AGM Trading Update

RNS Number : 2659X

Eagle Eye Solutions Group PLC

18 November 2014

 



18 November 2014

Eagle Eye Solutions Group plc

("Eagle Eye", the "Company" or the "Group")

AGM Trading Update

Eagle Eye is a leading UK provider of digital consumer engagement solutions to the retail and hospitality industries. At the Company's Annual General Meeting ("AGM"), to be held at 1:30 p.m. today, Bob Willett, the Chairman of Eagle Eye, will make the following statement on the Group's trading:

"The year ended 30 June 2014 was transformational for Eagle Eye and the Group has continued to trade very well since then. During the first quarter of FY2015, revenue was above £1.0 million, ahead of management's expectations and driven by new customer wins, increased transactional revenue and growth in our messaging business.

We have continued to make further progress against our KPIs. Transactional revenue grew to represent approximately 85% of total revenue for the first quarter of financial year 2015, up from representing 67% for the financial year ended 30 June 2014 and in line with our strategic focus. The Group has also continued to make good progress in increasing the number of retailers and brands using the Eagle Eye AIR platform, which as of 30 September boasts more than 100 customers (30 June 2014: 90) live, including recent additions of Chimichanga, Chef & Brewer and Blacks. This continued strong growth reflects our customers' appreciation of the significant operational cost savings, enhanced consumer experiences and added opportunities to innovate ahead of their competitors that our offering provides.

The increased number of customers using our platform meant Eagle Eye AIR redeemed more than 3.9 million vouchers in the first quarter of financial year 2015, compared to 1.2 million in the comparable period in the prior financial year.

The acquisition of 2ergo is now fully integrated with no customer defections or loss of key staff. Messaging volumes also increased, to 8.0 million from 3.7 million for the same period last year, further evidencing the success and seamless integration of the 2ergo acquisition.

Since 1 July 2014, Eagle Eye has launched a number of exciting new projects including a coupon app for One Stop, the Tesco-owned convenience store chain, and a loyalty app for Nicholson's Pubs, which includes a digital stamp card for rewarding frequency of visits. Besides the integration of the white-label app platform into the Eagle Eye AIR platform, our R&D activities completed new modules for stored value, coupon campaign self-service and real-time reporting. The Group was also delighted to be recognised at this year's Retail Systems Awards where Eagle Eye's Greggs Rewards app was named 'Loyalty Programme of the Year'.

The cash position at the end of the Period was £1.8m, slightly ahead of management's expectations.

The Group has an industry-leading network, innovative technology and growing customer base. We are continuing to execute our growth strategy and develop our customer offer. Based on Eagle Eye's progress-to-date, the Board is particularly encouraged by the traction that the Eagle Eye AIR platform is continuing to gain in the market and remains confident about the company's prospects over the near and longer term."

For further information, please contact:

Eagle Eye Phill Blundell, Chief Executive Officer Lucy Sharman-Munday, Chief Financial Officer	Tel: [phone]
Panmure Gordon Hugh Morgan/Duncan Monteith, Corporate Finance Charles Leigh-Pemberton, Corporate Broking	Tel: [phone]
Hudson Sandler Nick Lyon/Alex Brennan	Tel: [phone]

Information on Eagle Eye

www.eagleeye.com

Eagle Eye is a leading UK provider of digital consumer engagement solutions, enabling the retail and hospitality industries to deliver real-time digital promotions.  

The Company provides a digital transaction platform, Eagle Eye AIR, for the secure, real-time, multi-channel issuance, management and redemption of digital offers, vouchers and rewards, replacing previously used paper-based methods.

The coupons, stored value and loyalty-based rewards markets are currently transitioning through substantial change as both retailers and consumers are moving away from paper and plastic to digital offers, vouchers and rewards. These markets, in aggregate, are estimated to be worth £54.8 billion, £4.7 billion and £210 million respectively.

The Eagle Eye platform comprises four key components: campaign creation; issuance; redemption and reporting. The Company's products supported by the Eagle Eye platform allow the Company's clients to deliver relevant offers, vouchers and rewards to consumers in real time, in a simple and secure way, across multiple media including email, SMS messaging and loyalty apps. The promotions can be redeemed securely by the consumer through any enabled point of sale channel.

The Company's current customer base comprises leading names in UK retail and hospitality including Aurora Fashion, Greggs, JD Sports, Ladbrokes, Marks & Spencer, Mitchells & Butlers, Orange, Pizza Express, Tesco and Thomas Pink.

The Group is headquartered in Guildford, Surrey and has an office in Manchester.

 

END

 

 

TSTGGGBCGUPCGBM