LONDON (Alliance News) - Eagle Eye Solutions Group PLC shares rose on Tuesday morning after the company said it beat its expectations in the first half, as revenue soared on the back of its 2ergo acquisition.
The customer-engagement company said revenue for the first half to the end of December multiplied nearly three times to GBP2.3 million, from GBP0.6 million last year. Of that revenue, 81% was from transactional revenue, reflecting the strategic focus of the company.
Of the revenue in the first half, GBP1.2 million was contributed by the integration of 2ergo Ltd, which it acquired last year. Excluding the 2ergo acquisition, organic revenue grew 81% in the year. Messaging volumes for 2ergo rose to 23.2 million from 11.8 million.
Redemption volumes on the Eagle Eye Air platform tripled over the year to more than 8.3 million vouchers, against 2.7 million the year earlier, Eagle Eye said.
"I am very pleased with the excellent progress Eagle Eye has continued to make in the first half of the year. We have delivered exceptionally strong growth in both transactions on our network to 8.3 million and in revenue, which reflects the structural market shift to the digital delivery of promotions, giftcards and rewards," said Eagle Eye Chief Executive Phil Blundell.
Eagle Eye shares were up 15% to 189.00 pence in early trade Tuesday, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Eagle Eye (EYE)