Ten Lifestyle wins new contract, expands an existing one
Customer loyalty platform specialist Ten Lifestyle Group has won a new mandate in the Americas, and materially developed an existing contract in the EMEA region, it announced on Monday.
The AIM-traded company said it won a new mandate to launch a new, digitally-enabled concierge programme in the Americas to premium customers in the second half of the 2023 calendar year.
Once launched, it said the new mandate was expected to achieve the equivalent of a ‘medium’ contract.
Meanwhile, it said a banking product on-sale with a corporate client in EMEA that includes its digitally-enabled concierge and lifestyle services, had proved popular with customers.
As a result, the corporate client had agreed to pay Ten “materially more” per member to drive its customer loyalty objectives.
That, the board said, was expected to grow the existing ‘medium’ contract to a ‘large’ one in the current financial year.
“Ten continues its record of retaining all material contracts for over three years,” the board said in its statement.
“These contract developments are incorporated within the board's current expectations for the year.”
At 1144 GMT, shares in Ten Lifestyle Group were up 7.06% at 96.35p.
Reporting by Josh White for Sharecast.com.