REACT Group Plc (LON:REAT), the leading specialist support services provider to the FM industry, will hold its Annual General Meeting today at 11:30 a.m. at the offices of Singer Capital Markets, 1 Bartholomew Lane, London, EC2N 2AX.
Mark Braund, REACT Group Executive Chairman, will make the following statement at the AGM:
“We are pleased to report that the Group is continuing to perform well in challenging market conditions. Sales and marketing initiatives have yielded positive returns across each of the divisions and the ongoing pipeline of new business remains robust as we seek to address reduced customer activity and invest in specific projects to drive growth and operational efficiencies.
“The Board is particularly pleased with the resilient performance and integration of the recently acquired 24hr Aquaflow Services which completed at the end of October last year. The demonstrable success of this business was highlighted by the recent announcement of a new 12-month contract to provide contracted commercial drainage services to an FM sector customer on behalf of a landmark site in Central London.
“The Group continues to benefit from the considerable cross-selling and upselling opportunities between each division. Whilst the uncertain macroeconomic backdrop has resulted in reduced frequencies of certain contracts, strong underlying demand remains for the Group’s offering and our customers continue to seek the best-in-class service that we proudly provide.
“We are also pleased to report that Project ‘Sparkle’, the development of a unified digital platform to automate, support and scale our nationwide commercial window cleaning business and our ability to cross-sell other relevant services bought by the same customers, and potentially delivered by the same membership resource throughout the Group, is progressing extremely well and the Board is delighted with the outcomes that are being created.
“The Board remains mindful of the market headwinds highlighted in its FY24 results but continues to have confidence in the resilience of our divisions. Its focus on mid-market opportunities with shorter decision-making lead times positions the Group well to expand its small share of large, fragmented markets. This is demonstrated by the recent award of contracts across the Group with well-established, high-profile customers who value the services we provide.”
