24 Jul 2013 07:00
24 July 2013
blur (Group) plc
("blur" the "Group" or the "Company")
Trading Update
blur (Group) Plc (BLUR), the technology company that's reinventing commerce at blurgroup.com, confirms strong revenue growth in the first half of the year to 30 June 2013. The management is pleased that the growth of the business is developing to plan and the Board is therefore confident of a positive outcome to the year.
The Company has seen a further acceleration at the start of Q3. Total projects on the exchange have reached over 2,300 with the total value of projects submitted above $36 million. There are now over 30,000 businesses using the Global Services Exchange with almost 1,200 new businesses adopting blur's s-commerce platform on a monthly basis.
blur has this month opened its first regional Exchange Support team in Dallas, supporting the strong US growth seen to date, and begun hiring at its new R&D Centre in Exeter, UK.
Philip Letts, CEO blur Group commented, "As indicated by our strong Q1 and Q2 metrics, we have had an excellent start to the year and the Board is confident this will result in a positive outcome for the year as a whole. We are using the funds from the recent secondary fundraise to invest in further infrastructure to support accelerated growth and are delighted to welcome new members of the team at our new R&D Centre in Exeter and Exchange Support team in Dallas. We are confident that we have the right proposition and people to capitalise on our first mover advantage in the $2 trillion+ s-commerce marketplace."
-ENDS-
For further information please contact:
blur (Group) plc | investors.blurgroup.com |
Ravi Pau, PR Manager / James Davis, CFO | Tel: +44 20 3176 0548 |
N+1 Singer | |
Shaun Dobson / Matt Thomas | Tel: +44 20 7496 3000 |
Newgate Threadneedle | |
Caroline Evans-Jones/ Josh Royston/ Hilary Millar | Tel: +44 20 7653 9850 |
About blur (Group) plc atblurgroup.com
blur Group is a technology company reinventing how businesses do commerce at blurgroup.com. Its Global Services Exchange delivers services differently: a new way to buy, manage and pay for core services. Over 30,000 businesses in 141 countries have adopted this s-commerce platform and changed the way they work.
blur Group (BLUR) is a public company headquartered in the UK with offices in the US and Europe. It is listed on the London Stock Exchange's AIM market. blur was founded in January 2006 and launched in alpha in 2007 with the full, formal launch of the Global Services Exchange in January 2010. At that time, just over three projects per month were submitted. Now, nearly 150 projects start on the exchange each month. Customers include Danone, Broadridge, Coral, Exceed, HCA, Momentive, Red Commerce, the Financial Times, Berlitz, Butlins, GE Healthcare and Tyco. Over the same time, average project value has grown from approximately $1,500 in 2010 to $22,943 in Q2 2013.
Today, more than 2,300 projects have been submitted with a combined value of above $36.0 million. These have come from the US, UK, Europe, Africa and Asia with over 29,000 expert service providers on eight exchanges responding to them.