The contract targets customized software development activities and maintenance of solutions delivered. It stipulates the implementation of the program over the next 11 months, while maintenance services will be provided until the end of the 83-month period of the subcontracting agreement, company representatives said in a stock market announcement.
Connections Consult listed its shares on the AeRO market of the Bucharest Stock Exchange, on Sept 22, 2021, under the ticker symbol CC.
The company operates regionally, with offices in Romania, Bulgaria and Serbia. Prior to the listing, Connections Consult carried out a private placement of shares, attracting funds worth RON10 million from capital market investors for the opening of a subsidiary in the United States of America, investments in its own products and other companies in its field of activity.
Connections Consult reported a turnover of RON32.3 million in 2020, up 10.6% versus 2019 (EUR29.2 million). The largest share of revenue is generated by business process outsourcing services (2020: RON22.7 million), followed by other service categories as IT infrastructure, software development and Robot Process Automation. The company’s net profit in 2020 amounted to RON2.3 million, up 100% versus 2019 (RON1.15 million). By the end of 2021, the company expects a turnover of RON35.9 million and a net profit of RON2.6 million.