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IVE Group - Business update and FY21 full year guidance

Further to the release of the Company’s H1FY21 results on 25 February 2021, IVE Group Limited (IVE Group or The Company, ASX:IGL) today provides a business update and earnings guidance for the Full Year to 30 June 2021.

Revenue and Customers

In our H1FY21 results, the Company highlighted $30m of annualised new business revenue. New business momentum has continued across the Group throughout H2.

- revenues for the 5 year Australian Community Media (ACM) contract of circa $20m per annum will be fully transitioned into the business by June 30 2021
- Spotlight Retail Group has now been fully on boarded as a significant letterbox distribution client in both Australia and New Zealand

The Group’s strong track record of revenue retention has continued during H2 with a number of contract renewals. The most significant renewals were in our Integrated Marketing Division with the retention of L’Oréal and Westpac Banking Corporation (Westpac).

Westpac have renewed for a further 5 years with an estimated annual contract value of $20m per annum. 

For more information, download the attached PDF.

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