15th Jan 2015 09:03
LONDON (Alliance News) - E-commerce company Blur Group PLC on Thursday said it expects to meet market expectations for the year and said it has started work on a new USD17 million contract.
Blur said it expects its results for the year to December to meet market consensus forecasts. According to Morningstar, brokers expect the company to post a pretax loss of GBP6 million for the year.
The group added it is on track to meet its target for earnings before interest, taxation, depreciation and amortisation to break even in the fourth quarter of 2015 and to start generating positive cash flow from the first quarter of 2016.
The group also said it has now started work on a four-year, USD17 million contract with a customer using its platform to raise sponsorship and investment for a new cycling team.
"The continued adoption of the Blur platform by enterprise customers, including by this latest new customer, is a very exciting confirmation of the robustness and flexibility of the blur platform," said Blur Chief Executive Officer Philip Letts.
Blur shares were up 2.8% to 56.00 pence in early trade Thursday, having gained around 9% at the open.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Blur Group