Gentrack Group, a specialist in software for utilities and airports, has announced the signing of a “substantial contract” with a large water utility in the UK to implement its Velocity Billing and CRM software.
Gentrack Group Chairman John Clifford reaffirmed the Board’s FY15 guidance provided in May.
“This contract is one of the two deals mentioned in our half year guidance which we had expected to secure earlier in the year,” he says.
“We continue to make progress towards signing the other contract with an energy utility in Australia.
“We are not yet in a position to refine our profit guidance of EBITDA between NZD$13.0m and NZD$15.5m for the year to 30 September 2015, which is dependent on signing the remaining contract and other license transactions under negotiation.”
Gentrack’s latest R&D includes a strong focus on delivering new software capabilities to support water retailers in the UK where over 1.2 million businesses will soon have the ability to choose their water retailer.
The above implementation project is expected to be completed in early 2017.