Universe Group PLC - Southampton, Hampshire-based retail management solutions, payment and loyalty systems provider - Wins three-year extension of an existing contract with an "major" UK based supermarket involving the provision of forecourt payment capabilities.
"This material contract extension provides further visibility for the group over future revenues. As previously indicated, the group had prepared for its fulfilment by acquiring inventory in anticipation which will now unwind as the contract is implemented," company says.
Notes it has continued to trade in line with the internal expectations for the year to date.
Says Ivan Brooks steps down from his interim chief executive officer role after new chief executive, Neil Radley and new chief financial officer, Adrian Wilding both joined the firm on May 1.
Radley says: "The company has undergone significant internal changes over the last two months and it is good to see that the momentum of the business has not been affected. It is very encouraging to see one of our major retail partners renewing their multi-year relationship with us, a good indication of our standing within the market.
"Adrian and I continue to review the business and its strategy and we look forward to providing more detailed guidance on the route map at the time of the release of the company's interim results in September 2021."
Current stock price: 5.20 pence, up 2.9% on Friday
Year-to-date change: up 33%
By Paul McGowan; paulmcgowan@alliancenews.com
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