ATTRAQT Group PLC – Interim Results

ATTRAQT Group PLC – Interim Results

ATTRAQT Group plc (AIM: ATQT), a leading provider of online merchandising, onsite search and eCommerce personalisation, announces its unaudited results for the six months ended 30 June 2018.

Highlights of the period:

  • Revenue increased 11% to £8.4m on a like-for-like basis*
  • Revenue increased 53% to £8.4m on a statutory basis (H1 2017: £5.5m)
  • Gross profit increased by 15% to £4.9m on a like-for-like basis*
  • Gross profit increased 27% to £4.9m (H1 2017: £3.9m)
  • Gross profit margin for the Group increased by 2% to 59% on a like-for-like basis*
  • Adjusted EBITDA losses were £0.2m (H1 2017: £0.5m losses)
  • Losses before tax were £1.8m (H1 2017: £3.1m losses)
  • Adjusted basic EPS loss 1.7p per share (H1 2017: 4.0p loss per share)
  • Cash at period end of £1.6m (FY 2017: £1.6m)
  • Average SaaS revenue per logo up 17% to £83k (2017: £71k)
  • Launched two new products: personalised recommendations and visual recommendations
  • 89 client renewals including two-year renewal for the Group’s largest customer

 * 2017 like-for-like figures include Fredhopper contribution as if it had formed part of the Group during that period.

Post-period highlights:

  • One new logo signed with two global brands in early July

Nick Habgood, Chairman, commented,  “Over the period we have taken significant steps to drive the underlying operational effectiveness and performance of the business. We have continued to build upon our strong product set, with further product innovation and platform integration to serve a blue-chip client base in an exciting and growing market place.

We were very pleased to have Luke join the business in May and are confident that, amongst his wider skill set, his sales and marketing expertise will have a positive impact going forward. The Board is confident that trading for the full year will be in line with current market expectations and with a new management team in place, process improvement initiatives rolling out, and a clear strategy we have the right component to deliver strong profitable growth and returns for all of the Company’s stakeholders.”

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