(Sharecast News) - Data, services, and software company 4Global announced a one-year variation to the third year of its four-year Sport England Moving Communities contract.
The AIM-traded firm said the multimillion-pound contract, executed in partnership with Right Directions, Active Insight, and Sheffield Hallam University, represented a significant milestone with a substantial portion of the associated revenue set to be delivered and recognised in the current financial year.
Launched in March 2021, Moving Communities was described by the company as a pioneering UK initiative designed to analyse data from the local leisure sector.
The project was conceived to support the National Leisure Recovery Fund, which received £100m in government funding to aid the leisure sector in recovering from the challenges brought on by the Covid-19 pandemic.
Under the contract variation, 4Global would be crucial in gathering and analysing data to support local authorities, leisure providers and policymakers.
By comprehensively assessing performance and comparing it with national, operational and neighbouring benchmarks, the initiative was intended to provide invaluable insights.
The company said the insights would serve as a cornerstone for making strategic decisions, guiding the allocation of time, effort, and resources to areas where they were most needed in a bid to benefit local communities and target audiences requiring assistance.
Additionally, the contract variation represented a substantial expansion of 'Moving Communities Place'.
That expansion, the board explained, would extend data collection efforts deeper into communities, offering unparalleled insights into sport and physical activity participation.
It would focus mainly on areas within Sport England's investment, paving the way for well-informed decisions and transformative actions that promise to impact communities across the UK positively.
"We are excited about this continued partnership and the positive impact it will have on our communities," said chief executive officer Eloy Mazon.
"Together, we are shaping a healthier, more active future for all."
Mazon said the purpose of the contract was to provide up-to-date and meaningful data and insight to inform decisions that would help to get communities moving.
"We are encouraged by Sport England's forward thinking approach to data and the insights that can be generated for governments and cities as it provides a template and opportunity to replicate 4Global's services in other territories in the world."
At 1343 GMT, shares in 4Global were down 2.56% at 57p.
Reporting by Josh White for Sharecast.com.
4global (4GBL)