Blur Group PLC Trading Update and $17m Project (1988C)
January 15 2015 - 2:00AM
UK Regulatory
TIDMBLUR
RNS Number : 1988C
Blur Group PLC
15 January 2015
15 January 2015
blur Group Plc
("blur" or the "Group")
Trading update and four-year, $17m project kicked off
15 January, 2015: blur, the international e-commerce company
providing a better way for businesses to buy or sell services, has
today confirmed that it expects its full year results for the year
ended 31 December 2014 to meet market consensus forecasts. The
Group continues on its previously announced and planned path
towards EBITDA breakeven in Q4 2015 and positive cash flow fromQ1
2016. Currently the Group has the cash resources to sustain it
through to profitability and positive cash flow.
Assisting the Group in achieving these stated goals, blur today
also announced that it has kicked off a project for a new customer
using the blur platform, to raise sponsorship and investment for an
independent cycling team, who is planning to compete in the Tour de
France and other signature events.
The project will run over a four-year period with the total
project value budgeted at approximately $17m, and expected to be
recognised over four calendar years. .
blur's Chief Executive Officer Philip Letts commented:
"The continued adoption of the blur platform by enterprise
customers, including by this latest new customer, is a very
exciting confirmation of the robustness and flexibility of the blur
platform. This follows our recent announcements that we have added
enterprise customers including Thales, South West Water, Realtek
Semiconductor Corp, Argos and Tesco to the platform, and I am
pleased to see yet more evidence of take-up at the highest
levels."
-ENDS-
For further information, please contact:
blur Group plc www.blurgroup.com/investors
Stephen Harvey, Group Tel: + 44 1392927409
CFO Tel: +44 203 475
Barbara Spurrier, 8182
Director Financial
Reporting
N+1 Singer
Shaun Dobson / Jen Tel: +44 20 7496
Boorer / Emily Watts 3000
Yellow Jersey
Dominic Barretto/Anna Tel: +44 7768
Legge 534641
About blur Group plc at blurgroup.com
blur Group is an international e-commerce company providing a
better way for business to buy or sell services. To date 50,000
businesses have used blur to buy or sell services online, including
companies like Amazon, eBay, Regus, Caterpillar, Argos, Danone and
GE submitting over $350m of services requirements to blur's
platform.
blur Group is a public company listed on the London Stock
Exchange's AIM market (BLUR) and is headquartered in the UK with
regional sales offices in the US and Europe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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