Ten Lifestyle Group PLC Corporate Client Developments (7261O)
14 Junio 2022 - 1:00AM
UK Regulatory
TIDMTENG
RNS Number : 7261O
Ten Lifestyle Group PLC
14 June 2022
14 June 2022
Ten Lifestyle Group plc
("Ten" or the "Group")
Corporate Client Developments
Ten Lifestyle Group plc (AIM: TENG), a leading
technology-enabled, global concierge platform for the world's
wealthy and mass affluent provides the following corporate client
developments:
-- Secured a third contract with DNB Bank ASA ("DNB"), the
largest financial services group in Norway, to launch Ten's digital
concierge services to selected DNB SAGA customers. This new
programme is expected to double the size of the existing Medium
contract (1) .
-- Entered a second, three-year contract with a leading credit
card issuer in APAC, to launch Ten's concierge and lifestyle
services, including Ten's proprietary digital platform, to a new
group of the client's High Net Worth cardholders. This new
programme is expected to expand the existing Large contract and the
extra member activity will further strengthen Ten's buying power in
APAC to improve the efficiency and quality of Ten's service in the
region.
-- Won contracts with a multi-national firm and an international
technology business to launch Ten's digitally enabled concierge and
lifestyle services as an employee loyalty programme, aimed at
improving staff retention, acquisition and productivity. These
Small contracts have the potential to grow by expanding into new
regions where Ten is already established and marks Ten's return to
growth in the employee concierge vertical.
These developments, which are incorporated within the Group's
existing growth plan, are expected to launch by the end of this
financial year (31 August 2022) and are expected to further
increase the monthly request numbers
and Net Revenue (2) , which remains above pre-COVID levels (H1 2020: GBP 23.8 m).
Ten maintains its recent record of retaining 100% of its
Material contracts.
(1) Ten categorises its corporate client contracts based on the
annualised value paid, or expected to be paid, by the corporate
client for the provision of concierge and related services by Ten
as: Small contracts (below GBP0.25m); Medium contracts (between
GBP0.25m and GBP2m); Large contracts (between GBP2m and GBP5m); and
Extra Large contracts (over GBP5m). This does not include the
revenue generated from suppliers through the provision of concierge
services. Medium, Large and Extra Large contracts are collectively
Ten's "Material Contracts".
(2) Net Revenue excludes the direct cost of sales relating to
certain member transactions managed by the Group.
- End -
For further information, please visit
https://www.tenlifestylegroup.com/ or contact:
Ten Lifestyle Group Plc
Alex Cheatle, Chief Executive Officer +44 (0)20 7850
Alan Donald, Chief Financial Officer 2796
Peel Hunt LLP, Nominated Advisor and Broker
Edward Knight
Paul Gillam +44 (0) 20 7418
James Smith 8900
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading technology-enabled, global
concierge platform, helping wealthy and mass affluent individuals
and their families to discover, organise, and enjoy dining, live
entertainment, travel and premium retail (and other relevant
services) with better results and more quickly than they could
themselves.
Underpinned by industry-first technology, Ten provides its
trusted concierge services to millions of members, in over 15
languages, 24/7, 365 days a year, wherever they are in the world.
Founded in 1998, the business listed on the AIM market of the
London Stock Exchange in November 2017 (AIM: TENG).
The growth engine at the heart of Ten's business model is the
driving force behind its progress towards its objective to become
the most trusted service platform in the world.
For further information please go to: www.tenlifestylegroup.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTGPUGWQUPPPGW
(END) Dow Jones Newswires
June 14, 2022 02:00 ET (06:00 GMT)
Ten Lifestyle (LSE:TENG)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Ten Lifestyle (LSE:TENG)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024