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EU Supply swings to profit as revenue rises 10%

Fri, 26th Apr 2019 08:54

(Sharecast News) - EU Supply said on Friday that it swung to an annual profit as revenues rose amid growth in Lithuania, Ireland and Scandinavia.The e-procurement software provider secured revenue of £5.1m for 2018, an increase of 10% compared to the previous year, after the company won several mid-sized and larger orders for customer-paid enhancement projects in the UK, Lithuania and Ireland, prompting a swing from a loss before tax of £0.2m in 2017 to a profit of £0.4m in the year to the end of March 2018.The AIM-listed company's SaaS business also grew, with revenues of a recurring or repeatable nature now constituting 70% of total revenues, up from 66% last year.Chairman David Cutler said: "A profitable platform for growth was achieved in 2018. Our highest ever rate of increase in annual recurring revenue run rate has been secured already in 2019 with annualised values of contracts in aggregate of approximately £620k being signed this year, and this without any higher staffing levels."EU Supply had cash and cash equivalents of £0.9m at the end of the year following a successful fundraise of £0.6m, up from £0.7m at the same point in 2017.Since the end of the year, the company signed its first contract in the oil and gas sector, which it said may lead to considerable additional business in the next three years, while recurring revenues have experienced "exceptionally strong growth", representing a 17% increase in the year to date."We anticipate continued growth in annual recurring revenue during the coming months which gives us confidence in further profitable growth beyond 2019. The board is also confident of securing further revenue from both other existing contracts and new markets," said Cutler.EU Supply shares were up 13.30% at 11.50p at 0929 BST.
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10 Jul 2019 11:32

EU Supply Shares Cancelled As Mercell Acquisition Takes Effect

(Alliance News) - Shares in EU Supply PLC were suspended on Wednesday following its acquisition by Mercell Holding AS.The scheme of arrangement for the GBP16 million deal has become and EU

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2 Jul 2019 15:53

EU Supply Shareholders Approve GBP16 Million Acquisition By Mercell

(Alliance News) - Tender-management software firm EU Supply PLC said on Tuesday its shareholders have approved the firm's GBP16 million takeover by Mercell Holding AS.EU Supply the by a

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23 May 2019 16:04

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10 May 2019 16:04

EU Supply Shares Surge On GBP16 Million Takeover Approach From Mercell (ALLISS)

LONDON (Alliance News) - Shares in tender-management software firm EU Supply PLC jumped Friday after it agreed a GBP16 million all-cash takeover by Norwegian peer Mercell Holding AS.Mercell

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26 Apr 2019 09:35

EU Supply Swings To 2018 Profit As Revenue Rises; 2019 Starting Well

LONDON (Alliance News) - EU Supply PLC said Friday it swung to a 2018 profit after revenue grew, with it expects to make even more profit and sales growth in 2019.In 2018, EU Supply - which

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28 Mar 2019 09:09

EU Supply Reiterates Maiden Profit Expectations, Shares Rise

LONDON (Alliance News) - E-procurement software provider EU Supply PLC on Thursday reiterated its annual expectations, including the delivery of a maiden pretax profit, above market in the company

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5 Mar 2019 09:00

EU Supply inks new contracts in Denmark and Germany

(Sharecast News) - E-procurement software provider EU Supply has seen strong demand for its services across its target markets so far this year after inking some recent contracts in both Denmark and Germany.

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8 Feb 2019 09:58

EU supply paints mixed picture for full year

(Sharecast News) - It was a mixed picture for EU Supply on Friday as the e-procurement software provider said revenues for the year to the end of December 2018 are expected to be slightly below market expectations, but pre-tax profit should be materially above.

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8 Feb 2019 09:35

EU Supply Expects To Report Maiden Pretax Profit For 2018

LONDON (Alliance News) - E-procurement software provider EU Supply PLC said on Friday it expects to report a maiden pretax profit for 2018, above market expectations.For the year, pretax is

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5 Dec 2018 09:00

EU Supply provides support to European nuclear research outfits

(Sharecast News) - Software provider EU Supply has inked two new contracts with nuclear research outfits for the provision of its complete tender management platform.

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30 Nov 2018 10:21

EU Supply Signs Contract With Danish Ministry Of Taxation

LONDON (Alliance News) - E-procurement software provider EU Supply PLC said Friday it has signed a new contract with the government of Denmark.The contract covers the delivery of complete a

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30 Nov 2018 08:33

EU Supply inks license agreement with Danish Government

(Sharecast News) - Software provider EU Supply has strengthened its position in Denmark on the back of a new contract that will see the AIM-listed firm license its complete tender management platform to the Danish Ministry of Taxation.

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19 Nov 2018 12:12

EU Supply receives sixth contract with existing customer

(Sharecast News) - Electronic procurement software provider EU Supply has received its sixth contract pursuant to the framework agreement entered into with an existing customer for additional services to its CTM platform, it announced on Monday.

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31 Oct 2018 12:58

EU Supply wins new contract with States of Guernsey

(Sharecast News) - AIM-listed EU Supply said on Wednesday that it has agreed to licence its complete tender management (CTM) service platform as SaaS with support and related services to the States of Guernsey.

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