Contract Win

RNS Number : 8733H

React Group PLC

11 April 2022

 

11 April 2022

REACT Group Plc

("REACT" or the "Company")

Contract win

REACT (AIM: REAT.L), a leading specialist cleaning, hygiene, and decontamination company, is pleased to announce it has been awarded a 3-year contract to perform regular facilities maintenance cleaning at a new customer in the education sector.

The contract begins at the end of May 2022 and has a total value for the 3-year term of c.£0.7m.  The contract includes a price increase mechanism each year to provide for future increases in the cost of labour and materials.  The contract will be fulfilled by Fidelis, the division within REACT focused on regular facilities maintenance cleaning.

Shaun Doak, Chief Executive Officer, commented:

"I am delighted for the team winning this prestigious new account.  It comes as a result of our growing strength in customer satisfaction and references in the education sector, which would not be possible without the great work performed by our professional operators at the sharp end of the business. This contract builds upon our strategy of increasing recurring revenues in resilient markets such as education and healthcare to complement our ad-hoc and specialist reactive work.

It is also especially pleasing as this is the first major deal closed by Sam Hayward, who recently joined REACT as group head of business development."

For further information:

REACT Group PLC

Shaun Doak, Chief Executive Officer   Tel: [phone]

Allenby Capital Limited (Nominated Adviser and Broker)

Nick Athanas / Liz Kirchner (Corporate Finance)

Amrit Nahal / Tony Quirke (Sales & Corporate Broking)   Tel: [phone]

 

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