Business Update

RNS Number : 8608C

RedstoneConnect PLC

25 January 2018

 

25 January 2018

RedstoneConnect plc

("RedstoneConnect" or the "Company" or the "Group")

Business Update

RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, announces that trading for the year ending 31 January 2018 is expected to be in-line with the board's expectations.

All three of the Group's business divisions (Software, IT Managed Services and Systems Integration) have traded strongly in the second half of the financial year.

During the period the Company has successfully secured a number of contract wins and smart infrastructure consultancy mandates. These included a consultancy project for a leading multinational banking and financial services company to determine how best to utilise OneSpace™, RedstoneConnect's agile workspace occupancy management software solution, within its London headquarters. 

In addition, RedstoneConnect secured a number of further contract wins in the Financial Services and Real Estate sectors for projects seeking to ascertain how enterprises can best utilise location-based services from the RedstoneConnect software portfolio.

The Company has successfully developed its first independently deployable module of OneSpace™, OneSpaceLink. This Microsoft add-in is an integral part of OneSpace™ and the Connect platform, enabling employees to sync their Outlook calendar with OneSpace™ for effective meeting room and desk management. OneSpaceLink expands the addressable market of OneSpace™ which, until now, was limited to larger enterprises, to include small and medium sized businesses. The initial market response and orders placed for OneSpaceLink are encouraging.

RedstoneConnect continues to deliver a strong level of contract momentum within its network infrastructure and managed IT services division, securing a number of multi-million pound contract renewals during Q4, along with several new business wins.

The Company expects to publish a trading update for the year ended 31 January 2018 in late February 2018.

Mark Braund, CEO of RedstoneConnect, commented:

"We are delighted to have secured a number of important contract wins across both our smart software solutions and network infrastructure divisions, building on the considerable momentum we have achieved across the business in the current financial year.

"Having successfully deployed our solutions in some of the smartest buildings and spaces in Europe, our team is now optimally placed to support a growing number of customers as they seek to understand how the implementation of smart software can significantly improve both the utilisation of their real estate and the working environment for their employees."

Enquiries:

RedstoneConnect Plc Mark Braund (CEO) Spencer Dredge (CFO)	via Vigo Communications
Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker) Marc Milmo/Phil Davies/Catherine Leftley	[phone]
Whitman Howard Limited (Joint Broker) Nick Lovering	[phone]
Vigo Communications (Financial Public Relations) Jeremy Garcia / Ben Simons / Antonia Pollock [e-mail]	[phone]

About RedstoneConnect

RedstoneConnect is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB, Commensus and Anders + Kern provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers. Visit our website at www.redstoneconnectplc.com.

 

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