Business
Contract Wins & Trading Update
Contract Wins & Trading Update.
About this update from Croma Security Solutions Group Plc
[{"type":"text","content":"\n \n \n \n This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n 15 September 2022\n \n \n \n \n \n \n \n \n CROMA SECURITY SOLUTIONS GROUP PLC\n \n \n \n (\"CSSG\" or the \"Company\")\n \n \n \n Major Contract Wins & Trading Update\n \n \n \n \n \n \n Croma Security Solutions Group Plc, the total security services provider, is very pleased to announce four new contract wins worth £6.1 million in annual revenue (equivalent to 17% of Group total sales) and confirmation that the Group expects to announce Final Results for the 12 months to 30 June 2022 in late October and deliver EBITDA of at least £1.5 million.\n \n \n \n Contract Wins\n \n \n \n Croma Vigilant, the manned guarding division, has won a competitive three year contract with a major London property manager worth £5.0 million per annum. A substantial contract under which Croma Vigilant will provide manned guarding services across a portfolio of commercial properties in central and greater London. In addition, the same London property manager has awarded Croma Vigilant's PROception business a three year contract, worth £0.5 million per annum, to provide its front of house services\n which incorporates the buildings reception into the overall security strategy.\n The contracts together are worth £5.5 million per annum and both have the option to be extended for another 2 years.\n \n \n The third contract also won by Croma Vigilant, is a three year security contract to provide manned guarding services for a large retail space in the North East of\n England worth £0.4 million per annum.\n \n \n The fourth contract is for the innovative\n iLOQ product and worth £0.3 million per annum together with ongoing maintenance support fees. The customer is a well-known UK company in the education sector and this order is the first of an expected series of orders.\n \n \n iLOQ, is a battery free digital door lock opened by smartphone and also powered by the mobile phone opening it. In October 2021, Croma formed a strateg...