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EYE Eagle Eye Solutions Group Plc

545.00
-17.50 (-3.11%)
Last Updated: 09:42:02
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eagle Eye Solutions Group Plc LSE:EYE London Ordinary Share GB00BKF1YD83 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -17.50 -3.11% 545.00 540.00 550.00 562.50 545.00 562.50 14,814 09:42:02
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Computer Programming Service 43.2M 1.19M 0.0404 134.90 160.19M

Eagle Eye Solutions Group PLC AGM Statement (9886V)

09/11/2017 7:01am

UK Regulatory


Eagle Eye Solutions (LSE:EYE)
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TIDMEYE

RNS Number : 9886V

Eagle Eye Solutions Group PLC

09 November 2017

9 November 2017

Eagle Eye Solutions Group plc

("Eagle Eye", the "Group", or the "Company")

AGM Trading Update

Eagle Eye is the SaaS technology company that allows businesses to create a real-time connection with their customers. At the Company's Annual General Meeting ("AGM"), to be held at 12:30 p.m. today, Malcolm Wall, Non-Executive Chairman of Eagle Eye, will make the following statement on the Group's trading:

"As previously announced, the year ended 30 June 2017 was a successful period for Eagle Eye that saw us exceed management's original revenue expectations, put in the foundations for scale and execute against our growth strategy.

The Group's momentum has continued into the current financial year and Q1 FY2018 has delivered revenue growth of 36% to GBP3.1m, in line with previous guidance. The Group's cash position at the end of Q1 FY2018 was ahead of management expectations at GBP1.7 million.

In addition to delivering on our strategy of win, transact and deepen, as reported below, we are excited to provide an update on our contract with Loblaw Companies Limited ("Loblaw").

LOBLAW

On 8 November Loblaw announced1 it will be merging two of Canada's most popular loyalty programs into one, PC Optimum. This will link analogue and digital channels together through one card, one app and one currency.

The Eagle Eye AIR platform sits at the heart of the PC Optimum loyalty platform and is integrated with Loblaw's channels and systems, enabling a single customer view. Eagle Eye AIR will enable omni-issuance and omni-redemption, allowing customers to receive loyalty offers through their preferred channels.

The PC Optimum programme is scheduled to go live on 1 February 2018, at which time the Eagle Eye AIR platform will be supporting all loyalty interactions for Loblaw supermarkets, Shoppers Drug Mart locations, PCF Financial bank services and online.

WIN

In October 2017, Scottish fashion chain M&Co. signed a five-year contract with Eagle Eye to digitise their current customer reward programme and introduce a new gift offering, supporting both digital and traditional plastic gift cards.

Also in October 2017 Eagle Eye signed a contract with Greene King to support on its Season Ticket programme and digital promotions. This important win further solidifies our position in the UK food and beverage market to 80% coverage2 and offers our brand partners greater opportunities to run measurable campaigns through an extended redemption network.

TRANSACT

Redemption volumes have seen a 50% growth on the previous quarter to 32.6m, and a 179% increase compared to the same period last year. Volume was primarily driven by growth with Sainsbury's which initially went live in Q4. In Q4 FY2017 all Sainsbury newly created instore coupons included barcodes issued and redeemed by the Eagle Eye AIR platform. In Q1 FY2018 further capability was added to include the online channel, meaning a Sainsbury's customer can receive a coupon instore and redeem it online, as long as it is connected to a loyalty identity, enabling a truly omnichannel experience.

Issuance partners form a key part of our transact strategy and during the period we were delighted to sign new framework agreements with both Groupon and Google EMEA. These two major global digital players will enable us to reach a significantly increased number of people, offering our connected merchants and brands an extended target audience and opportunity for customer acquisition.

Google

The Google contract was signed in October 2017 and the first campaign powered by our Eagle Eye AIR platform is already live with Google for 'Visa tap & win'. This enables new Visa and Android Pay users who tap to pay at any location, between now and 31 January 2018, to earn chances to win instant prizes. These include vouchers up to GBP50, redeemable at five Eagle Eye participating merchants; Greggs, Casual Dining Group, Mitchells and Butlers, M&S and Pizza Express3 proving the power of the Eagle Eye merchant network to both Google and merchants.

DEEPEN

Revenue generated from client subscription fees and transactions over the network represented 72% of total revenue in Q1 FY2018 (FY2017: 68%), illustrating the start of the transition of our key Tier 1s into the next phase of their contracts.

We are also pleased to also announce the renewal of two important clients within our food and beverage sector: Greggs (five-year contract) and Mitchells and Butlers (three-year contract). These renewals reflect the continued relevance of our solution and in both cases the Eagle Eye AIR platform is being used to power an enhanced digital experience for the customer."

For further information, please contact:

 
  Tim Mason, Chief Executive Officer      Tel: 0844 824 3686 
   Lucy Sharman-Munday, Chief Financial 
   Officer 
  Investec (Nominated Advisor and Broker) 
  Corporate Finance: David Anderson   Tel: 020 7597 5970 
    / Sebastian Lawrence 
   Corporate Broking: Matt Lewis / Rob Baker 
 
  Hudson Sandler 
  Nick Lyon/Hattie O'Reilly               Tel: 020 7796 4133 
 
   Information on Eagle Eye 
   www.eagleeye.com 
 

Eagle Eye is a leading SaaS technology company that allows businesses to create a real-time connection with their customers.

The Company's digital marketing platform, Eagle Eye AIR, enables the secure, real-time, multi-channel issuance, management and redemption of digital promotions and rewards, replacing previously used paper-based methods. Our Eagle Eye platform creates a network effect between merchants, distributors and brands enabling stronger connections and value to all parties. Through our four products we enable brands and merchants to reduce cost, improve their customer offer and accelerate their innovation.

The Company's current customer base comprises leading names in UK grocery, retail and hospitality including John Lewis, Asda, J Sainsbury, Greggs, JD Sports, Ladbrokes, Marks & Spencer, Mitchells & Butlers, Pizza Express, Tesco and Thomas Pink.

Notes:

   1.   Source: http://media.loblaw.ca/English/media-centre/press-releases/press-release-details/2017/Two-of-Canadas-most-popular-loyalty-programs---Shoppers-Optimum-and-PC-Plus---to-come-together-as-the-PC-Optimum-program-increasing-convenience-and-rewards-for-millions-of-Canadians/default.aspx 
   2.   Source calculated based on top ten pub and bar restaurants, MCA Eating out Report 2016 
   3.   Source as of 9 November 2017: https://www.android.com/intl/en_uk/pay/promotions/visa/ 

All financial information included in this announcement is sourced from unaudited management accounts and excludes any specific items. This announcement contains certain forward-looking statements that are based on management's current expectations or beliefs as well as assumptions about future events. These are subject to risk factors associated with, amongst other things, the economic and business circumstances occurring from time to time in the countries and sectors in which Eagle Eye operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause actual results, and Eagle Eye's plans and objectives, to differ materially from those currently anticipated or implied in the forward-looking statements. Investors should not place undue reliance on any such statements. Nothing in this announcement should be construed as a profit forecast.

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMFSFEFAFWSELF

(END) Dow Jones Newswires

November 09, 2017 02:01 ET (07:01 GMT)

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