4th Dec 2015 07:58
LONDON (Alliance News) - Mobile data products company Crimson Tide PLC on Friday said the roll-out of a contract it secured in September with an unnamed major retailer has started earlier than anticipated.
In September, Crimson Tide signed a major contract for its mpro5 enterprise smartphone and tablet apps worth around GBP1.1 million over three years.
The company said the roll-out had been expected to start by the end of 2015 and ramp-up in 2016, but the company said the roll-out has already commenced and has progressed at a faster pace than envisaged.
It now expects the roll-out to be completed by the end of 2015, meaning revenue will accrue earlier than expected. As a result, Crimson Tide expects to book a full year of revenue from the deal in 2016.
"Our client has seen the benefits of mpro5 quickly and instructed us to roll out faster than we originally contemplated. I am pleased that our growing book of contracted revenues has been enhanced and our planning for 2016 is based upon ever more solid foundations," said Executive Chairman Barrie Whipp.
By Sam Unsted; [email protected]; @SamUAtAlliance
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