Shares in Eagle Eye Solutions Group PLC (AIM:EYE) surged over 12% after the Software as a Service (SaaS) technology company said it raised its profit and revenue guidance for the current financial year following strong trading.
The London-listed digital promotions and loyalty specialist said it now expects revenue and underlying profit (adjusted EBITDA) for the year to 30 June 2022 to be around 7% and 10% higher than the market consensus forecasts of £28.1mln and £5.2mln, respectively.
The company attributed its strong trading to “significant” new customer wins and the lifting of Covid-19 restrictions, and highlighted the go live of the national US grocer.
"We are delighted to have taken one of the largest grocery retailers in the US live on the AIR platform so quickly, providing us with another fantastic demonstration of the relevance of our combined offering with Neptune in this substantial market,” commented CEO Tim Mason.
"This successful go live and growing momentum in the business, combined with the underlying strength of our SaaS metrics and record new business pipeline, all combine to underpin the board's confidence in our outperformance in the current year and prospects for sustained growth."
Shares jumped 12.86% to 474.00p in midmorning trade.