18 Dec 2012 07:00
18 December 2012
Redstone plc
("Redstone" or "the Company")
Contract Renewals
Redstone plc (AIM:RED.L), a leading provider of network based end to end managed services, technology and infrastructure solutions, announces a number of significant contract renewals of annuity based contracts, valued at approximately £1.5m in total.
Renewal of managed WAN for retail chain
Redstone has been awarded an extension of its existing managed WAN deal with a leading UK retail chain. The mission-critical connectivity will primarily cover the chain's high street presence with revenue of approximately £660,000 over the course of the contract.
Oracle managed service contract renewal
An English non-departmental public body has renewed its Oracle e-Business application and technical systems managed support contract. The deal is worth £352k over the course of the two year contract renewal.
Application managed service contract renewal
A major manufacturing company has renewed its 3 year managed services contract with Redstone with a total contract value of £480k.
Fraser Fisher, Managing Director Redstone Group Operations, commented "I am pleased to announce three significant contract renewals. This is a strong validation of our high quality service offering and the value our customers place on our service expertise. Furthermore, these contracts demonstrate our sales momentum and the growing annuity revenue base of the Company."
For further information, please contact:
Redstone plc Tony Weaver, CEO Peter Hallett, CFO | Tel. +44 (0)845 201 0000 |
finnCap Marc Young / Charlotte Stranner | Tel. +44 (0)20 7220 0500 |
Newgate Threadneedle Josh Royston / Hilary Millar | Tel. +44 (0)20 7653 9850
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