{"id":2300,"date":"2022-06-21T12:37:14","date_gmt":"2022-06-21T12:37:14","guid":{"rendered":"https:\/\/tenlifestylegroup.com\/?p=2300"},"modified":"2022-06-22T11:26:07","modified_gmt":"2022-06-22T11:26:07","slug":"growth-from-more-contracts-secured","status":"publish","type":"post","link":"https:\/\/tenlifestylegroup.com\/2022\/06\/21\/growth-from-more-contracts-secured\/","title":{"rendered":"Growth from More Contracts Secured"},"content":{"rendered":"\n<p>Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global concierge platform for the world&#8217;s wealthy and mass affluent&nbsp;provides the following corporate client contract developments:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Secured a third contract with DNB Bank ASA (&#8220;DNB&#8221;), the largest financial services group in Norway, to launch Ten&#8217;s digital concierge services to selected DNB SAGA customers. This new programme is expected to double the size of the existing Medium contract<sup>1<\/sup>.<\/li><li>Entered a second, three-year contract with a leading credit card issuer in APAC, to launch Ten&#8217;s concierge and lifestyle services, including Ten&#8217;s proprietary digital platform, to a new group of the client&#8217;s High Net Worth cardholders. This new programme is expected to expand the existing Large contract and the extra member activity will further strengthen Ten&#8217;s buying power in APAC to improve the efficiency and quality of Ten&#8217;s service in the region.<\/li><li>Won contracts with a multi-national firm and an international technology business to launch Ten&#8217;s digitally enabled concierge and lifestyle services as an employee loyalty programme, aimed at improving staff retention, acquisition and productivity. These Small contracts have the potential to grow by expanding into new regions where Ten is already established and marks Ten&#8217;s return to growth in the employee concierge vertical.&nbsp;<\/li><\/ul>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>These developments, which are incorporated within the Group&#8217;s existing growth plan, are expected to launch by the end of this financial year (31 August 2022) and are expected to further increase the monthly request numbers and Net Revenue<sup>2<\/sup>, which remains above pre-COVID levels (H1 2020: \u00a3\u00a023.8m).<\/p>\n\n\n\n<p>Ten&nbsp;maintains its recent record of retaining 100% of its Material contracts.<\/p>\n\n\n\n<p><br>To find out more about Ten Lifestyle Group, please click\u00a0<a href=\"https:\/\/www.tenlifestylegroup.com\/ten-group-investors-overview\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>\u00a0for our investor overview. To read the official RNS article, please click\u00a0<a href=\"https:\/\/www.londonstockexchange.com\/news-article\/TENG\/corporate-client-developments\/15493432\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><em><sup>1<\/sup>&nbsp;Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as: Small contracts (below \u00a30.25m); Medium contracts (between \u00a30.25m and \u00a32m); Large contracts (between \u00a32m and \u00a35m); and Extra Large contracts (over \u00a35m).&nbsp;This does not include the revenue generated from suppliers through the provision of concierge services. Medium, Large and Extra Large contracts are collectively Ten&#8217;s &#8220;Material Contracts&#8221;.<\/em><\/p>\n\n\n\n<p><em><sup>2<\/sup>&nbsp;Net Revenue excludes the direct cost of sales relating to certain member transactions managed by the Group.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We are pleased to announce we can provide the following corporate client contract developments.<\/p>\n","protected":false},"author":5,"featured_media":2301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-2300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Growth from More Contracts Secured - Ten Lifestyle Group<\/title>\n<meta name=\"description\" content=\"Ten announce they are pleased they can provide the following corporate client contract developments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tenlifestylegroup.com\/2022\/06\/21\/growth-from-more-contracts-secured\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Growth from More Contracts Secured - 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