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Eagle Eye Solutions wins new five-year contract with John Lewis’s Waitrose supermarket chain

The AIM-listed Software-as-a-Service (SaaS) technology company the contract extends an existing relationship with John Lewis that was first announced in May 2017, enabling the platform to connect to all customers across the group
Waitrose store
In a one-line comment on current trading included in the contract announcement, the company said that it continues to trade in-line with the board's expectations

Eagle Eye Solutions Group PLC (LON:EYE) has won a new five-year contract with the John Lewis Partnership’s Waitrose supermarket chain, which will use the group’s AIR platform to improve their digital marketing.

The AIM-listed Software-as-a-Service (SaaS) technology company said the contract extends its existing relationship with John Lewis that was first announced in May 2017, enabling the platform to connect to all customers across the group.

READ: Digital promotions group Eagle Eye inks three-year deal with Burger King

Tim Mason, Eagle Eye’s CEO, commented: "We are delighted to have won this contract with Waitrose & Partners following on from the work we have done with myJL for John Lewis and look forward to deploying our Eagle Eye AIR platform across their network of stores to drive value through personalised promotions and rewards."

In a one-line comment on current trading included in the contract announcement, the company said that it continues to trade in-line with the board's expectations.

Eagle Eye’s current customer base comprises leading names in UK Grocery, Retail and Food & Beverage, including Asda, J Sainsbury, Greggs, JD Sports, Marks & Spencer, Mitchells & Butlers, Pizza Express, Tesco and Loblaw in Canada.

In a note to clients, analysts at Shore Capital commented: "We expect the current year to June 2019 to see positive EBITDA to emerge and, under the current funded growth plan, to grow strongly into the future, leveraging high gross margins which reflect the nature of the platform over a stable operating cost base."

They added: "Ahead of interim results due in mid-March, we retain our current forecast expectations for the present. Waitrose is a further notable reference client, in our opinion, for Eagle Eye – good news then."

In late morning trading, Eagle Eye Solutions' shares were 2.9% higher at 99.50p.

 -- Adds broker comment, share price --

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