Iconic Labs PLC (LON:ICON) shares jumped on Monday as the group unveiled a new consulting and marketing deal with a UK-based online wellness platform.
Under the agreement, the value of which was not disclosed, the media firm will deliver a six-week campaign to distribute advertising content to the 'on-demand Yoga and Pilates market', which the company estimated to be worth around £800mln in the UK alone.
READ: Iconic Labs chair David Sefton resigns from board
Work on the campaign will commence immediately, with the wellness brand having an option to extend the partnership by a further 12 months if desired.
"We are delighted to secure this contract with a disruptive client in such a large and growing market; we hope this will be the start of a long and strategic partnership”, said Iconic’s chief executive, John Quinlan.
“Securing new contracts is a lengthy process; our pipeline in this regard is growing and we anticipate signing further similar agreements soon. This is a positive start to the year, and I look forward to regularly updating investors on our progress", he added.
News of the deal sent the shares up 6.6% to 0.08p in early trading.