Eagle Eye Share News (EYE)

(Alliance News) - Eagle Eye Solutions Group PLC on Tuesday celebrated "continued positive trading" in its latest half with surges in revenue and adjusted Ebitda.

The London-based software-as-a-service marketing solutions provider said group revenue increased 20% in the six months that ended on December 31 to GBP24.1 million, from GBP20.0 million the prior year. The proportion of recurring revenue was unchanged at 78%.

Earnings before interest, tax, depreciation and amortisation rose by 25% to GBP5.9 million from GBP4.7 million, while the Ebitda margin grew to 24.3% from 23.5%.

Net cash at December 31, meanwhile, was GBP7.8 million, up 36% from GBP5.7 million at the same time one year prior.

Eagle Eye also said it "continues to win and expand its relationship with some of the world's largest retailers". It now has eight North American customers alongside its UK ones, and a "growing presence" in Asia and Europe.

Going forward, Eagle Eye believes that its 'AIR' platform's "proven ability...to deliver personalised promotions, in real-time, at the scale and speed required by the world's largest retailers, continues to drive a growing sales pipeline."

Eagle Eye added that it remains confident that for the current financial year, it can deliver results in line with management expectations.

"Through the AIR platform's ability to deliver hyper personalised messages to consumers at speed and scale, we are in a strong position to be an enabler of the advancements taking place in the world of retail marketing," commented Chief Executive Tim Mason.

He added: "With a growing addressable market, a newly launched AI-powered offering, EagleAI, an outstanding team and high-quality business model driving growth in revenue, profits, and cash generation, we are extremely excited about the future of Eagle Eye."

Shares in Eagle Eye were trading 1.5% lower at 559.00 pence in London on Tuesday afternoon.

By Emma Curzon, Alliance News reporter

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