LONDON (Alliance News) - Eagle Eye Solutions Group PLC Monday said its revenue more than doubled in its last financial year, as it secured new customers, launched the third generation of its platform, and saw redemption volumes rise by 300% to more than one million a month.
The provider of online gift vouchers and customer-loyalty programmes for retailers and hospitality companies, which listed on AIM earlier this year, said it has recently launched a loyalty programme with Greggs PLC, the UK bakery chain. Greggs uses Eagle Eye technology to offer its customers offers, payments and a digital coffee stamp.
It said it expects to report revenue for the 12 months to June 30 of GBP1.8 million, up from GBP0.7 million a year earlier, and the percentage of revenue from transactions is expected to be about 60%.
It also expects to book a loss before interest, tax, depreciation and amortisation of GBP0.8 million and cash of GBP2.5 million, in line with management expectations.
At the same time as its initial public offering in April, Eagle Eye bought competitor 2ergo Ltd. It said that it has now fully integrated the business and its costs are now aligned with its revenue.
Eagle Eye said it now has more than 80 retail and hospitality brands using its network, including recent live launches of Clarks, JD Sports, La Tasca, One Stop, Pets at Home and Spirit Pub Company.
"We have successfully signed strategic partnerships both for the issuance and the redemption of vouchers, which is encouraging more customers to connect to our network. New partners such as Comtrex, K3, Toshiba and WEVE will bring their customers to Eagle Eye and help us to achieve our ultimate goal as the industry standard network for digital vouchers," it said in its statement.
It expects to report its full results for the year to end-June on September 22.
Eagle Eye's shares were down 2.6% at 152.00 pence Monday morning, still below its IPO price of 164 pence a share.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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Eagle Eye (EYE)