EU Supply expects to report maiden profit even as revenues fall short of expectations

Writer, Stock Market Wire
Friday, February 8, 2019 - 08:48

EU Supply said it expected to generate a maiden pre-tax profit for the full year even as revenue is expected fall slightly short of market expectations.

For the year ended 31 December 2018, the company expected to report a maiden profit before tax of £0.4m. Annual revenue was expected to grow by approximately 10% to approximately £5.1m, slightly below market expectations.

Significant development resources were allocated in second 2018 to build new services for buyers and suppliers, which would underpin the company's recurring revenue growth in the medium-term, EU Supply said.

The development of the company's micro procurement solution to existing and new customers was proceeding to plan and expected to further increase recurring revenue growth.

'I am pleased to report the Group's first profitable year before tax. This was achieved in a period of increased development activity during which revenue, all of which was organic, continued to grow, and for the first time exceeded £5 million,' said Thomas Beergrehn, CEO of EU Supply.

At 8:48am: (LON:EUSP) Eu Supply Plc share price was -0.25p at 10.5p


Related content

EU Supply swings to profit as revenues jump 10%

E-procurement software provider EU Supply swung to an annual profit as revenue jumped 10%.

For 2018, the company reported pre-tax profit of £0.4m, compared...

Fri, 26/04/2019 - 10:22


EU Supply signs contract with oil and gas services provider

E-procurement software provider EU Supply signed a contract with a service provider within the oil and gas sector to deliver 'some initial services' for the...

Mon, 18/03/2019 - 08:26


EU Supply wins new contracts in Denmark, Germany

E-procurement software provider EU Supply said Tuesday it had been awarded the contracts with new clients in both Denmark and Germany.

The new clients in...

Tue, 05/03/2019 - 10:02


EU Supply inks two contracts worth €0.2m

E-procurement software provider EU Supply said Wednesday it had signed two contracts worth a combined total of €0.2m both with European nuclear research organisations to...

Wed, 05/12/2018 - 07:47


EU Supply wins new contract in Denmark

EU Supply said Friday it had signed a contract with the Danish Government, covering multiple sectors, including a new contract with the Danish Ministry of...

Fri, 30/11/2018 - 09:45