Eagle Eye Solutions flies after better-than-expected interim sales
Eagle Eye Solutions, the digital marketing venture where ex-Tesco chief Sir Terry Leahy sits on the board, said it has exceeded internal expectations for the first half of the year by delivering a 276% increase in revenues.
Eagle Eye Solutions Group
470.00p
16:55 25/04/24
FTSE AIM All-Share
755.73
10:25 26/04/24
Software & Computer Services
2,439.35
10:24 26/04/24
The company, which provides digital "consumer engagement" solutions such as loyalty schemes and spend-tracking, saw a jump in its revenues from £0.6m to £2.3m and reported a “solid" cash position of £1.4m.
Eagle Eye, which joined AIM last Mach with the reverse takeover of 2ergo, increased the number of retailers and brands using its Eagle Eye AIR platform, with a total of 110 customers by the end of the year. Redemption volumes on the platform rose 200% year-on-year to 8.3m vouchers.
Chief executive Phill Blundell said: “We have delivered exceptionally strong growth in both transactions on our network to 8.3 million and in revenue, which reflects the structural market shift to the digital delivery of promotions, giftcards and rewards.
Shares were up 13.94% to 188p on Tuesday at 11:32.