EU Supply's revenue to be ahead of expectations after contract wins

(ShareCast News) - Sweden-based e-commerce firm EU Supply anticipates that revenue will be ahead of expectations after contract wins, including one with the Vest-Agder County Council in Norway, and due to recent currency exchange movements. The AIM-listed company expects revenues for the 2017 calendar year to be ahead of expectations and operational costs will be higher than last year due to new contracts and recent movements in currency exchange rates.Meanwhile, operational profitability this year is expected to be in line with expectations.The contract with Vest-Agder County Council encompasses up to 35 local authorities and other public sector bodies.EU Supply's CTM platform is used by over 7,000 European public sector bodies in nine European Union and European Economic Community countries and has national procurement system status in the UK, Ireland, Norway and Lithuania.The contract is expected to generate about £250,000 of revenue over eight years, and includes licenses and support, implementations and integrations, of which about £650,000 of revenue is forecast to be made this year.It also won three new contracts for customer-paid enhancements of the CTM platform with two existing customers, which are expected to make over £80,000 in revenue in 2017.Results for the 2016 calendar year will be published later this month.Shares in EU Supply were down 0.42% to 11.95p at 0843 GMT. Gxeurosuperdiv