8 Sep 2017 07:00
8 September 2017
RedstoneConnect plc
("RedstoneConnect" or the "Company")
Trading Update & Notice of Results
RedstoneConnect (AIM: REDS), a leading provider of technology and services for smart buildings and commercial spaces, is pleased to announce the following trading update ahead of reporting its interim results for the six-month period ended 31 July 2017. The Company is pleased with the progress made across the business in the first half, with trading in line with management expectations.
The Company's Software Applications division continues to gain market traction, as demonstrated by the contract wins secured in the period, which have helped deliver solid growth for this division in the first half of the year. In addition, the Company has commenced the global roll out of OneSpaceTM, its real estate management software platform, across UBM's offices following the extension of its existing contract in the period. The Company's Managed Services business has also had an encouraging start to the year.
The Redstone business is seeing strong levels of customer engagement with a good pipeline of new projects. Given the project-based nature of the work for Redstone, the contribution of revenue from this division will be more second half weighted than last year.
The acquisition of Anders + Kern U.L. Limited ("A+K") completed in May 2017 is now fully integrated into the Company and has provided RedstoneConnect with excellent complementary skill sets and has already made a positive contribution to the Company.
Interim Results
The Company will be announcing its interim results for the period ended 31 July 2017 on 10th October 2017.
Mark Braund, CEO of RedstoneConnect, commented:
"We are pleased with the progress made across our business in the first half especially in the development and deployment of our software solutions services, with trading in line with management expectations.
Whilst we anticipate our performance to be largely second half weighted this year, given our pipeline of work, new business momentum and strong order book, coupled with the additional services that we have added to our offering through the acquisition of A+K, we remain confident for the full year."
Enquiries:
RedstoneConnect Plc Mark Braund (CEO) Spencer Dredge (CFO)
| via Vigo Communications |
Cantor Fitzgerald Europe (Nominated Adviser & Joint Broker) Marc Milmo / Phil Davies / Catherine Leftley / Callum Butterfield
| +44 (0)20 7894 7000 |
Whitman Howard Limited (Joint Broker) Nick Lovering
| +44 (0)207 659 1234 |
Vigo Communications (Financial Public Relations) Jeremy Garcia / Ben Simons / Antonia Pollock reds@vigocomms.com | +44 (0)20 7830 9700 |
About RedstoneConnect
RedstoneConnect is focused on technologies that make real estate more efficient and businesses more effective. Its businesses, Redstone, Connect IB, Commensus and Anders + Kern provide the infrastructure capabilities and the software applications to deliver smart building and smart workspace solutions for commercial businesses, public sector organisations, real estate owners and managers. Visit our website at www.redstoneconnectplc.com.