- Crimson Tide
- 29 May 2025 10:30:14
Source: Sharecast
Crimson Tide said the renewal will deliver 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 AIM-listed group noted that the total contract value was nearly £2.0m and will exceed that if certain performance measures are met.
Crimson Tide stated its mpro5 platform 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. It also said the renewal reinforces its "hands-on service model" and its ability to scale effectively within complex, multi-site environments.
Founder and interim executive chairman Barrie Whipp said: "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."
As of 1030 BST, Crimson Tide shares had rallied 11.67% to 54.16p.
Reporting by Iain Gilbert at Sharecast.com
