RedstoneConnect trading in line with expectations

Writer, Stock Market Wire
Friday, September 8, 2017 - 07:25

RedstoneConnect said it was 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 continued 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 commenced the global roll out of OneSpace, 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 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 UL completed in May 2017 is now fully integrated into the company and provided RedstoneConnect with excellent complementary skill sets and already made a positive contribution to the company.

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