At the company AGM, David Cutler, the Chairman of EU Supply PLC, the e-procurement SaaS provider, made the following statement:
“Last year saw the Company’s revenues grow by 41%, including the renewal or extension of all long term contracts which were due to expire, and the delivery of important national procurement platforms for Norway (Doffin) and UK (Blue Light), as well as significant services for the national procurement portal in Lithuania.
Building on this success, Tender Lite and pre-paid Business Alert services have been successfully launched in 2015 with 20 new customers on Tender Lite and 1,100 new subscribers for Business Alerts already signed with the number increasing monthly.
In addition, the Global e-Sourcing pilot is delivering its first revenues with the roll-out within the Norwegian Refugee Council (“NRC”) with training and implementations in two of NRC’s regions expected to be completed in June 2015.
A senior sales representative with a proven track record in EU Supply’s market has replaced more junior sales staff in the UK in order to progress important contract opportunities for H2 2015 and beyond. In addition, a Commercial Delivery Manager will join the Company in H2 2015 in order to accelerate the roll-out of Business Alerts and revenue generation from our development team.
The Company is actively engaged in pursuing two opportunities to establish a presence in two new member states well in advance of the mandatory provisions of the 2014 EU Directives becoming effective.
Trading in the year to date is in line with management expectations. With a healthy pipeline of medium and small license agreements, Business Alerts, delivery of enhancements and Tender Lite revenues increasing over time, the Board anticipates strong revenue growth in the current year and beyond.
The ratified EU Directives, which require all public bodies and authorities to make available all documents and notices online and to manage all tender responses electronically, will continue to create growth and opportunities in the market. The Directors believe that EU Supply is very well positioned to take advantage of this growing market.”