31 Mar 2015 07:00
31 March 2015
EU Supply plc
("EU Supply", the "Company" or "the Group")
Service launch and Contract wins
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that:
· It has successfully launched a pre-paid business alert service option for economic operators on its platforms. The take up of this service during the first month of operation in selected segments is very encouraging and ahead of management's expectations.
· It has recently been awarded several smaller and mid-sized contracts in the Nordic region, both in the private and the public sector.
· The Tender Lite service that was launched by the Company at the end of 2014 has also been well received and is already being used by many smaller customers, with further customers committed to start using it during Q2 2015. As a result, the Company has hired junior sales staff to target this business.
· Implementations for the Norwegian Refugee Council ("NRC") have started and both this and the implementation of the previously announced framework agreements in the Danish housing sector under Almenindkøb are progressing in line with management's expectations.
The Company's revenue in the year to date is in line with management's expectations for the first half year of 2015.
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Notes to Editors
EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for e-sourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.
Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.
The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 7,000 European public sector bodies in 10 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).
The Company's shares were admitted to trading on AIM in November 2013 when the Company raised £5.0 million before expenses. In July 2014, the Company raised a further £1.35 million by way of a placing of new ordinary shares, the proceeds of which were mainly used to strengthen the Company's balance sheet, provide working capital to support the growth of the business as it expands and aims to gain market share and to provide additional funds for sales and marketing.