Blur Group PLC 2014 bookings of $49.1m doubling 2013 bookings (3106D)

TIDMBLUR

RNS Number : 3106D

Blur Group PLC

28 January 2015

blur Group Plc

("blur")

blur Group (LSE: BLUR) announces 2014 bookings of $49.1m, more than doubling 2013 bookings

28th January 2015: blur, the international e-commerce company providing a better way for businesses to buy or sell services, announces project bookings* for the full year 2014 of $49.1m (2013 $22.2m); more than double previous full year bookings.

Bookings in the second half of 2014 increased by 94% year-on-year to $33.1m (H2 2013: $17.0m). Moreover, around 40% of these bookings were from enterprise customers** (approximately 20% in 2013).

blur is currently adding over 2,000 exchange users to the platform per month, and has fully vetted service providers from 145 countries. To date, over 50,000 businesses, including Amazon, Regus, Caterpillar, Argos, Danone and GE, have adopted blur to buy or sell services online, with over $350m of projects submitted to the platform.

blur's Chief Executive Officer Philip Letts commented: "These results clearly demonstrate the importance of enterprise customers to the long term success of blur. 2014 was a pivotal year for blur, as demonstrated by the doubling of project bookings, the level of repeat business and the increasing adoption of the platform by larger enterprise customers. The release of blur 4.0 delivered an enterprise class solution to our users, which, combined with blur's customer focus, is persuading more and more businesses to buy or sell business services online. "

-ENDS-

For further information, please contact:

 
 blur Group plc          www.blurgroup.com/investors 
 Stephen Harvey, Group   Tel: + 44 1392 927 
  CFO                     409 
 Barbara Spurrier,       Tel: [phone] 
  Director Financial 
  Reporting 
 N+1 Singer 
 Shaun Dobson / Jen      Tel: [phone] 
  Boorer / Emily Watts 
 Yellow Jersey 
 Dominic Barretto/Anna   Tel: [phone] 
  Legge 
 

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 over 50,000 businesses, such as Amazon, Regus, Caterpillar, Argos, Danone and GE, have used blur to buy or sell services online, submitting over $350m of services requirements to the 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.

*The total bookings intake represents the project values (excluding listing fees) as agreed and confirmed by the customer in the year. It is used to measure the total expected revenue to be recognised over the life cycle of these projects and can include a proportion that is contingent, with revenues being recognised in the current and future periods, either over timelines or upon milestones being achieved. This booking value may change over time due to the scale, contingent elements and complexity of projects.

** blur defines Enterprise customers as those with greater than $500m p.a. turnover

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBRMRTMBATBLA