22 Jan 2014 07:00
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, today provides an update on trading for the year ended 31 December 2013.
As mentioned in its interim results statement on 24 September 2013, the Global Services Exchange has seen an accelerating trend towards more high value, longer duration projects as evidenced by the strong Q4 2013 metrics growth. Some significant milestones have already been reached in Q1 2014: blur's Partner Program now has 500 affiliates; the number of expert service providers (sellers) has passed 35,000 and the total project value of projects submitted to the Exchange has now exceeded $150 million, $100 million of which has been submitted since September 2013. blur Group has approaching 40,000 business users, both buyers and sellers of global business services, from over 140 countries.
The adoption of larger multi-million dollar projects has happened more quickly than envisaged, which supports the view that the Global Services Exchange is in transition to becoming widely adopted not only as an SME solution but also as an enterprise system. The larger projects can be longer in duration and more sophisticated in delivery with multiple participants and geographies, which blur 3.0 caters for and will be further enhanced with blur 4.0 which is due for phased release from Q2 2014.
This trend towards higher value projects with staged delivery cycles provides longer term visibility of Exchange use and uptake. The Board currently anticipates revenue performance for the year to be broadly in line with market expectations bearing in mind that sizeable projects in progress at the year end will provide more material benefits through 2014 and by their nature have more complex delivery, timing and revenue recognition parameters.
The Company will report its full, audited results for the year ended 31 December 2013 in early April 2014.
For further information please contact:
blur (Group) plc | lucy@blurgroup.com |
James Davis - CFO/Lucy Davies - Head of PR | Tel: +44 20 3176 0548 |
|
|
N+1 Singer (Nomad and Joint Broker) |
|
Shaun Dobson / Matt Thomas | Tel: +44 20 7496 3000 |
|
|
Panmure Gordon (Joint Broker) | Tel: +44 20 7886 2500 |
Dominic Morley / Charles Leigh-Pemberton |
|
|
|
Newgate Threadneedle | Tel: +44 20 7653 9850 |
Caroline Evans-Jones / Josh Royston/ Hilary Millar |
|
About blur (Group) plc at blurgroup.com
blur Group is a technology company reinventing how businesses do commerce at blurgroup.com. Its Global Services Exchange uses blur's proprietary s-commerce platform to enable approaching 40,000 business users in 141 countries to buy, sell and deliver core business services and take advantage of Software as a Transaction™ to pay for these projects.
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, over 200 projects start on the exchange each month. Customers include Danone, Broadridge, Regus, 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 $89,000 in Q4 2013.
Today, over 3,700 projects have been submitted with a combined value of above $150 million. These have come from the US, UK, Europe, Africa and Asia with over 35,000 expert service providers in eight verticals responding to them.