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Highlights:
- Plexure has struck new agreements with McDonald’s and has also shared its earnings guidance today.
- Plexure will be offering its data-driven digital engagement platform to McDonald’s.
- The platform will allow McDonald’s to engage with 147 million customers per day.
- Plexure expects total revenue to be around NZ$56 million for the year ending 31 March 2023.
ASX-listed IT firm, Plexure Group Limited (ASX:PX1), on Monday (1 August 2021), announced that it has entered new contracts with McDonald’s. As per Plexure, McDonald’s is its biggest customer.
This set of new contracts with McDonald’s Corporation will allow McDonald’s to use Plexure’s digital customer engagement platform.
Backed by the same, Plexure’s share price skyrocketed 82.352% and were quoted at AU$0.310 per share at 4:00 PM AEST on the ASX (1 August 2022).
About Plexure’s agreement with McDonald’s:
According to the terms of the new agreements, Plexure will allow McDonald’s to use its platform, which will increase customer engagement. This will be valid for the next five years.
This deal is expected to drive a net positive cash flow per annum compared to the previous losses of Plexure. However, it is subjected to operational performance of the company.
Plexure is the developer of a data-driven digital customer engagement platform. This platform is capable of allowing customer engagement with 147 million customers of McDonald’s per day.
The platform is known for offering digital loyalty, personalisation, food ordering facility and payment provision through McDonald’s mobile application for its customers across 66 markets, including big markets like Italy and Japan.
Plexure’s earnings guidance:
Image source: © Lovelyday12 | Megapixl.com
The company also released its earnings guidance for FY23. Plexure expects to generate total revenue of NZ$56 million, compared to NZ$32.6 million in the previous financial year. Furthermore, the company also expects to deliver an adjusted EBITDA worth NZ$5.2 million and a profit of NZ$3.7 million in FY23.
Summary of Plexure’s share price performance on the ASX:
Meanwhile, Plexure Group’s share price significantly dipped by almost 52% on the ASX in a year. On the other hand, Plexure’s YTD-based share price fell by 38% (as of 3:58 PM AEST on the ASX, 1 August).
