28th Jan 2020 11:14
(Alliance News) - Eagle Eye Solutions Group PLC said Tuesday current trading remains in line with board's expectations and the company anticipates to deliver another successful year of growth.
The software-as-a-service technology company said for the six months ended December 31 its revenue jumped 26% to GBP10.1 million from GBP8.0 million in the first half of 2019.
Meanwhile, revenue from AIR platform, a digital promotions platform which offer real-time marketing through coupons and loyalty rewards, rose 28% to GBP9.6 million from GBP7.5 million.
Revenue from the AIR platform now represents 95% of total revenue, up from 94% a year before.
"This growth has been driven by several significant customer contracts moving to the transactional phase following successful implementations, and increased transactional revenues from existing customers, demonstrating their growing use of the AIR platform," Eagle Eye said.
The growth in revenue, combined with a "continued focus on managing the cost base and releasing investment into the business in line with revenue growth," has resulted in improved levels of earnings before interest, tax, depreciation and amortization.
Eagle Eye reported earnings before interest, tax, depreciation and amortization of GBP1.3 million for the period, compared to a loss of GBP300,000 a year ago.
Tim Mason, chief executive officer, said: "With a growing number retailers across multiple geographies turning to the Eagle Eye AIR platform to create a meaningful connection to their customers, we are excited about the prospects for the business and the breadth of our opportunity and we look to the remainder of the financial year and beyond with confidence."
Eagle Eye shares were trading 3.3% higher in London at 231.35 pence each on Tuesday.
By Loreta Juodagalvyte; [email protected]
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