React Group Share News (REAT)

(Sharecast News) - Cleaning and decontamination firm React Group said on Tuesday that it had been awarded a new twelve-month contract by a "prestigious" facility management client operating in the national highways sector.
React said the contract built upon a "much smaller prior arrangement", with the group now set to provide ongoing deep cleaning services to a number of sites, adding elements of new regular pre-planned maintenance services to the scope.

The AIM-listed group highlighted that the contract was worth just over £585,000, more than double the mystery customer's previous annual contract commitment with React, and will run for a period of twelve months from April through to the end of March 2022.

Chief executive Shaun Doak said: "This new agreement is testament to the excellent work performed by our specialist operatives and in particular, the way our operations manager has been able to guide and support the programme of works over the last year, ensuring our customer remained compliant during the Covid-19 pandemic.

"With this latest contract win, we highlight React's ability to secure long-term specialist contracts, helping to consolidate our customers' spend in these areas with one high-performing, efficient and cost effective provider."

As of 0840 BST, React shares were up 4.04% at 2.58p.