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Eagle Eye Solutions Group (EYE)

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Eagle Eye swings to earnings profit after new strategy boosts revenue

18 Jul 19

LONDON (ShareCast) - (Sharecast News) - Eagle Eye Solutions Group swung to a maiden earnings profit on the back of double-digit annual revenue growth, with the results outstripping prior expectations.
The marketing technology specialist's EBITDA swung from a loss of 2m to a profit of 0.7m for the year ended 30 June, while revenue increased by 23% to 16.9m as revenue generated by the AIR platform increased by 32% to represent approximately 92% of total revenue.

The AIM-traded company said the year's success was driven by its 'Win, Transact, Deepen' customer strategy, where it seeks growth from the impact of new client wins.

Major client wins included a five year contract with Waitrose, while others to join the platform included Dobbies, Lyle & Scott and a number of premium F&B brands

"We are delighted to announce a positive end to a successful year. We have delivered our first EBITDA profit and generated 0.6m of cash in the second half of the year, while expanding the reach and capabilities of the business," said chief executive Tim Mason.

Mason added that high levels of recurring revenue, increasing transaction volumes and a significant sales pipeline mean the company had entered the new year with confidence.

Analysts from Shore Capital stressed the importance of contracts signed with Waitrose and News Corporation's News America Marketing division, stating that these client relationships mean that Eagle Eye is now "well set to continue its upward trajectory in our view".

Eagle Eye Solutions Group's shares were up 6.71% at 181.94p at 1053 BST.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Market Data

Currency UK Pounds
Price 166.00p
Change Today 0.000p
52 Week High 194.00p
52 Week Low 96.70p
Volume 0
Shares Issued 25.47m
Market Cap 42.28m


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