Eagle Eye Solutions Group, the marketing company set up with backing from former Tesco group chief executive Sir Terry Leahy, has reported a 71% increase in revenue to £11.1m in its latest results and claimed it is poised for “accelerated progress” in 2018.
The AIM-listed company, which counts John Lewis and Asda among its client base, provides digital consumer engagement solutions for the grocery, retail, and hospitality industries in the UK and internationally.
The results mean that pre-tax losses have narrowed to £3.9m from £4.1m, however, it recently announced plans to raise a further £6m to boost its operations and fuel further expansion.
Chief executive Tim Mason said: “2017 has been a transformational year for Eagle Eye. We’ve successfully delivered on our strategy of winning new customers, increasing transactions through our platform and deepening existing customer relationships. As a result we exceeded our expectations during the year, strengthened our platform and are poised for accelerated progress in 2018.
“Retailers and brands are looking for more innovative and cost effective ways to engage with consumers, and we have the proven and scalable technology to power their digital marketing capabilities and support their commercial requirements.”
Among Eagle Eye’s corporate highlights for the year was signing a three-year contract with John Lewis in May 2017 and renewing a two-year contract with Toshiba Global Commerce Solutions for Asda.
Mason added: “Renewing and winning new contracts with major retailers such as John Lewis and Asda demonstrates the relevance of our offering to tier 1 retailers, and we are excited about continuing on our journey to be a leading global digital marketing platform.”
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