Invigor Group (ASX: IVO) had made an announcement regarding TillerStack which happens to be its subsidiary. The company announced with the help of the press release that TillerStack has managed to seal new as well as fresh contracts amounting to more than $720,000. TillerStack is engaged in the business activities spanning throughout Europe and is in the business of extending Field Service Management software solutions. These software solutions are being advanced to the giant enterprises which are operating in the Europe. The press release which was issued by the company also stated that Field Service Management software is important for the companies which are in the business of delivering services.
Apart from making the workflows digital, the software provides several other useful features. The Field Service Management software helps enhancing the efficiency as well as in cutting down the service operating expenses. In addition, the software also advances improved experiences to the customers. TillerStack has managed to seal a fresh big contract from UnityMedia which happens to be the telecommunications company having operations in the Europe. Talking about the management viewpoints, the top management of TillerStack reflected positive views with regards to the fresh contracts.
The management is of the view that the company has been witnessing robust momentum when it comes to order book as well as presence in the market. The company has been ramping up at a strong pace and this is evident from numbers as only in the months of November as well December, the company has managed to garner approximately $1.6 million with regards to the new orders as well as re-competes. The management of TillerStack also reflected favourable views about the expected performance of the company and stated that in calendar year 2019 there are expectations that this robust momentum would prevail.
Recently, Invigor Group has also delivered the investor presentation in which it stated that the company is possessing robust balance sheet. It stated that it managed to garner fresh capital with the help of the share placements which were witnessed during September as well as October. Additionally, as per the presentation, the levels of debt have also been decreased by $5.8 million to $6.4 million since April. The management of the company had also stated about the optimistic outlook with respect to the performance moving forward. In the presentation, the company stated that it possesses rights with respect to expand as well as distribute Alipay and WeChat Pay. Also, the company has favourable outlook throughout Australia, Asia as well as Germany. The company also stated that they are having close relations with the retailers, giant partners as well as brands so that robust momentum with regards to the revenues as well as sales is witnessed. The market capitalisation of Invigor group is $7.96 million. Let us now have a look at the returns which the company has generated. In the past one month, the stock of Invigor Limited delivered the return of -42.86% while in the previous three months, the stock delivered 33.33% return.