(Alliance News) - Marketing solutions provider Eagle Eye Solutions Group PLC on Tuesday posted a strong first half performance due to continuation of good trading momentum and said it has made a positive start to the second half, with current trading in line with board's expectations.
On Covid-19 outbreak, the company said it is monitoring and updating its business continuity plans as the situation evolves, with the operations well set up to facilitate remote working.
Tim Mason, Chief Executive of Eagle Eye, said: "While we continue to monitor the evolving situation with Covid-19 closely, our growing recurring revenues, low levels of customer churn and expanding customer base, means we look to the long-term success of Eagle Eye with confidence".
Eagle Eye, which provides coupons, loyalty, apps, subscriptions and gift services, recorded a pretax loss of GBP632,000 for the six months to December-end, compared with a GBP1.9 million loss a year ago.
Adjusted earnings before interest, tax, depreciation and amortisation totalled GBP1.3 million versus a GBP300,000 loss.
First half revenue jumped 26% to GBP10.1 million from GBP8.0 million a year ago. Revenue from the company's digital offers and rewards redemption platform AIR jumped 28% to GBP9.6 million.
Eagle Eye said its current funding position remains comfortable and sufficient headroom remains within the group's GBP5 million banking facility to support existing growth plans.
Shares in Eagle Eye were up 6.5% at 131.50 pence each in London on Tuesday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Eagle Eye (EYE)