Sign In
22 Apr 2013 07:00
22 April 2013
Artilium plc
("Artilium" or the "Company")
KPN commitment for the coming two years yields a stable base for Artilium business and secures Euro 3.3 million in cash this month
Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, reports a significant commitment by its largest customer securing its relation for the coming two years.
KPN Group Belgium has decided, given the partnership and improved customer satisfaction, to make a commitment to Artilium for the services it is due to receive over the next two years. As a result, Artilium has secured a cash payment to be effected this month of approximately Euro 3.3 million for revenue which will be recognised in equal instalment over the next eight quarters.
Patrick Morley, Chairman, commented:
"This commitment by KPN Group Belgium clearly shows Artilium delivers quality of service to its customers. Based on this positive result with our largest customer we feel confident that we can expand our managed services business further. Our approach remains unchanged and the cash payment will be used to improve our working capital position."
For further information please contact:
Artilium PLC: | +32 (0)50230300 |
Patrick Morley - Non-Executive Chairman, Willem Van Den Brink - CEO - Executive Director Maarten Bisseling - Executive Director Jean-Paul Menke - Non- Executive Director | |
| |
Westhouse Securities: | +44 20 7601 6100 |
Antonio Bossi Henry Willcocks
| |
Follow the stocks
