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Eagle Eye Solutions Group PLC on Tuesday said it expects annual profit to come in ahead of expectations, as strong second-half trading offset the impact of a lost client contract. In a trading update, the company also announced a share buyback of up to £1.0 million. The London-based provider of software-as-a-service marketing solutions said adjusted earnings before interest, tax, depreciation and amortisation rose 9% to £12.2 million for the year ended June 30 from £11.3 million the year before. This was ahead of current market expectations. Revenue rose 1.0% to £48.2 million from £47.7 million. Recurring revenue grew 11% to £40.2 million from £36.1 million, and now makes up 83% of group revenue, up from 76% in financial 2024. However, annual recurring revenue dropped 19% to £32.0 million from £39.7 million, reflecting the loss of a contract via Neptune Retail Solutions. Eagle Eye said the client loss is being offset by underlying growth and cost savings. Net cash stood at £12.3 million, up 18% from £10.4 million, even after completing the acquisition of Promotional Payments Solutions for £4.7 million at the end of the year. The company said six blue-chip customers joined in the second half, including Galeries Lafayette and Viva Energy Australia. A previously announced partnership with a major global software vendor remains on track, Eagle Eye said, with customer contracts expected in the first half of financial 2026 and material revenue anticipated in financial 2027. At the end of last month, Eagle Eye announced the acquisition of Promotional Payments Solutions Ltd, a Dublin-based SaaS company specialising in digital promotions and loyalty solutions for enterprise retailers and consumer packaged goods companies for a net prie of €5.5 million. Eagle Eye also on Tuesday launched a share buyback of up to £1.0 million to be executed by February 2026, citing confidence in its growth strategy and what it feels is an undervaluation of its shares by the market. Eagle Eye was up 9.5% to 230.00 pence in London on Tuesday afternoon. The company will report full-year results on September 16. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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