15th Jan 2020 10:45
(Alliance News) - London-headquartered Attraqt Group PLC on Wednesday said it expects to report earnings growth in 2019, thanks to contract renewals.
The online shopping platform provider said it expects its adjusted earnings before interest, tax, depreciation and amortization for 2019 to grow in line with forecasts. In 2018, the company achieved an adjusted Ebitda breakeven at GBP3,000.
During the year, Attraqt said it has signed 21 multi-year contract renewals versus just 10 signed in 2018. The company said it also has signed a number of new, well known brands, including its first customer in China.
"These commitments are a further illustration that our technology is becoming increasingly integral to the world's best online brands and underline the momentum in the business," Attraqt said in its statement Wednesday.
The company said its research & development activity in 2020 will be focused on delivering a fully unified product and customer experience. These are expected to have a positive impact on new bookings performance into the second half of 2020 and beyond, Attraqt said.
The company said it will report its 2019 results on March 4.
The AIM stock was trading 1.4% lower in London on Wednesday morning at 35.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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