RedstoneConnect Plc (LON:REDS), a leading provider of technology and services for smart buildings and commercial spaces, has today announced the following trading update ahead of reporting its interim results for the six-month period ended 31 July 2017. The Company is pleased with the progress made across the business in the first half, with trading in line with management expectations.
The Company’s Software Applications division continues to gain market traction, as demonstrated by the contract wins secured in the period, which have helped deliver solid growth for this division in the first half of the year. In addition, the Company has commenced the global roll out of OneSpaceTM, its real estate management software platform, across UBM’s offices following the extension of its existing contract in the period. The Company’s Managed Services business has also had an encouraging start to the year.
The Redstone business is seeing strong levels of customer engagement with a good pipeline of new projects. Given the project-based nature of the work for Redstone, the contribution of revenue from this division will be more second half weighted than last year.
The acquisition of Anders + Kern U.L. Limited (“A+K”) completed in May 2017 is now fully integrated into the Company and has provided RedstoneConnect with excellent complementary skill sets and has already made a positive contribution to the Company.
Interim Results
The Company will be announcing its interim results for the period ended 31 July 2017 on 10th October 2017.
Mark Braund, CEO of RedstoneConnect Plc, commented: “We are pleased with the progress made across our business in the first half especially in the development and deployment of our software solutions services, with trading in line with management expectations.
Whilst we anticipate our performance to be largely second half weighted this year, given our pipeline of work, new business momentum and strong order book, coupled with the additional services that we have added to our offering through the acquisition of A+K, we remain confident for the full year.”
