Crimson Tide agrees 12-month extension to Cadent Gas contract

(Sharecast News) - Crimson Tide said on Friday that it had agreed a 12-month uplifted extension to its contract with Cadent Gas, the UK's largest gas distribution network, taking the agreement through to 30 September 2027. The AIM-traded company said the extension represented annual recurring revenue of £486,000, up 4% on the previous contract, with Cadent continuing to use Crimson Tide's mpro5 operational compliance platform across its day-to-day workflows.

Chief executive Jon Clarke said the renewal demonstrated the "mission-critical role" mpro5 played in supporting large, complex enterprises, adding that extensions with major customers were central to the company's retention strategy and provided "a strong, recurring foundation for future growth".

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate