Castleton Technology PLC Contract Wins (1897U)

TIDMCTP

RNS Number : 1897U

Castleton Technology PLC

16 January 2017

Castleton Technology plc

("Castleton", the "Group" or the "Company")

Contract Wins

Castleton Technology plc (AIM: CTP), the software and managed services provider to the public and not-for-profit sectors, is pleased to announce that it has secured two significant new contracts; a ten year contract with Clúid Housing Association ("Clúid") in Ireland and a five year contract with Arcon Housing Association ("Arcon") in Manchester with a combined value of GBP1.8 million (the "Contracts").

The Contracts are the second and third Housing Management system wins since the Company's acquisition of Kypera Holdings Limited in January 2016 and are testament to the Company's strategy of providing a leading range of software solutions to the social housing sector, which is expected to grow significantly over the coming years to meet ever increasing housing demands.

The Contracts also include other products from Castleton's range of software products, with Clúid being the first customer to take the complete suite of software products, demonstrating the success of the Group's cross-selling strategy and proposition of being a "one stop shop" serving the social housing sector.

Dean Dickinson, CEO of Castleton, said: 'These new contracts, in particular the one with Clúid, which is our first customer to take the full suite of our products, are proof of our business model. This, combined with a healthy pipeline, means that we are well positioned to maintain our growth whilst increasing profitability by providing more of our customers with our broader range of complementary products and services.'

Anne Southern, Finance Director of Arcon said "Adopting the Castleton integrated suite of products means we can interact more efficiently with our customers, which will reduce cost and improve our service to them. The Housing and Agile Products in particular will also allow us to reshape how we deliver our front-line services to our customers, giving them the option to choose which device they use to communicate with us. As we embed these systems more deeply into the Arcon way of working, I have no doubt our customers will feel significant benefits. We look forward to our future partnership with the Castleton team who impressed us from the very beginning with their professionalism and commitment to working with us."

Brian O'Gorman CEO & Ronnie Maher, IT Director at Clúid Housing said "Over the past two years, Clúid has developed a strong working relationship with Castleton, which has resulted in a number of projects being successfully delivered across the business. This success has prompted us to move to the next stage of growth. Clúid has been seeking an innovative supplier to work in partnership to deliver its corporate strategy and ambitious business plan. The partnership heralds a cultural change in our way of working. It provides access to the best products and gives the business a significant competitive advantage. It enables the full integration of all operations across the entire business, delivering untold efficiency. The success of this project is underpinned by the flexibility, understanding and willingness of Castleton and Clúid Housing to work together to identify the best solutions and deliver value for money for Clúid, our stakeholders and most importantly our customers."

 
 Enquiries: Castleton Technology      Tel. +44 (0)845 
    plc                       241 0220 
    Dean Dickinson, Chief 
    Executive Officer 
    Haywood Chapman, Chief 
    Financial Officer 
   finnCap                   Tel. +44 (0)20 
    Jonny Franklin-Adams      7220 0500 
    / Simon Hicks 
    MXC Capital Markets       Tel. +44(0)20 
    LLP                       7965 1849 
    Marc Young / Charlotte 
    Stranner 
   Alma PR                   Tel. +44(0) 
    Josh Royston              7780 901979 
 
 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 16, 2017 02:00 ET (07:00 GMT)