Clarity signs €1.8m EuroPalaces deal

22nd Nov 2010 08:44

Shares of Clarity Commerce Solutions stormed ahead after it signed a deal worth over €1.8m with cinema operator EuroPalaces.The group, which provides software solutions to the hospitality, retail, leisure and entertainment sectors, said the contract is for the ClarityLive/TIMS 2010 ticketing system and is worth more than €1m of licence licence and hardware sales. A further €0.8m will follow from support and maintenance over the next three years.In a separate statement Clarity posted a loss of £0.8m for the six months ended 30 September 2010 compared to a profit of £0.3m a year earlier. Turnover was £9.5m compared to £8.8m before. However a stronger second half is expected, underpinned by strong sales pipeline with several key orders already secured, the group said in a company statement.The group remains confident of meeting full year expectations. CEO Ken Smith commented, "Our financial results at this interim stage are disappointing."However he added, "Significant new business wins, which slipped into H2 have been announced today and with our enhanced ClarityLive product suite, underpinned by new sales and operational management structures, our business is now well placed to address significant market opportunities."