EU Supply Enjoys Double-Digit Revenue Growth To Start 2016

LONDON (Alliance News) - EU Supply PLC on Tuesday said it has seen double-digit revenue growth in the first five months of 2016, in line with its expectations.

In a statement ahead of its annual general meeting, the software-as-a-service firm focused on the public sector reiterated its target of achieving a profitable monthly run rate by the end of 2016 in order to "provide a sound platform for profitable growth through 2017 and beyond with the implementation of a cost savings programme which has now been completed."

It expects these cost savings to come through fully in the second half of 2016.

EU Supply said its Business Alerts division continued to provide strong revenue growth, particularly in Norway, and it has won new medium and small contracts in the UK, Noway and Denmark.

"The ratified EU directives, which require all public bodies and authorities to make available all documents and notices online and to manage all tender responses electronically, will continue to create growth and opportunities in the market. The directors believe that EU Supply is well positioned to take advantage of this growing market," said Chairman David Cutler in a statement.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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