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Crimson Tide PLC on Monday said it has won a new three-year contract with a ‘national’ supplier in the utilities sector.
Crimson Tide is a Tunbridge Wells, Kent-based provider of the mpro5 solution, a mobile workforce management tool.
Shares were up 14% to 2.50 pence each in London on Monday morning.
The contract, worth £1.4 million, is for an initial term of three years and was won following a ‘competitive’ tender process.
The client will roll-out Crimson Tide's mpro5 solution to digitise processes across its network, covering the north east of England, Midlands, Yorkshire, the east of England, and north London.
‘mpro5 will be used to ensure data integrity, speed of process and to provide real-time job availability alerts, significantly reducing the total time to complete work whilst capturing evidence required to prove a compliant and safe process,’ Crimson explained.
Chair Barrie Whipp said: ‘The new contract demonstrates mpro5's ability to provide solutions across many vertical markets and will act as a beacon for us in the utilities sector, which we can now address in Europe and the US.’
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