15 Jan 2018 07:00
15th January 2018
ATTRAQT Group plc
("ATTRAQT", the "Group" or the "Company")
Board Changes & Trading Update
ATTRAQT Group plc (AIM: ATQT), a leading provider of Online Merchandising, Onsite Search and eCommerce Personalisation, announces that André Brown has stepped down as Chief Executive Officer of the Group with immediate effect. Nick Habgood, Non-Executive Chairman, has assumed the role of Interim Executive Chairman while the Company undertakes the search for a new Chief Executive.
André was an original founder of the business back in 2003 and has led ATTRAQT for the past 15 years, including the period of significant expansion driven by the Group's admission to AIM in 2014 and the more recent acquisition of the Fredhopper business in 2017. The Board would like to thank André for his considerable contribution and wish him every success for the future.
Trading in the last two months of the year has been in line with the update issued at the end of October 2017 and revenue is expected to be between £13.5m and £13.6m. Fourth quarter bookings were also in line with expectations with several large upsells to existing clients. Cash on 12th January 2018 was over £2m.
The Company has reviewed its order book and has had success in delivering a number of signed clients and customer go-lives. The market demand remains strong for ATTRAQT with research from the British Retail Consortium showing that overall online sales across the Christmas trading period rose by 7.6 per cent.
The Company ended the year to 31 December 2017 in line with the guidance given in the October trading update and expects to announce its annual results 8th March 2018.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
ATTRAQT Group plc | via Alma PR |
Nick Habgood, Interim Executive Chairman Eric Dodd, CFO | |
Gemma Williams, Head of Marketing and Communications | |
N+1 Singer | Tel: 020 7496 3000 |
Shaun Dobson, Lauren Kettle | |
Alma PR | Tel: 020 3865 9668 |
Rebecca Sanders-Hewett, Susie Hudson | |
About ATTRAQT
ATTRAQT Group plc specialises in Onsite Search, Online Merchandising and eCommerce Personalisation. The Group's customer base is made up of over 200 client logos ranging from SMEs to global blue-chip businesses. A TTRAQT has a strong base in the UK and western Europe, with a presence in North America, eastern Europe and ANZ. For more information, please visit: www.attraqt.com.