Attraqt Group plc (AIM:ATQT), the provider of SaaS solutions that power exceptional online shopping experiences, is pleased to announce its unaudited results for the six months ended 30 June 2019.
GROUP FINANCIAL HIGHLIGHTS
· Revenue increased 7% to £9.0m (HY2018: £8.4m)
· Gross profit increased by 35% to £6.6m (HY2018: £4.9m)
· Adjusted EBITDA1 profit was £0.3m (HY2018: £0.2m loss)
· Loss before tax was £1.9m (HY2018: £1.8m)
· Basic EPS loss 1.4p per share (HY2018: 1.7p loss per share)
· Operating cashflow of £0.6m (HY2018: £0.4m)
· Cash at the period end was £6.3m (FY2018: £0.5m)
OPERATING HIGHLIGHTS
· Transformational acquisition of Personalisation Platform provider, Early Birds SAS, completed on 29 May 2019
· 11 multi-year contracts with a total renewal value of £3.9m in H1 2019 (HY 2018: 4 contracts worth £0.3m)
· Annual Recurring Revenue increased to £18.9m (HY2018: £15.2m)
· A number of new logos were signed including Joules, a worldwide soft drink manufacturer and a French multinational telecommunications corporation
· A number of new brands have gone live in the UK, Nordics, France and Australia.
COMMENT FROM LUKE MCKEEVER, CHIEF EXECUTIVE OFFICER OF ATTRAQT GROUP
“The past six months have been a milestone period for the Group. We have made great strides in the implementation of our refreshed strategy and it has been pleasing to see that all of the hard work we have undertaken operationally can be seen through the improvement in our financial performance.
The acquisition of Early Birds, completed in May this year, was a transformational step and immediately accelerated our strategy by several means. The addition of its algorithm orchestration capabilities underpin and accelerate our roadmap, its additional real-time data-capture capability expands our data-led approach, and it has opened up a key new geography by providing a strong foothold in the French market. More importantly, it has enhanced our capability in the key area of Artificial Intelligence, and Attraqt is now poised to provide our clients with a truly innovative offering.
Current trading is in line to meet full year expectations and we continue to be excited by the prospects for the Group. We believe we now have the fundamentals in place to deliver improved growth.” attraqt-group