4global Share News (4GBL)

(Alliance News) - 4Global PLC on Wednesday announced it was extending its contract with the Peruvian government by two years, to help facilitate Peru's ongoing school development initiative.

The London-based data, services and software company specialising in major sporting events said the contract would now expire in mid 2027, for an unspecified but "significantly higher" value than the original USD500,000 agreement.

The contract involves 4Global working alongside the UK government, as well as a number of other technical delivery partners, to support the Peruvian government's ongoing initiative to create 75 new schools.

4Global will provide its Sport Intelligence platform and data to help develop an active schools' framework, ensuring schools are "as conducive to activity as possible", as well as helping the schools to connect with local communities.

The company said its full-year expectations, which it did not detail, remain unchanged.

Chief Executive Officer Eloy Mazon said: "This extension is a powerful demonstration of the stickiness of customers once they have experienced first-hand 4Global's ability to leverage data to transform investment planning.

The continued success and repeat business we've enjoyed in Peru highlights our ability to enter entirely new markets and add substantial value through the flexibility of our data and expertise in applying it effectively. Our ongoing relationship with the Peruvian government is a key customer reference and positions us strongly to secure similar agreements in key markets like North America, where we are actively expanding our efforts."

Shares in 4Global were down 1.6% at 45.77 pence each in London on Wednesday afternoon.

By Emily Parsons, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.