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LONDON (Alliance News) - Eagle Eye Solutions Group PLC Tuesday said a new contract won with supermarket J Sainsbury PLC will contribute "material revenue" to the company.
The multi-year contract, which is for the deployment of the Eagle Eye transaction software platform AIR platform, adds to a contract signed with Asda. In addition to its contracts with the retailers, Eagle Eye said it has renewed a "significant contract" with betting and gambling company Ladbrokes PLC for SMS services for a further two years.
"This is a major endorsement of the benefits that the Eagle Eye AIR platform delivers and represents a significant milestone for our business as we continue to help transform the ways in which retailers connect with their customers," Eagle Eye Chief Executive Phill Blundell said in a statement.
The CEO's comments came as Eagle Eye issued a trading update ahead of its results for the financial year ended June 30, which are expected to be reported on September 16.
Based on unaudited figures, group revenue increased to GBP4.9 million in the year ended June 30, up from GBP1.8 million in the prior year, Eagle Eye said. It expects to report cash of GBP4.3 million.
Eagle Eye said that revenue for its last financial year is expected to be lower than management expectations, citing "a delay in certain contract implementations and the phasing of new business wins".
The company left its revenue expectations for the new financial year intact, citing its sales pipeline and contract wins.
Eagle Eye shares were up 4.8% at 208.00 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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