Top story
Eagle Eye is aiming to propel revenues towards £100m following a reset of the business to focus more on its software as a service (SaaS) operation.
The group, which works with the supermarkets and a wide array of retail customers, posted flat turnover of £24.2m in the six months to 31 December, with adjusted EBITDA also the same as a year ago at £5.9m.
However, Eagle Eye reported strong growth in its high-margin SaaS division, up 10% year on year, with a 36% increase in AI sales. It offset the 16% drop in professional services revenues and a 77% fall in SMS sales.
The group said it was confident of achieving medium-term milestones of £100m revenue and 30% adjusted EBITDA margin, with initiatives implemented to get there faster.
CEO Tim Mason added: “Personalisation is a priority for retailers around the world – and it’s right at the heart of our DNA, with our offerings powering many of the world’s largest and most successful loyalty programmes.
“Whilst the H1 performance was lower than we had hoped, we have reset the business and are ready to scale, with multiple avenues for growth. We have started the second half of the year with renewed momentum, energised by the progress already achieved.”
Morning update
E-commerce group Huddled has appointed Paul Simpson and Mike Ashley to its board.
Simpson joins as chief operating officer, while Ashley will sit as a independent non-executive director.
Simpson co-founded surplus goods retailer Food Circle Supermarket, which Huddled acquired in 2024 and rebranded as Nutricircle.
Ashley is a former chief commercial officer of Holland & Barrett and has held leadership roles at the likes of Boots, Argos and Dixons.
Huddled CEO Martin Higginson said the appointments were a “testament to the strength of our business and the growth opportunity we have ahead of us”.
This week in the City
It’s looking like a very quiet week on the markets for fmcg news.
Wednesday brings the latest inflation figures for the UK from the Office for National Statistics, while the Bank of England will make a decision on interest rates on Thursday.
The closely followed GfK consumer confidence index is out on Friday morning.
No comments yet