ATTRAQT Group PLC Trading Update (6212L)
January 14 2021 - 2:00AM
UK Regulatory
TIDMATQT
RNS Number : 6212L
ATTRAQT Group PLC
14 January 2021
14 January 2021
Attraqt Group plc
("Attraqt" or the "Company")
Trading Update and Notice of Results
Attraqt Group plc (AIM: ATQT), a leading provider of online
search, merchandising and personalization solutions for ecommerce,
is pleased to announce its trading update for the year ended 31
December 2020.
The second half of the year has seen strong momentum built with
recurring revenue bookings 80% higher than in the first half,
achieved from both existing and new customers. Momentum has been
driven by the significant growth in online retail, the addition of
innovative Artificial Intelligence (AI) Search capabilities which
were acquired from Aleph Search in October 2020, and a continued
focus on execution. Consequently, revenue and EBITDA for the full
year are expected to show growth in line with market
expectations.
The Group signed 38 multi-year contract renewals in the year,
compared with 21 renewals in 2019. This included a three-year
contract renewal in the second half with one of its top five
customers, a leading global sportswear retailer, with a value of
GBP2.4m. The increase in renewals is testament to the ongoing
strength of Attraqt's offering and illustrates how integral the
Group's software is to the effective operation of many of the
world's leading retail brands' online retail operations.
Since the initial onset of the pandemic in March, the Group has
seen a significant and sustained increase in usage volume
(e-commerce website activity) across the customer base. The
widespread adoption of online retail has accelerated with monthly
traffic on the Attraqt platform up between 15% and 45% compared to
2019. With further lockdowns and retail stores closed in key
territories these increased traffic levels are expected to persist
in the short term and for there to be a continued trend of
eCommerce sales growth outpacing pre-Covid levels in the longer
term. Once again, we were pleased that our systems recorded 100%
availability through the peak trading periods of Black Friday and
Christmas.
Despite the momentum seen in the second half, we remain
cognisant of the pandemic's ongoing impact on the global economy
and customer decision making.
The Company currently expects to announce its annual results in
early March 2021.
For further enquiries please contact:
Attraqt Group plc Via Alma PR
Mark Adams, CEO
Eric Dodd, CFO
Canaccord Genuity (Nominated Adviser)
Simon Bridges
Adam James
Thomas Diehl +44 (0)20 7523 8000
Alma PR +44 (0)20 3405 0205
Rebecca Sanders-Hewett attraqt@almapr.co.uk
Susie Hudson
Sam Modlin
About Attraqt Group plc
Attraqt powers exceptional shopping experiences for over 300 of
the world's leading brands, manufacturers and retailers. Attraqt
provides a set of API-enabled, algorithm-driven, intelligent SaaS
services covering personalization, search, navigation,
merchandising, recommendations and internationalization.
The platform unifies and empowers all key customer journey
stakeholders. Enabling business, data and technical teams to
successfully leverage existing eCommerce technology investments.
Ultimately ensuring individualized and connected micro-experiences
that support commerce discovery through to inspiration and
purchase, and beyond.
The Attraqt platform orchestrates AI models in real-time while
allowing clients to integrate their own algorithms. This helps
build true personalization strategies and creates differentiated
experiences at scale, so our customers can exceed the expectations
of today's shopper, while reaching commercial goals.
Attraqt is publicly listed on LSE: AIM and headquartered in
London, with offices in Amsterdam, Chicago, Paris, Sofia, Hamburg
and Sydney.
www.attraqt.com
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