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ClearStar on track for significant revenue growth

By BFN News | 09:29 AM | Monday 12 October, 2015

ClearStar, the technology and service provider to the background check industry, is on track to report significant growth in revenues for the year, broadly in line with market expectations. The group says it is also on target to achieve EBITDA around breakeven for H2, as stated previously. The group says that as stated in the H1 results announcement on 22 September, it entered the second half of 2015 with a greater sales pipeline than at the same point in the prior year and progress was maintained in all of its divisions. In particular, the Direct Services division continued to expand its customer base, including winning a contract, as previously announced, with one of the world's largest cash handling services companies. The contract is already at a revenue run rate of approximately $250,000 on an annualised basis. As previously stated, in the third quarter the Company's Global Division was awarded its first multilingual order, in France, for employment and residential screening. Significantly, ClearStar continued to progress the implementation of a customised, white-labelled solution for a world-renowned, leading global risk management consultancy headquartered in the UK, and the contract is due to commence generating revenue in Q4 2015. At 9:29am: (LON:CLST) Clearstar Inc share price was -1.5p at 42.5p (LON:CLSU) Clearstar Inc. Ord Usd0.0001 Di share price was -1p at 43.5p Story provided by

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