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(Alliance News) - Eagle Eye Solutions Group PLC on Thursday expressed confidence for the year ahead as it has broken through to profitability in its most recently ended financial year.
The enterprise technology company said it saw revenue growth of 23% to GBP16.9 million for the year to the end of June compared to GBP13.8 million reported a year before.
As a result, Eagle Eye swung to earnings before interest, taxes, depreciation, and amortization of GBP700,000, which was ahead of the company's expectations, versus the Ebitda loss of GBP2.0 million reported a year earlier.
The improvement in its performance was driven by Eagle Eye's Win, Transact, Deepen customer strategy, growth from new client wins, transaction growth from brand and audience network activity, the company highlighted.
Redemptions and interactions were 847 million for the period, more than doubled compared to 404 million a year ago, predominantly driven by the deepening of the company's relationships with tier 1 retailers, including the continued expansion of Loblaw's PC Optimum loyalty programme.
In February last year, Canadian retail company Loblaw Co Ltd launched its new PC Optimum programme using the Eagle Eye's AIR platform.
"We are delighted to announce a positive end to a successful year," said Eagle Eye Chief Executive Tim Mason.
He added: "The proven value of our platform, combined with high levels of recurring revenue, increasing transaction volumes and a significant sales pipeline, means we enter the new year with confidence."
Eagle Eye said it expects to publish its annual results on September 17.
The stock was trading 6.7% higher on Thursday in London at 181.94 pence a share.
