Attraqt Group Confident On Future After Transformative Half-Year

(Alliance News) - Attraqt Group PLC on Wednesday reported a "milestone" first half, with a significant jump in the value of contracts signed.

Attraqt, which makes online shopping software, agreed 11 multi-year contracts during the six months to June worth GBP3.9 million, after just four worth GBP300,000 the same period a year before.

The company's revenue for the period rose 7% to GBP9.0 million, with the pretax loss broadly flat at GBP1.9 million.

During the half, in May, Attraqt completed the "transformational" purchase of personalisation platform provider Early Bird SAS for GBP13.8 million, mostly in cash but some in shares.

"The past six months have been a milestone period for the group. We have made great strides in the implementation of our refreshed strategy and it has been pleasing to see that all of the hard work we have undertaken operationally can be seen through the improvement in our financial performance," said Chief Executive Luke McKeever.

"The acquisition of Early Birds, completed in May this year, was a transformational step and immediately accelerated our strategy by several means. The addition of its algorithm orchestration capabilities underpin and accelerate our roadmap, its additional real-time data-capture capability expands our data-led approach, and it has opened up a key new geography by providing a strong foothold in the French market."

"More importantly, it has enhanced our capability in the key area of artificial intelligence, and Attraqt is now poised to provide our clients with a truly innovative offering," McKeever added.

Shares were up 2.5% on Wednesday afternoon in London at 35.35 pence each.