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Albert Technologies scales back revenue target but still expects healthy rise

Artificial intelligence specialist won't double revenue as previously hoped but still expects signfiicant growth

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AI is at heart of Albert's technology

Albert Technologies PLC’s (LON:ALB)  revenues have been on par with 2018 in the first four months of the current year.

The AI-based advertising analytics group said while it was seeing its pipeline of opportunities grow, ramping up activity with larger clients was taking longer than expected.

As a result, it does not expect to hit its target of doubling revenues in 2019 though there should still be a significant improvement over 2018's US$4.6mln.

Albert added that several existing enterprise clients had expanded their activity with the group this year while others were in talks about doing so.

The start of 2019 saw twelve new potential enterprise clients start to test the technology and the majority of these are expected to convert by the end of the year. 

On its agency side, Albert also expects to add some mid-sized agencies to its client portfolio on top of in addition to the three global agencies already on its roster.

 

 

 

 

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Albert Technologies reports near three-fold increase in 2018 revenues

Or Shani, chief executive of Albert Technologies Ltd. (LON:ALB), speaks to Proactive London following the release of its 2018 results. Shani says the results met budget expectations with revenues increasing to $4.6m - significantly up on the $1.7mln achieved in 2017. He says they also...

on 26/3/19

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