Torex Retail PLC
09 February 2006
9 February 2006
TOREX RETAIL SECURES 40 MAJOR CONTRACTS TOTALLING
£36 MILLION INCLUDING TWELVE NEW LUCAS DEPLOYMENTS in 2005
Further to our pre-close trading statement issued on Monday 16th January 2006,
Torex Retail has confirmed business wins totalling £36M including twelve
significant deployments of its Lucas EPoS solutions in the financial year ending
December 2005.
The company has secured more than £20M worth of contracts in the UK and Europe
and has closed business worth in excess of $25M across Canada and the USA.
UK Success
In the UK, wins included eight major roll outs of Lucas into the existing
customer base including RD Scott, Slaters, Co-op Home Stores, Bargain Crazy,
Yeomans, Reiss, Clinkards and Texas Department Stores. Other successes included
the implementation of Lucas in Japanese department store Mitsukoshi in Regent
Street which went live in December 2005 as well as deployments of Torex's Lucas
OSM solution into Roadchef and Alpha Retail in contracts worth in excess of
£2.6M.
The company has also secured a major IT service contract with Tesco Pharmacies
worth £1.3M over five years.
The Lucas deployments further strengthen the company's worldwide market position
for its Lucas solution set of which the EPoS elements are now installed in more
than 17,000 lanes across the UK, USA and Europe.
The company's petroleum and convenience division has secured a three year £2M
support contract with Somerfield Stores Forecourt Services to support the
company's forecourt and technology equipment.
As well as continued success for Lucas, Torex Retail has also continued to build
the user base for the Power For Retail EPoS solution which it acquired when the
company purchased Anker Systems in Summer 2005. The company has deployed Power
For Retail into 35 Oddbins stores and 65 Viyella fashion outlets as well as the
continued rollout into 300 Instore outlets. In Northern Ireland, the company has
secured a major contract to deploy its Power solution into off licence chain
Russell's Cellars across 40 stores.
Within the company's hospitality operation, progress has been similarly strong
since the acquisition of XN Checkout in Summer 2005.
As well as securing a major technology refresh project with managed pub chain
Mitchells and Butlers worth in excess of £5M in the first phase, the company has
also secured business with pub company Pathfinder worth in excess of £5M over
five years to replace EPoS technology across its estate. In addition Torex has
completed its first phase rollout of electronic gaming terminals and displays
with Stanley Leisure with a deal worth to date of over £1.5M with further sites
already scheduled for 2006.
Further afield, the company has secured major wins with Casino Solei in Croatia
as well as with a major casino operator in Mexico City. The combined value of
these contracts exceeds $1M and in the Far East, the company has secured Lucas
solution wins with Adidas and the Wildlife Reserve (Asia's largest night safari)
in Singapore.
Continued European Expansion
The company has also continued to secure substantial orders across Europe
including a contract to deploy 1300 EPoS units across Netherlands textile
retailer Zeeman in outlets in the Netherlands, Germany, Belgium, and Luxemburg.
Other European successes include supermarket chain Jan Linders order for 235
touch screens running Lucas OSM and 49 back-office installations.
Torex Retail has also secured a major contract to deploy hand held terminals
running on a wireless network as completing the roll out of a new EPoS system
for Netherlands based HEMA across 330 stores in the Netherlands, Belgium and
Germany.
In Scandinavia, Norway's largest food retailer, Nordisgruppen, has selected
Torex Retail to deploy the Lucas OSM solution in a deal worth in excess of
€0.5M.
Retail and hospitality operator on the Dutch railway system, Servex, is
investing more than €1.2M to deploy Lucas OSM across 376 stations.
German discount retailer Tedi is rolling out Lucas across 520 outlets and more
than 140 have been completed to date. Tedi is planning to develop more than
1,000 new stores in Germany over the next two years.
Other successes in Europe include the decision by pan-European pharmacy
retailers Schlecker to select Torex Retail as its exclusive service and
maintenance partner responsible for managing retail technology across 13,700
outlets in a two year contract.
Major Growth in North America
Torex Retail is continuing on a programme of rapid growth across North America
and Canada with more than $25M worth of business secured in 2005 including a $7M
contract to provide New Jersey based discount store chain Stein Mart with a
comprehensive technology support programme covering EPoS upgrades and the
deployment of an enterprise data centre solution.
Californian Department store chain Mervyns is investing more than $12M in
hardware and software solutions across its estate of 275 outlets and in
addition, membership Club Warehouse BJ's has appointed Torex Retail to provide
hardware, software and support services totaling in excess of $5.5M. The company
has also completed the roll out of its Lucas EPoS solution across 40 Montblanc
outlets in the USA and Canada.
Commenting on the continued success of the business, Torex Retail's Executive
Chairman Chris Moore said, 'This series of wins demonstrates our ability to
drive organic growth within our acquired customer base as well as highlighting
how we are able to grow our offer to these customers. Importantly we have
secured a number of new name business wins and these two factors combined
illustrate the sustainability of our long term growth strategy.
'Our order pipeline is at its strongest point ever and I believe that 2006 and
beyond will see us further consolidate our UK and European market leading
position as continuing to strengthen our offering across North America.
'The integration of the businesses we have acquired is now complete and we are
currently sharing our product strategy and new approach to service and
maintenance with our customer base.
'With many retailers currently looking to replace their EPoS solutions within
the next twelve to eighteen months, I believe the outlook is excellent,' Chris
Moore added.
- ends -
Enquiries:
Torex Retail:
Chris Moore, Executive Chairman 0870 300 6061
Citigate Dewe Rogerson
Ginny Pulbrook / Seb Hoyle / Lucie Holloway 020 7638 9571
This information is provided by RNS
The company news service from the London Stock Exchange
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