itim Group Ltd - London-based click-and-collect software firm - Wins contracts with an unnamed British fashion retailer, an electronics retailer, and a Brazilian pharmaceutical company. Says that these new contracts, coupled with extensions of existing contracts, will lead to an increase in annual recurring revenue of £1.8 million. Explains that at the end of the first quarter, it reaches ‘a material amount’ of its target to achieve £14 million in ARR by the end of December 2022. This would be an uplift of £2.9 million in the year.
‘We are delighted to have secured these contract wins with considerable brands in the fashion, electronics and pharmaceutical industries and it is a testament to our offering to be trusted by these companies. Additionally, demand for our services and products continues to grow across our existing customer base, with customers like Majestic Wine Warehouses Ltd, Blakemore, and COOP Brazil continuing to add extensions to their business whilst we continue to expand our pipeline of new prospects,’ Chief Executive Ali Athar comments.
Current stock price: 112.06 pence, up 5.7% on Wednesday
12-month change: down 28%
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