Condat Locks In Additional Revenue From Media Projects
Sydney, Mar 9, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") is pleased to announce its wholly-owned Berlin-based software solutions business Condat AG has secured projects for its media group valued at more than A$700K. The projects are with major German media and associated groups.
- Condat to deliver major media projects in Germany
- Revenue to be earned in 2016 and 2017
- No significant incremental costs to deliver
- Expected material impact on profitability
- Revenue in addition to Condat's initial 2016 forecast
The projects are expected to be delivered over the next 18 months with a significant portion of the revenue to be recognised during 2016.The projects are expected to be able to be delivered without any significant incremental costs being incurred by Condat. Consequently, the revenue should have a meaningful positive impact on Condat's profitability. This revenue is in addition to Condat's forecast revenue of $8m referred to in the market update released on 29 February 2016.
Invigor's Executive Chairman and CEO Mr Gary Cohen said: "These projects together with the recent UK contract win of a further $350,000 builds strong momentum for Condat and validates the value and potential to Invigor in both the short and long term."
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
| ||
|
