EU Supply Reiterates Maiden Profit Expectations, Shares Rise

LONDON (Alliance News) - E-procurement software provider EU Supply PLC on Thursday reiterated its annual expectations, including the delivery of a maiden pretax profit, above market expectations.

Shares in the company were trading up 7.0% at 9.50 pence each on Thursday morning.

For the year, pretax profit is anticipated to be GBP400,000, swinging from a loss of GBP200,000 for 2017.

Revenue however is set to be below market expectations at GBP5.1 million, though this is up 8.5% from GBP4.7 million the year before. Around 70% of the revenue for 2018 is expected to be of a recurring nature.

This was after EU Supply in the second half made a big effort to build new services for buyers and suppliers, with these expected to underpin EU Supply's recurring revenue growth.

EU Supply will publish its annual results on April 26.

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