Janison Education Group Limited (ASX: JAN) provides Internet-based educational services. The company is into the business of providing solutions in the nature of digital learning and assessment solutions for various corporations, government institutions, and educational bodies. The company works in close partnership with their clients to provide innovative solutions to fulfill their customer’s needs. Firm’s LMS and online assessment systems are built on strong and secure technologies. The company has their very own intellectual property so that their system designs are tailormade in integration with the clients’ existing technologies and platforms. With this, they can deliver performance on any device, any time, and anywhere.
The company has via a recent ASX release stated that it has won a significant contract which is expected to have a tremendous impact on the services income of the company for the Financial year 2019 and the platform income for the financial year 2020 and onwards.
The company has successfully renewed the three years contract to the Australian major Westpac Bank for an integrated enterprise learning solution for a contracted value of $4.2 million (including GST). The income for this contract is ~24% Services in FY19 and ~76% Platform and Content largely in FY20 and onwards.
The company’s Managing Director Mr. Tom Richardson has said that the management of the company is excited to continue working with Westpac as they invest in retaining and retraining their workforce and in building the skills required by the industry in the future. Westpac is leading the way in the industry and is truly committed to the development of their people.
Before this, the company had on 3 December 2018 stated that it had won a four years contract which will impact the services income of the company for the Financial year 2019 and the platform income for the financial year 2020 and onwards.
The company had won this contract from Roads & Maritime Services NSW, following with an initial pilot program it did. This is a four-year contract for a contract value of $4.3 million (including GST). Under the terms of the contract, the company is supposed to modernize the current driver/rider knowledge test platform which is known as Knowledge Test System (KTS). The income from this contract would be ~30% in the form of Services in FY19 and ~70% in the form of Platform and Content in FY20 and onwards.
Meanwhile, the share price of the company has fallen 5.88 percent in the past six months as on 18 December 2018. JAN’s shares traded at $0.405, up by 1.25% & with a market capitalization of circa $57.41 Million as on 19 December 2018 (AEST 04:00 PM).
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