Invigor gains $520k in new contracts in Australia
Invigor Group Limited (ASX:IVO) has continued its recent string of promising news flow, informing the market that it has secured a further $520,000 in contracts.
Carlton & United Breweries (CUB) will use the company's array of intuitive solutions to drive growth. The announcement is a strong vote of confidence for IVO’s Pricing and Loyalty solutions.
CUB, which is a subsidiary of AbinBev (the world’s largest brewer at $135 billion market cap), is Australia's leading brewer, producing several popular beverages including Carlton Draught and VB.
Under the one year contract, CUB will have access to IVO’s historical pricing and promotional data as well as real-time competitive pricing intelligence across the Australian liquor market. It has also signed a new contract for IVO’s Loyalty solution at Manly Wharf and other venues.
As a result, CUB will become more data driven and utilise IVO’s unique data to drive strategic decisions moving forward.
This makes a substantial dent in the additional $1.35 million revenue IVO expects to secure this quarter, and contributes positively to the $2 million of Annualised Recurring Revenue (ARR) reported.
IVO’s pricing solution was awarded “Best Pricing and Promotion Analytics” at the recent NORA Solution Provider Excellence Awards.
The company concluded its update by indicating that further contracts are expected in the coming weeks.
IVO CEO Gary Cohen commented on the announcement, “These latest contracts underpin our growing ARR streams, an important measure of performance. So too does our ability to lock in contacts with recognised brands and large companies like CUB.
“It reflects the dependability of appeal of our solutions. Solid progress is being made in line with the business strategy across Australia and also in Asia, especially as a result of the partnership with Winning Group. We look forward to reporting on progress immediately.”