Rosslyn Data inks deal with 'high profile' logistics outfit

30th Oct 2018 09:59

(Sharecast News) - Rosslyn Data Technologies told investors on Tuesday that it had secured an analytics contract with an unnamed European logistics firm.The AIM-listed outfit said the three-year contract with one of Europe's largest logistics groups, worth more than €560,000, would provide €320,000 of anticipated revenue in its first year and €120,000 every year thereafterRosslyn, which also noted the contract contained an option for extension beyond its initial term, expects to complete initial implementation of the project within the next two months - including a complete data analytics enrichment, aggregation and dashboard service.Chief executive Roger Bullen stated the firm's win with the 'high profile' client went a long way to demonstrate the "continued demand" for Rosslyn's data services in the logistics sector.Bullen also noted the new contract would lift the group's annual recurring revenues above £5.4m.As of 0950 BST, Rosslyn shares had climbed 6.78% to 7.88p.