Attraqt Sees 2021 Fiscal Performance Improving

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by Joe Hope

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Attraqt Group PLC said on Thursday it expects 2021 financial performance to increase in line with its expectations, after signing more multi-year contract renewals.

The UK-based software provider for online shopping said it signed 35 multi-year contract renewals last year, compared to 38 contracts in 2020. The company said that now 85% of its top 20 customers have signed multi-year contracts.

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The company did not provide any data for its financial expectations. However, according to estimates from Canaccord Genuity and estimates provided by FactSet, Atracat expects to report revenue of £920,000 ($1.3 million) on sales of GBP23.6 million for 2021.

“It is clear that our market opportunities are growing and are significant, with the quality of our contracts improving and as online sales continue to be important for retailers, we look forward to becoming the growth engine of choice for retailers and brands. We’re focused on demand,” Chief Executive Mark Adams said.

Shares were up 0.5 pence, or 1.6%, at 31.0 pence at 0926 GMT.

Write to Joe Hope at [email protected]

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