15 Jan 2015 07:00
15 January 2015
blur Group Plc
("blur" or the "Group")
Trading update and four-year, $17m project kicked off
15 January, 2015: blur, the international e-commerce company providing a better way for businesses to buy or sell services, has today confirmed that it expects its full year results for the year ended 31 December 2014 to meet market consensus forecasts. The Group continues on its previously announced and planned path towards EBITDA breakeven in Q4 2015 and positive cash flow fromQ1 2016. Currently the Group has the cash resources to sustain it through to profitability and positive cash flow.
Assisting the Group in achieving these stated goals, blur today also announced that it has kicked off a project for a new customer using the blur platform, to raise sponsorship and investment for an independent cycling team, who is planning to compete in the Tour de France and other signature events.
The project will run over a four-year period with the total project value budgeted at approximately $17m, and expected to be recognised over four calendar years. .
blur's Chief Executive Officer Philip Letts commented:
"The continued adoption of the blur platform by enterprise customers, including by this latest new customer, is a very exciting confirmation of the robustness and flexibility of the blur platform. This follows our recent announcements that we have added enterprise customers including Thales, South West Water, Realtek Semiconductor Corp, Argos and Tesco to the platform, and I am pleased to see yet more evidence of take-up at the highest levels."
-ENDS-
For further information, please contact:
blur Group plc | www.blurgroup.com/investors |
Stephen Harvey, Group CFO Barbara Spurrier, Director Financial Reporting | Tel: + 44 1392927409 Tel: +44 203 475 8182 |
N+1 Singer |
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Shaun Dobson / Jen Boorer / Emily Watts | Tel: +44 20 7496 3000 |
Yellow Jersey |
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Dominic Barretto/Anna Legge | Tel: +44 7768 534641 |
About blur Group plc at blurgroup.com
blur Group is an international e-commerce company providing a better way for business to buy or sell services. To date 50,000 businesses have used blur to buy or sell services online, including companies like Amazon, eBay, Regus, Caterpillar, Argos, Danone and GE submitting over $350m of services requirements to blur's platform.
blur Group is a public company listed on the London Stock Exchange's AIM market (BLUR) and is headquartered in the UK with regional sales offices in the US and Europe.