ATTRAQT Group PLC Pre-Close Update (2949F)

TIDMATQT

RNS Number : 2949F

ATTRAQT Group PLC

27 July 2016

27 July 2016

This announcement contains inside information

ATTRAQT Group plc

("ATTRAQT", the "Group" or the "Company")

PRE-CLOSE UPDATE

Strong KPI improvements and significant client extension signed

ATTRAQT Group plc (AIM: ATQT), a leading provider of eCommerce visual merchandising, site search and recommendation technology, is pleased to provide the following pre-close update on trading for the six months ended 30 June 2016.

The Group has seen strong improvements in its operational, financial and KPI performance in the first half of 2016 and is on course to deliver results for FY2016 in-line with market expectations.

ATTRAQT continues to see a strong uptake for its Freestyle merchandising platform from retailers in both the UK and international markets. The Group signed 22 new contracts in the period (H1 2015: 23), including four new clients in North America and 14 new clients in the UK. The new clients include Fraser Hart & Fields, JoJo Maman Bebe, Leekes, L.K. Bennett, The North Face, OKA Direct, The Original Factory Shop, Timberland and Vans. The total monthly revenue increment from new clients signed in the period represents a 40% increase in comparison to the same period in 2015. As announced on 18 July 2016, post period end, the Group also secured the renewal of the existing boohoo.com contract (a client since 2009) for a further two years, effective from 1 August 2016.

The Company's focus on tradeshows in H1 2016 has proved successful and has helped to support the strong sales pipeline that the Group has in place for H2 2016 and into 2017.

The Group delivered a solid financial performance in the period. Continued investment in the Group's production processes has driven increased efficiencies, with 17 new sites launched in the period (H1 2015: 9) and a strong production pipeline in place for the second half. The Group also achieved a 229% increase in the value of new client sites delivered during H1, compared to the same period last year. Platform usage has also continued to grow with a 32% increase in page impressions H1 2016 vs H1 2015 and site search usage up by 65%.

Finally, ATTRAQT has continued to invest in platform enhancements and product development. H1 2016 saw the introduction of its new hyper-caching technology which provides a significant increase in platform capacity and performance. One of the first clients to benefit from the technology has a product catalogue in excess of 200,000 skus.

Results for the six months ended 30 June 2015 are expected to be released on 15(th) September 2016.

André Brown, CEO of ATTRAQT Group plc, commented:

"I am very pleased with the operational and financial performance of the Group in the period, and our continued progress across the UK, Europe and North America. The number and quality of our new client wins underlines the significant contribution the ATTRAQT Freestyle Merchandising Platform makes in helping our retail clients maximise their eCommerce offer.

"We enter the second half of the year with a strong sales and production pipeline and confidence in the outlook for the full year and we look forward to updating shareholders further at the Interims in September."

For further information, please contact:

 
ATTRAQT Group plc                                     via Newgate 
André Brown, CEO 
Mark Johnson, CFO 
 
N+1 Singer                                            Tel: [phone] 
Shaun Dobson, Lauren Kettle 
 
Newgate                                               Tel: [phone] 
Madeleine Palmstierna, Adam Lloyd, Charlotte Coulson 
 
 
 
 

About ATTRAQT

ATTRAQT launched its merchandising platform, Freestyle Merchandising, in 2009 which included product recommendations, site search and visual merchandising. The client base has now grown to over 100 clients, including Tesco Clothing (part of Tesco Plc (LSE: TSCO)), boohoo.com (LSE: BOO) and Superdry (LSE: SGP). The Group has market presence in Western Europe and North America with offices in London and Chicago. For more information please visit: http://attraqt.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 27, 2016 02:00 ET (06:00 GMT)