Business
Contract win, trading update and webinar
Contract win, trading update and webinar.
About this update from Tpximpact Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 8337N\n Panoply Holdings PLC (The) \n 26 May 2020\n \n \n \n \n 26 May 2020\n \n \n \n \n \n The Panoply Holdings PLC\n \n \n (\"The Panoply\", the \"Group\", and the \"Company\")\n \n \n \n \n \n Contract win, trading update and private investor webinar\n \n \n \n \n \n The Panoply (AIM: TPX), a digitally native technology-enabled services company, is pleased to announce that Group business FutureGov has signed a significant digital transformation contract with a large, global philanthropic organisation.\n \n \n \n \n \n This contract, which is worth a total of US$5.2m over 14 months, will see FutureGov supporting the organisation's teams across EU capital cities to focus on and transform local government services in order to deliver better outcomes. Using its extensive experience and expertise in the digital transformation sector, FutureGov will produce bespoke, digitally-enabled community focused services that seek to address current major issues facing communities.\n \n \n \n \n \n This contract is another success for the Group in the public sector, further demonstrating the strength of the Group's offering in this field, the importance of its purpose-driven work and also its ability to continue securing significant new business wins even during this time of heightened uncertainty.\n \n \n \n \n \n Trading update\n \n \n Coming into the current financial year, the Group had a confirmed backlog deliverable in the year, including annualised recurring revenue, of approximately £15m. The contract with the philanthropic organisation is one of a number of new business wins the Group has signed in the last eight weeks (since 1 April 2020), which comprises a total value of £9.5m, the majority of which will be delivered this financial year. \n \n \n \n \n \n The Group expects to report a strong performance for the first quarter of FY21 with year-on-year organic growth on a like-for-like pro forma basis*. Margins are expected at pre-COVID-19 levels, driven by the volume of \n new work secured. Alongside this the Group expects continued profitability and strong cash generation. \n \n \n \n \n \n Whilst the uncertainty created by the COVID-19 pandemic means it remains very difficult to predict performance going forward, the Group r...