Invigor gains data intelligence government contract
Invigor Group Limited (ASX:IVO) has secured a new contract valued at $100,000 for stage one of IPART’s data requirements for its review of the Container Deposit Scheme (CDS).
IPART is an independent pricing and regulatory tribunal, which oversees the regulation of the beverage, gas, electricity and transport industries in New South Wales.
The body will utilise IVO’s extensive data on alcoholic beverage pricing – which includes seven years of historical data – to assess the impact of the CDS on container beverage prices, the performance and conduct of suppliers and other factors which could impact consumers.
Because stage one of IPART’s analysis will be geared around historical data, the contract will generate instantaneous revenues for IVO, which is strongly positioned to clinch stages two and three of the contract moving forward.
The freshly inked contract is a significant development for the analytics solutions company, which has continued its strong track record of winning large revenue-generating data intelligence contracts.
With an exceptional pipeline of upcoming tenders mounting, IVO expects additional tender-to-contract conversions over the rest of 2018.
Of course, it should be noted that Invigor is still a speculative stock and anything can happen. Investors should seek professional financial advice if considering this stock for their portfolio.
IVO CEO Gary Cohen commented on the new contract, “Our steady growth of locking in new and larger revenue-generating data intelligence and analytics contracts with blue chip customers, recognised brands and government departments is continuing in 2018,” he said.
“It’s a pleasing contract win, and we’re delighted to be working with the NSW Government as it gives us great exposure across this large sector and positions us as a dependable and credible public sector technology provider.”