E-commerce enabler blur Group PLC (LON:BLUR) is on an upward trajectory, with third quarter gross profit and revenue ahead of first-half levels.
In a brief trading update, management said the fourth quarter is expected to see another quarter-on-quarter improvement.
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"I have been encouraged by the increasing rate of repeat business we are getting from existing customers and the addition of significant new customers,” said Laurence Cook, chief executive officer of blur.
“Although there is usually a lead time between the signing of a new customer and subsequently the building of momentum on the platform, the current trend is promising. It is reassuring that we now have sufficient resources to develop the business further over the next few years," he added.
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The group’s cash balance as at November 22 was £2.71mln.
In late afernoon trading, blur shares were 13%, or 0.6% higher at 5.38p.
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