http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Sat, 18 Nov 2017 04:28:26 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - ATTRAQT Group hopping to it ]]> http://www.proactiveinvestors.co.uk/companies/news/187251/attraqt-group-hopping-to-it-187251.html If you buy clothes online it is increasingly likely you will do so through a web site in some way facilitated by ATTRAQT Group plc (LON:ATQT).

The AIM-listed group has 230 “logos”, as it calls them, in its growing client base, including some of the best known names in the world of couture and, importantly, an increasing amount of US firms.

The likelihood of finding yourself shopping for clothes on a web site powered by ATTRAQT is even more pronounced now it has taken over much bigger competitor, Fredhopper.

Fredhopper, which ATTRAQT bought from SDL Plc (LON:SDL), is a cloud-based provider of onsite search, navigation, recommendation and visual merchandising solutions through a global software-as-a-service (SaaS) platform.

Fredhopper has a large recurring revenue base that accounted for 90% of total revenues in fiscal 2016.

It has a considerable number of long-standing key customer relationships, the best known of which is probably online clothing operator ASOS.

In September, the company said the planned cost savings from the integration of Fredhopper have been delivered.

Financial discipline tightened after appointment of finance chief Eric Dodd

Sales in the first half of 2017 ostensibly soared to £5.45mln from £1.68mln the year before, while recurring revenue practically doubled to £4.7mln from £1.6mln.

Annualised monthly revenue in June shot up 380% to £16.4mln from £3.4mln the year before, while the average value of new contracts improved to £54k from £38k in the first half of 2016.

It would be unusual, however, if an acquisition of that size did not cause some teething problems, and management time spent on the integration may have led to the company taking its eye off the ball in other areas; in October, the company was obliged to lower full-year revenue guidance by about 10% after a review, sanctioned after the appointment of new finance chief Eric Dodd, uncovered inaccuracies in forecasting the timing of certain contracts and client "go-live" dates.

On the bright side, ATTRAQT said its sales pipeline remained strong, with it continuing to win new client logos and sell upgrades to its existing clients.

It is confident that the forecasting around the timing of contract wins has now been resolved, it said.

Like a lot of technology companies in the land-grab stage, ATTRAQT current makes a loss.

Adjusted underlying losses (LBITDA) narrowed to £0.5mln at the halfway point of 2017 from a loss of £0.8mln the year before, though the loss before tax widened to £3.1mln from £0.9mln the previous year, as administrative expenses increased to £7.1mln from £2.4mln.

It’s a land grab

The standard model for tech companies is to get the top line growing rapidly and worry about the profits later, and ATTRAQT is no different.

The group's business model is based on a recurring monthly service fee plus a one-off set-up fee and additional follow-on project fees. Clients contract up for a minimum of 12 months, with some larger clients signing up for a longer period of two years.

ATTRAQT’s platform plugs into a retailer’s e-commerce sites and enhances the site search, category pages and new product recommendations.

To give merchandisers greater control of what goes out online is the aim and this applies to devices such as in–store tablet computers as well as traditional e-commerce.

ATTRAQT’s Freestyle Merchandising platform allows merchandisers to mix and match product lines in the most effective way to maximise sales.

For example, the buyer of a new raincoat might be prompted to also consider acquiring a new pair of boots and a bag to match.

Tesco, Boohoo and Screwfix were among the early adopters, but were quickly followed by  Bonmarché, Brown Thomas, ESPA and World Duty Free in the UK and  Ben Sherman, Vix Swimwear and TUMI in North America.

Recent contract wins include Fraser Hart & Fields, Volcom, Matches Fashion, Moss Bros., Russell & Bromley, JoJo Maman Bebe, Eddie Bauer, LK Bennett, The North Face, OKA Direct, Timberland, Vans (Europe) and Victoria Beckham.

The Freestyle Merchandising platform streamlines and optimises the display, search and recommendation functions. During 2017, it saw seven new core code releases, ensuring it remains cutting edge and state of the art.

ATTRAQT also offers three technologies in one (search, display and control over what is recommended), so the customer doesn’t have to go to multiple suppliers, giving a saving in time and cost.

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Tue, 14 Nov 2017 15:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187251/attraqt-group-hopping-to-it-187251.html
<![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171031070004_13413991/ Tue, 31 Oct 2017 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171031070004_13413991/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027164024_13412177/ Fri, 27 Oct 2017 16:40:24 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027164024_13412177/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027163515_13412174/ Fri, 27 Oct 2017 16:35:15 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027163515_13412174/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027140533_13411958/ Fri, 27 Oct 2017 14:05:33 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027140533_13411958/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027140016_13411950/ Fri, 27 Oct 2017 14:00:16 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027140016_13411950/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027110529_13411687/ Fri, 27 Oct 2017 11:05:29 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027110529_13411687/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027110021_13411663/ Fri, 27 Oct 2017 11:00:21 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027110021_13411663/ <![CDATA[News - ATTRAQT Group expects lower revenues for 2017 after review but sales pipeline remains strong ]]> http://www.proactiveinvestors.co.uk/companies/news/186326/attraqt-group-expects-lower-revenues-for-2017-after-review-but-sales-pipeline-remains-strong-186326.html Online merchandising specialist ATTRAQT Group plc (LON:ATQT) told investors it now expects revenues to be below previous expectations but still showing organic growth, while its sales pipeline remains strong.

The revised forecasts come after a review at management's request following Eric Dodd's appointment as finance chief at the beginning of September.

READ: ATTRAQT Group surges as top line goes ballistic after Fredhopper acquisition

The review uncovered inaccuracies in forecasting the timing of certain contracts and client "go-live" dates, it said.

Revenues for 2017 are now expected to be around 10% below previous expectations but still showing year-on-year high single digit organic growth and to be EBITDA (earnings before interest, tax, depreciation and amortisation) positive in the second half as well as being broadly breakeven for the year as a whole.

The lower revenue run rate at the end of 2017 will carry forward into 2018.

ATTRAQT said its sales pipeline remained strong, with it continuing to win new client logos and sell upgrades to its existing clients.

It is confident that the forecasting around the timing of contract wins has now been resolved, it said.

READ: ATTRAQT appoints new chief financial officer

The firm has a strong order book of £2mln annualised contract value and the management is working on a plan to resolve delayed "go-live" dates.

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Fri, 27 Oct 2017 07:54:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/186326/attraqt-group-expects-lower-revenues-for-2017-after-review-but-sales-pipeline-remains-strong-186326.html
<![CDATA[RNS press release - Trading Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027070002_13410820/ Fri, 27 Oct 2017 07:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171027070002_13410820/ <![CDATA[News - ATTRAQT Group surges as top line goes ballistic after Fredhopper acquisition ]]> http://www.proactiveinvestors.co.uk/companies/news/184281/attraqt-group-surges-as-top-line-goes-ballistic-after-fredhopper-acquisition-184281.html Online merchandising specialist ATTRAQT Group plc (LON:ATQT) said the planned cost savings from the integration of Fredhopper have been delivered.

The integration was achieved without disturbing sales momentum, with sales in the first half soaring to £5.45mln from £1.68mln the year before, while recurring revenue practically doubled to £4.7mln from £1.6mln.

Annualised monthly revenue in June shot up 380% to £16.4mln from £3.4mln the year before.

The average value of new contracts improved to £54k from £38k in the first half of 2016.

The company now has more than 230 clients.

Adjusted underlying losses (LBITDA) narrowed to £0.5mln from a loss of £0.8mln the year before, though the loss before tax widened to £3.1mln from £0.9mln the previous year, as administrative expenses increased to £7.1mln from £2.4mln.

Cash at the end of June stood at £2.7mln, up from £1.8mln a year earlier.

Benefits from economies of scale

André Brown, the chief executive of ATTRAQT, said the group is already reaping the benefits of the increased scale and improved access to the enterprise retail market that the Fredhopper acquisition brought with it.

READ: ATTRAQT Group upbeat about integration of Fredhopper

"We continue to gain traction with leading retailers in the UK, Europe and North America, having signed significant new logos in the period including Hunter Boots, Specsavers and The White Company. At the same time, our proposition remains key to our current customers with a significant number of upgrades and renewals,” Brown said.

"The momentum has continued post-period with the signing of the second largest logo in the group's history, plus contracts across a variety of territories. This momentum, underpinned by high recurring revenue and a strong pipeline for new business in the second half of the year, gives us confidence in the ongoing success of ATTRAQT for the remainder of 2017," he added.

The company said it has some new technology developments that should be unveiled before the end of the year, including its new data import application program interface and a new advanced reporting module.

The shares were up 4.5% to 50.7p in the first half hour of trading following the release of the results.

WATCH: Fredhopper is a "very good" acquisition for us, says ATTRAQT's Brown ]]>
Wed, 20 Sep 2017 08:27:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/184281/attraqt-group-surges-as-top-line-goes-ballistic-after-fredhopper-acquisition-184281.html
<![CDATA[RNS press release - Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170920070004_13368537/ Wed, 20 Sep 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170920070004_13368537/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170919150001_13368130/ Tue, 19 Sep 2017 15:00:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170919150001_13368130/ <![CDATA[News - ATTRAQT appoints new chief financial officer ]]> http://www.proactiveinvestors.co.uk/companies/news/182436/attraqt-appoints-new-chief-financial-officer-182436.html Merchandising software and technology group ATTRAQT Group PLC (LON:ATQT) told investors it has appointed Eric Dodd as its new chief financial officer.

Dodd joins the company from Iptor Supply Chain Systems UK Limited, a private equity-backed software business, and he is slated to start on September 1.

He replaces Mark Johnson who is retiring and stepping down from the board.

READ: ATTRAQT Group upbeat about integration of Fredhopper

"I would like to thank Mark for his significant contribution to ATTRAQT through a period of substantial growth, culminating in the acquisition of Fredhopper. The board and company has benefitted greatly from his input and I wish him well for the future,” said Andre Brown, ATTRAQT chief executive.

"I am delighted to be welcoming Eric Dodd to ATTRAQT's management team.

“Eric brings with him a wealth of experience and a proven track record, and the team and I look forward to working with him as we continue on our journey as the leading player in the sector."

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Tue, 15 Aug 2017 07:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/182436/attraqt-appoints-new-chief-financial-officer-182436.html
<![CDATA[RNS press release - Directorate Change & Notice of Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170815070004_13329765/ Tue, 15 Aug 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170815070004_13329765/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170616070003_13262641/ Fri, 16 Jun 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170616070003_13262641/ <![CDATA[RNS press release - Notice of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170530130952_13242561/ Tue, 30 May 2017 13:09:52 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170530130952_13242561/ <![CDATA[News - ATTRAQT Group upbeat about integration of Fredhopper ]]> http://www.proactiveinvestors.co.uk/companies/news/177917/attraqt-group-upbeat-about-integration-of-fredhopper-177917.html Shares in online merchandising specialist ATTRAQT Group plc (LON:ATQT) rose as it held out the prospect of bumper cost savings after its takeover of Fredhopper.

The company said the acquisition, which was completed in March, “has been transformational both in terms of the scale and scope of the enlarged group”.

READ ATTRAQT to acquire larger rival Fredhopper from SDL REVIEW the ATTRAQT investment case

The enlarged group has been reorganised and is now fully aligned under the single ATTRAQT Group brand, offering customers two products; Fredhopper and Freestyle Merchandising.

The integration process has also confirmed the potential for significant cost savings through better management and forward planning of the hosting infrastructure, as anticipated at the time of the acquisition, ATTRAQT told investors.

A cost reduction plan has been put in place, with plans for cost optimisation through platform efficiency improvements already under way, but the company is not yet in a position to fully quantify the cost benefits.  

Meanwhile, the company has appointed a new vice president of sales in North America. He is Bruce Gilburne.

"The additional appointment of Bruce Gilburne in North America further cements our plans for international expansion, and illustrates why we are, and will continue to be, the go-to player in all our target markets," declared André Brown, the chief executive of ATTRAQT.

Shares in ATTRAQT were up 4.5% in mid-morning trading.

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Wed, 17 May 2017 09:38:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/177917/attraqt-group-upbeat-about-integration-of-fredhopper-177917.html
<![CDATA[RNS press release - Integration Update and VP appointment in N.America ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170517070006_13228064/ Wed, 17 May 2017 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170517070006_13228064/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170405120239_13184737/ Wed, 05 Apr 2017 12:02:39 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170405120239_13184737/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170405120125_13184734/ Wed, 05 Apr 2017 12:01:25 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170405120125_13184734/ <![CDATA[RNS press release - Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170331150048_13179474/ Fri, 31 Mar 2017 15:00:48 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170331150048_13179474/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170320104827_13164306/ Mon, 20 Mar 2017 10:48:27 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170320104827_13164306/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170310153323_13155100/ Fri, 10 Mar 2017 15:33:23 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170310153323_13155100/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309174726_13153785/ Thu, 09 Mar 2017 17:47:26 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309174726_13153785/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309170441_13153745/ Thu, 09 Mar 2017 17:04:41 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309170441_13153745/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309124411_13153408/ Thu, 09 Mar 2017 12:44:11 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170309124411_13153408/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170308161237_13151822/ Wed, 08 Mar 2017 16:12:37 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170308161237_13151822/ <![CDATA[Media files - Fredhopper is a "very good" acquisition for us, says ATTRAQT's Brown ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7055/fredhopper-is-a-very-good-acquisition-for-us-says-attraqt-s-brown-7055.html Wed, 08 Mar 2017 09:28:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7055/fredhopper-is-a-very-good-acquisition-for-us-says-attraqt-s-brown-7055.html <![CDATA[RNS press release - Completion of Fredhopper Acquisition ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170308070006_13150589/ Wed, 08 Mar 2017 07:00:06 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170308070006_13150589/ <![CDATA[RNS press release - Supplementary Admission Document ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170307114224_13150020/ Tue, 07 Mar 2017 11:42:24 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170307114224_13150020/ <![CDATA[News - Around a quarter of the shares bought in ATTRAQT open offer ]]> http://www.proactiveinvestors.co.uk/companies/news/174367/around-a-quarter-of-the-shares-bought-in-attraqt-open-offer-174367.html Online visual merchandising specialist ATTRAQT Group plc (LON:ATQT) said just over a quarter of the shares available in its open offer were bought up.

The company, which is in process of acquiring Dutch peer Fredhopper, said shareholders snapped up 764,249 open offer shares at 35p a pop.

The offer was made available to shareholders to enable them to buy shares at the same price at which ATTRAQT placed shares with institutional investors as part of the fund-raising exercise associated with the £25mln acquisition of Fredhopper.

Read ATTRAQT to acquire larger rival Fredhopper from SDL

 

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Tue, 07 Mar 2017 07:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/174367/around-a-quarter-of-the-shares-bought-in-attraqt-open-offer-174367.html
<![CDATA[RNS press release - Result of Open Offer ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170306171417_13148992/ Mon, 06 Mar 2017 17:14:17 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170306171417_13148992/ <![CDATA[RNS press release - Posting of Admission Document ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170215070007_13127891/ Wed, 15 Feb 2017 07:00:07 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20170215070007_13127891/ <![CDATA[News - Acquisition propels ATTRAQT to critical mass ]]> http://www.proactiveinvestors.co.uk/companies/news/172362/acquisition-propels-attraqt-to-critical-mass-172362.html If you buy clothes online it is increasingly likely you will do so through a web site in some way facilitated by ATTRAQT Group plc (LON:ATQT).

The AIM-listed group has 121 retail clients currently but the number is growing and includes some of the best known names in the world of couture and importantly an increasing amount of US firms.

The likelihood of finding yourself shopping for clothes on a web site powered by ATTRAQT is even more likely if, as expected, the company’s reverse takeover of much bigger competitor, Fredhopper BV goes through.

Fredhopper, a division of SDL Plc (LON:SDL), is a cloud-based provider of onsite search, navigation, recommendation and visual merchandising solutions through a global software-as-a-service (SaaS) platform.

WATCH: ATTRAQT boss on "very good" acquisition ...

Fredhopper has a large recurring revenue base that accounted for 90% of total revenues in fiscal 2016.

It has a considerable number of long-standing key customer relationships, the best known of which is probably online clothing operator ASOS.

"As independent companies, ATTRAQT and Fredhopper have each built strong reputations, delivering products that significantly improve conversion rates and increase sales for their 250 e-commerce retail customers,” said Nick Habgood, chairman of ATTRAQT.

“Bringing the two businesses together will allow us to accelerate investment in sales and marketing, customer support and in on-going product development. Increasing our presence in the important North America market is a particular focus. Our objective is to deliver strong profitable growth whilst becoming a global technology partner of choice to leading online retailers," Habgood said.

It’s a land grab

The standard model for tech companies is to get the top line growing rapidly and worry about the profits later, and ATTRAQT is no different.

In 2016, revenue grew 22% to £3.6mln from £2.9mln the year before.

Recurring revenue increased 22% to £3.2mln from £2.7mln in 2015.

The group's business model is based on a recurring monthly service fee plus a one-off set-up fee and additional follow-on project fees. Clients contract up for a minimum of 12 months, with some larger clients signing up for a longer period of two years.

Adjusted underlying losses (LBITDA) in 2016 were in line with expectations at £1.l6mln, reflecting the accelerated investment in the business.

Loss before tax widened to £1.l9mln from £700,000 the year before.

The company ended the year with £1.2mln, down from £3.0mln the year before.

Watch: ATTRAQT Group plc boss Andre Brown discusses the e-commerce group’s growth story Read ATTRAQT to acquire larger rival Fredhopper from SDL Merchandising and customer response

ATTRAQT’s platform plugs into a retailers e-commerce sites and enhances the site search, category pages and new product recommendations.

To give merchandisers greater control of what goes out online is the aim and this applies to devices such as in–store tablet computers as well as traditional e-commerce.

ATTRAQT’s Freestyle Merchandising platform allows merchandisers to mix and match product lines in the most effective way to maximise sales.

For example, the buyer of a new raincoat might be prompted to also consider acquiring a new pair of boots and a bag to match.

Tesco, Boohoo and Screwfix were among the early adopters, but were quickly followed by  Bonmarché, Brown Thomas, ESPA and World Duty Free in the UK and  Ben Sherman, Vix Swimwear and TUMI in North America.

Recent contrract wins include Fraser Hart & Fields, Volcom, Matches Fashion, Moss Bros., Russell & Bromley, JoJo Maman Bebe, Eddie Bauer, LK Bennett, The North Face, OKA Direct, Timberland, Vans (Europe) and Victoria Beckham.

The Freestyle Merchandising platform streamlines and optimises the display, search and recommendation functions. During 2017, it saw seven new core code releases, ensuring it remains cutting edge and state of the art.

ATTRAQT also offers three technologies in one (search, display and control over what is recommended), so the customer doesn’t have to go to multiple suppliers, giving a saving in time and cost.

Outlook

"ATTRAQT has seen another year of sustained growth of revenues and client base in the UK and North America, whilst at the same time increasing gross margin. We have signed 42 new deals in the period, including several marquee retailers and have delivered a 22 per cent. increase in revenue for the year," said chief executive Andrew Brown.

"Our objective is to deliver strong profitable growth and become the technology partner of choice for leading online retailers. With an exit rate of £3.9m, good growth in recurring revenue and a strong sales pipeline for H1 2017, we are confident in the continued success of ATTRAQT for 2017 and the foreseeable future," he added.

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Mon, 30 Jan 2017 11:12:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172362/acquisition-propels-attraqt-to-critical-mass-172362.html
<![CDATA[News - ATTRAQT to acquire larger rival Fredhopper from SDL ]]> http://www.proactiveinvestors.co.uk/companies/news/172347/attraqt-to-acquire-larger-rival-fredhopper-from-sdl-172347.html Online visual merchandising specialist ATTRAQT Group plc (LON:ATQT) has pulled off a real coup, acquiring ASOS account holder Fredhopper for £25mln.

Fredhopper, a division of SDL Plc (LON:SDL), is a cloud-based provider of onsite search, navigation, recommendation and visual merchandising solutions through a global software-as-a-service (SaaS) platform.

The size of the acquisition means it counts as a reverse takeover under Aim’s rules and, accordingly, trading in ATTRAQT has been suspended. At the time the shares were suspended (at 46.11p), ATTRAQT was valued at £13mln.

WATCH: ATTRAQT boss on "very good" acquisition ...

The acquisition will be financed by a firm placing and open offer of ATTRAQT shares at 35p a pop, raising £28.5mln. The open offer part of the fund-raising will raise around £1mln.

The proceeds from the share issue will not only fund the acquisition but will finance the integration of the two businesses, investment in sales and marketing, customer support and product development.

Any money left over will augment working capital.

The directors of ATTRAQT believe that apart from Fredhopper and ATTRAQT, no other competitor provides all three of the following technologies: site search; visual merchandising; and product recommendation in one integrated platform.

Fredhopper has a large recurring revenue base that accounted for 90% of total revenues in fiscal 2016.

It has a considerable number of long-standing key customer relationships, the best known of which is probably online clothing operator ASOS.

"As independent companies, ATTRAQT and Fredhopper have each built strong reputations, delivering products that significantly improve conversion rates and increase sales for their 250 e-commerce retail customers,” said Nick Habgood, chairman of ATTRAQT.

“Bringing the two businesses together will allow us to accelerate investment in sales and marketing, customer support and in on-going product development. Increasing our presence in the important North America market is a particular focus. Our objective is to deliver strong profitable growth whilst becoming a global technology partner of choice to leading online retailers," Habgood said.

ATTRAQT also released its results for 2016, in which it said revenue grew 22% to £3.6mln from £2.9mln the year before.

Recurring revenue increased 22% to £3.2mln from £2.7mln in 2015.

Adjusted underlying losses (LBITDA) in 2016 were in line with expectations at £1.l6mln, reflecting the accelerated investment in the business.

Loss before tax widened to £1.l9mln from £700,000 the year before.

The company ended the year with £1.2mln, down from £3.0mln the year before.

"I'm pleased to report another year of good progress with the group continuing to grow both its revenues and client base in the UK and North America, whilst at the same time increasing gross margin. We have signed 42 new deals in the period, including several large global retailers and have delivered a 22% increase in revenue for the year,” said Andre Brown, chief executive officer of ATTRAQT.

"Our objective is to deliver strong profitable growth by becoming the clear global leader in online visual merchandising. With an exit rate of £3.9mln, good growth in recurring revenue and a strong sales pipeline for H1 2017, we are confident in the continued success of ATTRAQT for 2017 and the foreseeable future," he added.

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Mon, 30 Jan 2017 08:01:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/172347/attraqt-to-acquire-larger-rival-fredhopper-from-sdl-172347.html
<![CDATA[Media files - ATTRAQT Group plc boss Andre Brown discusses the e-commerce group’s growth story ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/5980/attraqt-group-plc-boss-andre-brown-discusses-the-e-commerce-groups-growth-story-5980.html Tue, 13 Sep 2016 13:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5980/attraqt-group-plc-boss-andre-brown-discusses-the-e-commerce-groups-growth-story-5980.html <![CDATA[News - ATTRAQT pleased with US progress after investment ]]> http://www.proactiveinvestors.co.uk/companies/news/165765/attraqt-pleased-with-us-progress-after-investment-165765.html ATTRAQT Group plc (LON:ATQT) has reported a strong pick up in  sales that has continued into the second half of its trading year.

The retail web site build specialist saw sales rise 25% to £1.7mln in the six months to June as 18 new clients signed, including JoJo Maman Bebe and LK Bennett, to make 120 in total.

ATTRAQT has been investing heavily in the US market and the costs of this meant interim losses rose to £970,000 (£349,000).

Since the half year, Matches Fashion and Eddie Bauer (US) have also signed up and the sales pipeline is strong for the remainder of the year, said chief executive Andre Brown.

Annual sales are currently running at around £3.38mln, he added, up 31% on last year with orders worth around £777,000.

“With an exit rate of £3.38m, good growth in recurring revenue, a 193% growth in revenue from North America as a consequence of our investment in this region, significant client wins post-period end and a strong sales pipeline for H2 2016, we are confident in the continued success of ATTRAQT for the rest of 2016 and the foreseeable future."

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Tue, 13 Sep 2016 07:56:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/165765/attraqt-pleased-with-us-progress-after-investment-165765.html
<![CDATA[RNS press release - Half-year Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160913070008_012963305/ Tue, 13 Sep 2016 07:00:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160913070008_012963305/ <![CDATA[RNS press release - Notice of Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160817150003_012934796/ Wed, 17 Aug 2016 15:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160817150003_012934796/ <![CDATA[RNS press release - Change of Registered Office ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160803094502_012917327/ Wed, 03 Aug 2016 09:45:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160803094502_012917327/ <![CDATA[News - ATTRAQT gaining traction ]]> http://www.proactiveinvestors.co.uk/companies/news/128671/attraqt-gaining-traction-128671.html Online merchandiser ATTRAQT Group plc (LON:ATQT) said it is continuing to see a strong uptake for its Freestyle merchandising platform in the UK and abroad.

Platform usage has continued to grow with a 32% increase in page impressions in the first half of 2016 versus the same period of 2015, while site search usage was up by 65% year-on-year.

Watch: ATTRAQT Group PLC chief looks to keep up momentum after a “great year” in 2015 In-depth: ATTRAQT Group PLC making "strong progress"

In a pre-close period trading update covering the first half of 2016, it said the group had seen strong improvements in its operational, financial and key performance indicators metrics and it is on course to deliver results for the full year that are in-line with market expectations.

In the first half of 2016, ATTRAQT signed 22 new contracts, down from 23 in the same period of last year, with four of those clients being in North America and 14 in the UK.

The total monthly revenue increment from new clients signed in the period represents a 40% increase in comparison to the same period in 2015, ATTRAQT told investors.

A focus on trade shows has proved successful for the group and has helped support the strong sales pipeline.

“The number and quality of our new client wins underlines the significant contribution the ATTRAQT Freestyle Merchandising Platform makes in helping our retail clients maximise their eCommerce offer,” said André Brown, the chief executive officer of ATTRAQT.

"We enter the second half of the year with a strong sales and production pipeline and confidence in the outlook for the full year and we look forward to updating shareholders further at the interims in September," he added.

Broker N+1 Singer gave the thumbs-up to the trading update and the shares.

"With a favourable demand environment, a core platform offering enjoying increasing traction and evidence that increased resources are delivering improved contract win momentum in both the UK and US, we continue to believe that the group is well-positioned to secure a growing share of its addressable market," the broker said.

ATTRAQT's shares were up 2.9% at 35p in late-morning trading.

---ADDS BROKER COMMENT AND SHARE PRICE ---

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Wed, 27 Jul 2016 11:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/128671/attraqt-gaining-traction-128671.html
<![CDATA[RNS press release - Pre-Close Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160727070007_012907387/ Wed, 27 Jul 2016 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160727070007_012907387/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160725133642_012905017/ Mon, 25 Jul 2016 13:36:42 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160725133642_012905017/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160722174502_012903850/ Fri, 22 Jul 2016 17:45:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160722174502_012903850/ <![CDATA[News - Boohoo.com renews contract with ATTRAQT ]]> http://www.proactiveinvestors.co.uk/companies/news/128279/boohoocom-renews-contract-with-attraqt-128279.html Online merchandiser ATTRAQT Group plc (AIM:ATQT) has renewed a two-year contract with fashion retailer Boohoo.com PLC to deliver its Freestyle Merchandising (FSM) platform.

The FSM platform will enhance the retailer’s visual merchandising, site search, navigation and product recommendation functionality. It will be applied across all of the retailer’s sites and its mobile app.

“We are excited to continue to work together over the years to come, not only as a supplier of the Freestyle Merchandising platform, but also on an on-going collaborative basis as we develop and explore new technology products and solutions for the online retail market,” said ATTRAQT chief executive Andre Brown.

Boohoo.com is one of the UK’s largest own-brand online clothing stores and first signed with ATTRAQT in 2009.

Mahmud Kamani, joint CEO of boohoo.com said ATTRAQT’s platform was a “great asset” to the site.

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Mon, 18 Jul 2016 07:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/128279/boohoocom-renews-contract-with-attraqt-128279.html
<![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160624130002_012867582/ Fri, 24 Jun 2016 13:00:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160624130002_012867582/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160616070010_012855979/ Thu, 16 Jun 2016 07:00:10 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160616070010_012855979/ <![CDATA[News - ATTRAQT shares surge as co-founder steps down ]]> http://www.proactiveinvestors.co.uk/companies/news/127134/attraqt-shares-surge-as-co-founder-steps-down-127134.html Company co-founder Dan Wagner is to step down from the board of e-commerce firm ATTRAQT Group plc (LON:ATQT) at today’s annual general meeting.

He will be replaced as non-executive chairman on an interim basis by Nick Habgood, who is currently a non-executive director of ATTRAQT. Habgood will lead the search for a new independent chairman.

Wagner is quitting in order to focus on his new technology start-up.

IN DEPTH: ATTRAQT making strong progress WATCH: ATTRAQT targeting top e-tailers with online shopping tech

"I am very proud of ATTRAQT's development and growth. The company has delivered strong financial and operational progress, establishing itself as a leading technology platform for e-retailers in the UK and internationally,” said Wagner.

“As a shareholder, I have complete confidence in the management team and its ability to take this company through the next stages of its development. It is companies like ATTRAQT that push the boundaries of technology innovation enabling their customers to be more efficient and drive increased sales. ATTRAQT illustrates Britain's tech credentials and reinforces our ability to compete in the global technology marketplace," he added.

ATTRAQT merchandising platform, Freestyle Merchandising, provides product recommendations, site search and visual merchandising. The client base has now grown to over 100 clients, including Tesco Clothing, boohoo.com (LON:BOO) and Superdry (LON:SGP).

Towards the end of trading, shares were up 22.8% at 35p.

---adds share price reaction---

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Wed, 15 Jun 2016 16:14:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/127134/attraqt-shares-surge-as-co-founder-steps-down-127134.html
<![CDATA[RNS press release - Directorate Change ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160615070010_012854160/ Wed, 15 Jun 2016 07:00:10 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20160615070010_012854160/