On 25 October, Crimsonwing plc issued an announcement to confirm recent media reports relating to new major international contracts that the Group has been awarded.
The announcement confirmed the contract awarded by Mothercare which had also been referred to in the Company’s interim directors’ statement published on 16 February 2012. In February, the Crimsonwing Group had announced that its was selected as the strategic partner by “ an international multi-channel retailer for a global eCommerce roll-out across 50 countries”. Crimsonwing had stated that assuming a successful solution build phase, this will result in Crimsonwing implementing over 100 eCommerce sites from mid-2012 onwards and then supporting these businesses around the clock.
The Crimsonwing Group has also recently won a joint enterprise bid with Microsoft Dynamics solution to implement an ERP solution for the Dutch company Mastermate, a wholesaler for construction-related businesses. The €2 million services contract spans over 24 months and started in September 2012.
Crimsonwing is also in discussions with Westfield to develop a global solution to help the company manage its 120 properties around the world. However, Westfield has to date only given the go-ahead to Crimsonwing to further develop the UK solution which will be utilised in one of Westfield’s properties – a shopping centre at Shepherd’s Bush in West London that comprises 450 shops.
Carlson Rezidor Hotel Group
Another relationship that has been established is with Carlson Rezidor Hotel Group who have awarded Crimsonwing the running and enhancement of its ecommerce procurement systems for purchases handling.
Interim Results & Profit Forecast
In conclusion, the announcement confirmed that Crimsonwing will soon be publishing its half-year results for the six months ended 30 September. Moreover, the announcement also noted the Crimsonwing Group is currently implementing a 3-year plan with the aim of reaching €20 million in turnover and €2 million in profit by the financial year ending March 2014.