ATTRAQT Group PLC AGM Statement (4408R)

TIDMATQT

RNS Number : 4408R

ATTRAQT Group PLC

30 June 2020

30 June 2020

Attraqt Group plc

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

AGM Statement

Attraqt Group plc (AIM: ATQT), a leading provider of online experience orchestration, will hold its Annual General Meeting at 11:15 am today. At the meeting Nick Habgood, Non-Executive Chairman, will make the following statement:

"I would like to take this opportunity to update on the resilient performance delivered by the Group across April, May and June.

With our teams operating from home and continuing to service our customers , the influence of Covid-19 on trading has continued to be limited. The Company's recurring revenue model, with many customers on multi-year contracts, has served the company well and recurring license-based revenues have remained stable. Whilst increased uncertainty has meant that naturally, decision making during the pandemic has been significantly slower, impacting new bookings, the pipeline remains healthy and engagement with our current customers has never been stronger.

A number of retailers and industry experts have noted that COVID-19 appears to have accelerated the adoption of online shopping and are forecasting that that the online channel will be of greater relative importance and will receive investment going forward. This bodes well for Attraqt.

Although it is clear that uncertainty will persist for some time, we are confident that we are in a strong position. Thanks to our robust balance sheet, effective remote operation and recurring revenue model, we remain resilient and look forward to being a key part of our customers' online experience at this critical time and beyond."

For further enquiries please contact:

 
 Attraqt Group plc         07747 766 849 
 Eric Dodd, CFO 
 
 Canaccord Genuity         [phone] 
 Simon Bridges 
 Adam James 
 Tom Diehl 
 
 Alma PR                   [phone] 
 Rebecca Sanders-Hewett    [e-mail] 
 Susie Hudson 
 Sam Modlin 
 

About Attraqt Group plc

Attraqt powers exceptional shopping experiences for over 300 of the world's leading retail brands. The Company delivers omnichannel search, merchandising, and product & content personalization for retailers and brands. Simple-to-use interfaces and efficient workflows enable Merchandisers to take full control and enhance the value of smart automation with their own strategic expertise and creativity.

In 2019, Attraqt acquired Early Birds, the award-winning AI-driven personalization software provider. Together, the two companies combine Attraqt's pedigree in data-led search and merchandising capabilities to optimize product discovery and visual curation, with Early Birds' award-winning ability to empower learning algorithms to orchestrate and personalize the entire shopper journey. The benefits to retailers and brands will be the ability to orchestrate enhanced shopper journeys that also deliver superior commercial returns.

For more information visit www.attraqt.com

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June 30, 2020 02:00 ET (06:00 GMT)