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On 2 July 2024, Checkit plc signed a new 32-month contract with an existing integrated energy company customer. This contract, valued at approximately £250,000 annually, is for Checkit to provide real-time operations management to 150 additional UK franchisees. This new agreement is additional to a contract announced on 15 April 2024 for 50 franchisees.
| Date | 2 Jul 2024 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 6751U |
2 July 2024
Checkit plc
("Checkit" or the "Group")
Contract Win
Checkit (AIM: CKT), the automated monitoring platform for operational leaders, is pleased to announce a significant expansion with an existing UK customer.
Checkit has signed a new contract with an integrated energy company to provide real time operations management capabilities to 150 additional franchisees in the UK. The sites will be installed in tranches over the duration of the 32-month contract. The full value of the contract is worth c.£250,000 annually and is additional to the contract announced on 15 April 2024 for 50 franchisees. The franchise operations for this customer represents an opportunity of twice the number of existing company owned locations globally, and Checkit is hopeful of signing further similar contracts with this customer.
Commenting on the news Kit Kyte, Chief Executive Officer, said:
"This latest win continues to validate our 'land and expand' strategy and demonstrates continued momentum in the UK. I am delighted to continue to expand our relationship with this strategic customer and I am excited by the opportunities for further expansion globally."
For further information, please visit www.checkit.net or contact:
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Checkit plc Kit Kyte (Chief Executive Officer) Greg Price (Chief Financial and Operations Officer) |
+44 (0) 1223 643313 |
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Singer Capital Markets (Nominated Adviser & Broker) Shaun Dobson / James Fischer |
+44 (0) 20 7496 3000 |
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Tavistock (Financial PR) Lulu Bridges / Katie Hopkins / Simon Hudson |
+44 (0) 20 7920 3150 |