REACT Group plc (LON:REAT), the leading specialist cleaning, hygiene, and decontamination company, has announced that it has been awarded three material contracts totalling over £1.3m annually. All three contracts have been or are being mobilised during the month of April 2024.
The contracts include the renewal and expansion of a Facilities Management soft services agreement with an NHS trust in the Midlands. The agreement is for a minimum three-year term with an option to extend to five years. The three-year value of the agreement is c.£785k and represents a c.30% expansion of services from the previous agreement.
The Company has also extended for a further two years the Core Vendor agreement it established three years ago with the UK operation of one of the world’s largest FM companies. Within the extension is a new incremental agreement to provide crime scene cleaning for a large UK Government agency, with a history of spending c.£500k per year on reactive specialist cleaning.
The Company has also been successful in being awarded a new agreement with a leading UK FM business to provide a single point of service delivery for emergency decontamination services to its customers, some of whom are well known, recognisable brands. The incremental revenue opportunity is in the region of c.£500k per year.
Shaun Doak, REACT Group Chief Executive Officer, commented:
“We are delighted that the Company has continued its trading momentum winning new customers and expanding its services with existing ones. These three material contracts have been awarded in addition to a stream of small and medium sized wins which demonstrates both the demand and the cross selling opportunities for our services and as such, underpins our confidence in FY 2024 performance..”
