Contract Renewal with Major British Supermarket
Major British supermarket renewed three-year contract worth nearly £2m, delivering £660k annual recurring revenue in year one.
- Annual Recurring Revenue (year one) £660,000
- Total contract value nearly £2m
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Crimson Tide plc (AIM: TIDE), the provider of the process management platform mpro5, is pleased to announce that a major British supermarket has renewed its contract with the Company for a further three years. There is a break clause in the event of unsatisfactory service performance after one year.
The renewal delivers Annual Recurring Revenue of approximately £660,000 in the first year and includes the potential for uplift beyond year one, based on performance and evolving requirements. The total contract value is nearly £2m and will exceed that if certain performance measures are met.
mpro5 will continue to support the retailer's transition from paper-based processes, driving improvements in compliance, food safety, and operational execution across hundreds of locations. The renewal reinforces Crimson Tide's hands-on service model and its ability to scale effectively within complex, multi-site environments.
Barrie Whipp, Founder and Interim Executive Chairman of Crimson Tide, commented:
"We are proud to continue our relationship with one of Britain's most recognised retail brands. Their ongoing trust in mpro5 reflects the platform's strength in delivering measurable operational improvements at scale.
The Board views this renewal as a key validation of mpro5's impact within the retail sector and remains confident in the opportunity to drive further expansion within this client and across the industry."
| Crimson Tide plc | +44 1892 542444 |
Barrie Whipp, Interim Executive Chairman Peter Hurter, Chief Financial Officer
| Cavendish Capital Markets Limited (Nominated adviser and Broker) | +44 20 7220 0500 |
Julian Blunt / Callum Davidson - Corporate Finance
Andrew Burdis - Corporate Broking
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.