http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Tue, 17 Jul 2018 10:13:29 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - ATTRAQT building on strong foundations ]]> http://www.proactiveinvestors.co.uk/companies/news/200365/attraqt-building-on-strong-foundations-200365.html If you buy clothes online it is increasingly likely you will do so through a website in some way facilitated by ATTRAQT Group PLC (LON:ATQT).

In 2017, the group added 22 new “logos”, as it calls them, to its growing client base, taking the total number of logos well above the 200 mark. Clients include some of the best-known names in the world of couture and, importantly, an increasing amount of US firms.

READ: ATTRAQT Group shares advance as it names Luke McKeever as chief executive officer

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

Fredhopper, which ATTRAQT bought from SDL PLC (LON:SDL), is a cloud-based provider of on-site 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.

Right, said Fredhopper​

The average SaaS revenue per logo increased in 2017 by 51% to £62,000 (2016: £41,000), as ATTRAQT's solutions were taken up by larger, enterprise-grade clients. The ability to attract this type of client was a key part of the rationale behind the Fredhopper acquisition and has been an important addition to ATTRAQT’s progress in 2017, the company said.

In its full-year results for 2017, the company highlighted the impact of the Fredhopper business it acquired in 2016, which contributed to a 278% increase in revenue to £13.6mln from £3.6mln the year before.

The addition of Fredhopper to the group did, however, result in the gross margin tumbling to 69% in 2017 from 86% in 2016, reflecting Fredhopper’s lower margin of around 59%.

Before exceptional items, adjusted underlying earnings (Ebitda) were negative at around £200,000 compared to a loss the year before of £1.6mln but this was in line with management’s expectation.

The business traded on an adjusted Ebitda (pre-exceptional) positive basis in the second half of 2017.

Cash at the end of 2017 had risen to £1.6mln from £1.2mln at the end of 2016 and had risen further to £2mln at the end of February as the normal working capital movements unwound after the end of the year.

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, Arc'teryx, Beauty Bay, Hunter Boots, The White Company,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.

New hand on the tiller

In May, the group announced that it had appointed Luke McKeever as its chief executive officer, allowing interim executive chairman Nick Habgood to revert to his former non-executive role.

The group said McKeever has a strong track record in growing successful international technology businesses, both listed and private.

READ: ATTRAQT’s new chief executive joins board

It added that McKeever joins ATTRAQT from Neighbourly.com, the SaaS platform that connects high profile brands with local communities, which he joined as executive chairman in June 2014, becoming CEO in September 2015, and of which he will remain a non-executive director.

ATTRAQT also noted that its new boss served as CEO for three years at OB10, the SaaS global trading network acquired by Tungsten Corporation PLC for £101mln in 2013, and was CEO of Portrait Software, an AIM-listed customer interaction optimisation specialist.

Nick Habgood, commented: “After a very thorough process it was clear that Luke was the standout candidate to lead the enlarged group and having worked with members of the board previously, his skills both from a PLC and industry perspective are proven.”

McKeever said: "Strong foundations have been laid and I am committed to building on the momentum ATTRAQT saw towards the end of 2017, with continued innovation, new client wins and further up-sell to current customers."

]]>
Mon, 09 Jul 2018 10:21:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/200365/attraqt-building-on-strong-foundations-200365.html
<![CDATA[RNS press release - Grant of Director Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180525171850_13656549/ Fri, 25 May 2018 17:18:50 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180525171850_13656549/ <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180522110003_13650439/ Tue, 22 May 2018 11:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180522110003_13650439/ <![CDATA[News - ATTRAQT’s new chief executive joins board ]]> http://www.proactiveinvestors.co.uk/companies/news/197339/attraqts-new-chief-executive-joins-board-197339.html ATTRAQT Group plc (LON:ATQT) has confirmed that its new chief executive (CEO), Luke McKeever, has today joined the company board.

The AIM-listed online merchandising, onsite search and eCommerce personalisation provider said McKeever will replace interim executive chairman Nick Habgood, who will revert to his former non-executive role.

READ: ATTRAQT Group shares advance as it names Luke McKeever as chief executive officer

Announcing the appointment on May 1, the company said McKeever has a strong track record in growing successful international technology businesses, both listed and private.

McKeever joins ATTRAQT from Neighbourly.com, the SaaS platform that connects high profile brands with local communities, which he joined as executive chairman in June 2014, becoming CEO in September 2015, and of which he will remain a non-executive director.

He also served as CEO for three years at OB10, the SaaS global trading network acquired by Tungsten Corporation PLC for £101mln in 2013, and was CEO of Portrait Software, an AIM-listed customer interaction optimisation specialist.

When McKeever was first announced as the new company CEO on May 1, the company saw its shares rise almost 22% compared to the close on April 30, jumping from 31.1p to 38p.

As of last close on May 18, ATTRQT shares were trading at 37p.

]]>
Mon, 21 May 2018 07:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197339/attraqts-new-chief-executive-joins-board-197339.html
<![CDATA[RNS press release - Appointment of Chief Executive Officer ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180521070012_13647905/ Mon, 21 May 2018 07:00:12 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180521070012_13647905/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180517070009_13644385/ Thu, 17 May 2018 07:00:09 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180517070009_13644385/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180501094507_13625416/ Tue, 01 May 2018 09:45:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180501094507_13625416/ <![CDATA[News - ATTRAQT Group shares advance as it names Luke McKeever as chief executive officer ]]> http://www.proactiveinvestors.co.uk/companies/news/196113/attraqt-group-shares-advance-as-it-names-luke-mckeever-as-chief-executive-officer-196113.html ATTRAQT Group PLC (LON:ATQT) shares gained over 6% on Tuesday morning following news of the appointment of Luke McKeever as its chief executive officer, with interim executive chairman Nick Habgood to revert back to his former non-executive role.

The AIM-listed online merchandising, onsite search and eCommerce personalisation provider said McKeever will join the Group on 21 May 2018 and will take over the reins from Habgood following a short handover period.

READ:  ATTRAQT hails "milestone" 2017 and remains focused on securing more client wins

The group said in a statement that McKeever has a strong track record in growing successful international technology businesses, both listed and private.

It added that McKeever joins ATTRAQT from Neighbourly.com, the SaaS platform that connects high profile brands with local communities, which he joined as executive chairman in June 2014, becoming CEO in September 2015, and of which he will remain a non-executive director.

ATTRAQT also noted that its new boss served as CEO for three years at OB10, the SaaS global trading network acquired by Tungsten Corporation PLC for £101mln in 2013, and was CEO of Portrait Software, an AIM-listed customer interaction optimisation specialist.

Nick Habgood, commented: “After a very thorough process it was clear that Luke was the standout candidate to lead the enlarged Group and having worked with members of the Board previously, his skills both from a PLC and industry perspective are proven.”

He added: “With Luke's knowledge of the sector, transaction experience, relationships with retailers and proven expertise in growing software businesses, we are confident that he will drive forward the underlying operational effectiveness and performance of the business."

McKeever commented: "Strong foundations have been laid and I am committed to building on the momentum ATTRAQT saw towards the end of 2017, with continued innovation, new client wins and further upsell to current customers."

In late morning trading, ATTRAQT shares were up 6.4% at 33.5p.

 -- Adds share price --

]]>
Tue, 01 May 2018 07:45:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/196113/attraqt-group-shares-advance-as-it-names-luke-mckeever-as-chief-executive-officer-196113.html
<![CDATA[RNS press release - Appointment of Chief Executive Officer ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180501070006_13624856/ Tue, 01 May 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180501070006_13624856/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180424151635_13616873/ Tue, 24 Apr 2018 15:16:35 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180424151635_13616873/ <![CDATA[RNS press release - Notice of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180420070005_13611947/ Fri, 20 Apr 2018 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180420070005_13611947/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180417131437_13607844/ Tue, 17 Apr 2018 13:14:37 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180417131437_13607844/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180315170546_13569041/ Thu, 15 Mar 2018 17:05:46 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180315170546_13569041/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180312172549_13563956/ Mon, 12 Mar 2018 17:25:49 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180312172549_13563956/ <![CDATA[News - ATTRAQT hails "milestone" 2017 and remains focused on securing more client wins ]]> http://www.proactiveinvestors.co.uk/companies/news/192830/attraqt-hails-milestone-2017-and-remains-focused-on-securing-more-client-wins-192830.html ATTRAQT Group plc (LON:ATQT) said its strategy remains the same after a “milestone year” - to become the eCommerce acceleration platform of choice for online retailers.

In its full-year results, the company highlighted the impact of the Fredhopper business it acquired last year, which contributed to a 278% increase in revenue to £13.6mln from £3.6mln the year before.

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

The addition of Fredhopper to the group did, however, result in the gross margin tumbling to 69% in 2017 from 86% in 2016, reflecting Fredhopper’s lower margin of around 59%.

Before exceptional items, adjusted underlying earnings (Ebitda) were negative at around £200,000 compared to a loss the year before of £1.6mln but this was in line with management’s expectation.

READ: ATTRAQT to acquire larger rival Fredhopper from SDL

The business traded on an adjusted Ebitda (pre-exceptional) positive basis in the second half of 2017.

Average software-as-a-service revenue per logo increased to £62,000 from £41,000 in 2016 as ATTRAQT's solutions were taken up by larger clients.

Cash at the end of the year had risen to £1.6mln from £1.2mln at the end of 2016 and had risen further to £2mln at the end of February as the normal working capital movements unwound after the end of the year.

“It has been a milestone year for ATTRAQT, with the acquisition and successful integration of Fredhopper adding a significant level of scale and capability to the business, leading us to several noteworthy new contract wins over the period. We believe that our product offerings are best of breed, and that our customers and prospects will continue to see the value in choosing ATTRAQT,” said Nick Habgood, the interim chairman of ATTRAQT.

"The period ahead will be focused on driving the underlying operational effectiveness and performance of the business. The key to success for 2018 will be continued new client wins, and further upsell to current customers whilst minimising attrition. We have put in place the tools to enable this strategy and look forward to delivering on it in the period ahead," he added.

]]>
Thu, 08 Mar 2018 08:19:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192830/attraqt-hails-milestone-2017-and-remains-focused-on-securing-more-client-wins-192830.html
<![CDATA[RNS press release - Full Year Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180308070005_13559012/ Thu, 08 Mar 2018 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180308070005_13559012/ <![CDATA[News - ATTRAQT founder and chief executive steps down; trading in line ]]> http://www.proactiveinvestors.co.uk/companies/news/190009/attraqt-founder-and-chief-executive-steps-down-trading-in-line-190009.html André Brown, the chief executive and founder of online merchandising specialist ATTRAQT Group plc (LON:ATQT), has stepped down from his role with immediate effect.

Non-executive chairman Nick Habgood will temporarily take over the reins as interim executive chairman while the search for a new CEO is carried out.

READ: ATTRAQT Group hopping to it

Brown was one of the original founders of the business back in 2003 and oversaw the group’s admission to AIM in 2014.

“The board would like to thank André for his considerable contribution and wish him every success for the future.”

News of Brown’s departure was accompanied with a brief trading statement in which ATTRAQT said trading in the final two months of 2017 had been in line with expectations.

As a result, it expects to have generated revenues of between £1.35mln and £13.6mln last year. As of January 12, ATTRAQT had more than £2mln of cash in the bank.

READ: ATTRAQT Group expects lower revenues for 2017 after review but sales pipeline remains strong

“The market demand remains strong for ATTRAQT with research from the British Retail Consortium showing that overall online sales across the Christmas trading period rose by 7.6 per cent.”

Full-year results are expected to be published on March 8.

Shares opened 0.3% down at 31.4p.

]]>
Mon, 15 Jan 2018 08:06:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/190009/attraqt-founder-and-chief-executive-steps-down-trading-in-line-190009.html
<![CDATA[RNS press release - Board Changes & Trading Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180115070004_13495573/ Mon, 15 Jan 2018 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20180115070004_13495573/ <![CDATA[RNS press release - Grant of Director Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171220070004_13471794/ Wed, 20 Dec 2017 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8284/LSE20171220070004_13471794/ <![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.

]]>
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.

]]>
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."

]]>
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.

]]>
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/