Blur Group PLC Trading Update and $17m Project (1988C)

TIDMBLUR

RNS Number : 1988C

Blur Group PLC

15 January 2015

15 January 2015

blur Group Plc

("blur" or the "Group")

Trading update and four-year, $17m project kicked off

15 January, 2015: blur, the international e-commerce company providing a better way for businesses to buy or sell services, has today confirmed that it expects its full year results for the year ended 31 December 2014 to meet market consensus forecasts. The Group continues on its previously announced and planned path towards EBITDA breakeven in Q4 2015 and positive cash flow fromQ1 2016. Currently the Group has the cash resources to sustain it through to profitability and positive cash flow.

Assisting the Group in achieving these stated goals, blur today also announced that it has kicked off a project for a new customer using the blur platform, to raise sponsorship and investment for an independent cycling team, who is planning to compete in the Tour de France and other signature events.

The project will run over a four-year period with the total project value budgeted at approximately $17m, and expected to be recognised over four calendar years. .

blur's Chief Executive Officer Philip Letts commented:

"The continued adoption of the blur platform by enterprise customers, including by this latest new customer, is a very exciting confirmation of the robustness and flexibility of the blur platform. This follows our recent announcements that we have added enterprise customers including Thales, South West Water, Realtek Semiconductor Corp, Argos and Tesco to the platform, and I am pleased to see yet more evidence of take-up at the highest levels."

-ENDS-

For further information, please contact:

 
 blur Group plc          www.blurgroup.com/investors 
 Stephen Harvey, Group   Tel: + 44 1392927409 
  CFO                     Tel: [phone] 
  Barbara Spurrier,       8182 
  Director Financial 
  Reporting 
 N+1 Singer 
 Shaun Dobson / Jen      Tel: [phone] 
  Boorer / Emily Watts    3000 
 Yellow Jersey 
 Dominic Barretto/Anna   Tel: +44 7768 
  Legge                   534641 
 

About blur Group plc at blurgroup.com

blur Group is an international e-commerce company providing a better way for business to buy or sell services. To date 50,000 businesses have used blur to buy or sell services online, including companies like Amazon, eBay, Regus, Caterpillar, Argos, Danone and GE submitting over $350m of services requirements to blur's platform.

blur Group is a public company listed on the London Stock Exchange's AIM market (BLUR) and is headquartered in the UK with regional sales offices in the US and Europe.

This information is provided by RNS

The company news service from the London Stock Exchange

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