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Eagle Eye Solutions looks to profitability

Revenues rose strongly in the first-half, while recurring revenues remained above 70%

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Badda bing, Burger King: The fast food chain is an Eagle Eye customer

Eagle Eye Solutions Group PLC (LON:EYE), the digital promotions and loyalty specialist, said it was on course to meet full-year expectations and move into profit as it updated on progress.

In the six months ended December 31, revenues grew 26% to £8.2mln, while it made an adjusted underlying (EBITDA) loss of just £500,000.

Styling itself as a software as a service business, where generally the bulk of the company’s turnover is recurring, Eagle Eye said its retained customer base was around 72%, down from 75% in the same period last year.

Trumpeting deals with Waitrose and Burger King, chief executive and former Tesco executive Tim Mason said: “We are excited about the prospects for the business and we are confident in our ability to create increased shareholder value."

Quick facts: Eagle Eye Solutions Group PLC

Price: 170.5 GBX

AIM:EYE
Market: AIM
Market Cap: £43.88 m
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