T

React Group PLC

21 March 2023

 

21 March 2023

REACT Group plc

("REACT", the "Group" or the "Company")

AGM Statement

REACT Group plc (AIM: REAT.L), the leading specialist cleaning, hygiene, and decontamination company, will today hold its Annual General Meeting ("AGM") at midday in the ABBOTTS SUITE , Novotel London Blackfriars, 46 Blackfriars Road, London SE1 8NZ.

Shareholders will be able to participate in the AGM via the Investor Meet Company ("IMC") platform however shareholders will not be able to vote at the meeting as voting on all resolutions was conducted by way of proxy and the deadline for proxy votes to be received has now passed. Shareholders wishing to participate in the virtual AGM should sign up to IMC for free ahead of the AGM via: https://www.investormeetcompany.com/react-group-plc/register-investor and request to meet the Company. Once registered, shareholders will automatically be emailed an invitation which they should accept in order to receive a unique link to access the AGM.

Mark Braund, Executive Chairman, will make the following statement at the AGM:

"When we announced the Group's results for the year ended 30 September 2022 in February, the Board noted the new financial year had started positively with the first quarter delivering a record performance. Notably the Group has benefitted from its ability to cross sell other business services into existing and new customers. Evidence of this is the recent contract win, with an estimated value of £800k in the current financial year, to provide services, through a coordinated programme from all three segments of the business to a large fast-service food restaurant across all its sites in the UK. This positive contract win momentum has continued, with good sales growth in all three divisions of the business.

LaddersFree, one of the largest commercial window cleaning businesses in the UK, continues to have strong sales performance with recent notable contract wins including a prestigious nationwide furniture retailer and another restaurant group with some of the UK's best known brands. LaddersFree is benefitting from a mix of national and local customers enabling it to deliver material growth for the Group.

Fidelis experienced a slightly slower start to the year but has since won some significant new contract awards. A £500k 18-month contract with a sizeable Midlands-based school has been agreed alongside numerous contract renewals which include another school worth around £540k over three years and an annual contract with an NHS Trust worth almost £200k.

The REACT business which provides a solution to often urgent one-off situations has had a steady period in which it has won new contracts to carry out high-end cleaning projects for established facilities management businesses, schools and universities. These ad hoc contracts can be valuable but by definition are less dependable.

The Group continues to benefit from further cross-selling opportunities and the pipeline of new business is strong. Whilst we are witnessing good demand for our services, the Board is continually mindful of the economic environment, particularly in the retail and hospitality sectors and therefore views the future with cautious optimism."

For more information:

REACT Group Plc Shaun Doak, Chief Executive Officer Andrea Pankhurst, Chief Financial Officer Mark Braund, Chairman	Tel: [phone]
Singer Capital Markets (Nominated Adviser / Broker) James Moat / Philip Davies	Tel: [phone]
IFC Advisory (Financial PR / IR) Graham Herring / Zach Cohen	Tel: [phone]

 

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