24th Jun 2014 10:24
LONDON (Alliance News) - Blur Group PLC Tuesday said that its recent fund-raising, combined with its "more prudent" accounting and reporting policies and its planned appointment of a new Chief Financial Officer will support it through to profitability, in a statement ahead of its annual general meeting.
Blur operates a cloud-based platform called the Global Services Exchange, on which buyers can submit briefs for a range of professional and business services.
It said that the total project values submitted to the exchange to date have passed USD270 million. In May, the 5,000th project was submitted to the exchange.
The company said that it was confident that the new account and reporting policies and practices it implemented following the year end, as a response to the increased complexity and duration of the projects coming through the exchange, will underpin its future performance.
Blur raised USD22 million in a placing and open offer June 10.
Shares in Blur last traded flat at 90.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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