(Alliance News) - React Group PLC shares jumped on Thursday, after it said it has won a multi-year contract to perform deep cleaning, window and facade cleaning across around 350 mainland UK locations for a "prestigious high-street fast-food chain."
Shares in the Birmingham, England-based cleaning, hygiene and decontamination firm were up 4.8% to 1.10 pence each in London on Thursday morning.
React explained that this contract has come as a direct result of cross-selling its complementary service offerings to an "established customer" of LaddersFree Ltd. LaddersFree, a commercial window cleaning business, was acquired in May 2022.
Under the two year agreement, React will perform up to two deep cleans per year.
It will be fulfilled by a team from all three divisions of the React. "LaddersFree will focus on cleaning the windows and facades, while Fidelis and REACT will provide internal specialist deep cleaning," the company explained.
React added that the value of work in the current financial year, ending September 30, is expected to be around GBP800,000.
Chief Executive Shaun Doak said: "This contract award highlights the value of the group's ability to deploy consistently high standards of specialist cleaning across multiple sites in the UK. It comes as a result of combining the quality of the relationships that LaddersFree has with its customers, with the strength of expertise and consultative approach to deliver effective, cost efficient specialist cleaning services, offered across the group."
By Sophie Rose; Alliance News reporter
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React Group (REAT)