Share Search
Visit the Share Search
You are here:
Attraqt sees momentum from 'strong finish' to 2020 carrying over into new year
21st Apr 2021 11:00
(Sharecast News) - Ecommerce solutions firm Attraqt Group said on Wednesday that following its "strong finish" to 2020, it had seen momentum continue into the new financial year.
Despite the ongoing Covid-19 pandemic-related uncertainty, which Attraqt said had delayed some customer decisions, the company achieved its bookings and revenue target for the first quarter and stated it was now tracking in line with expectations for the full year.
Attraqt stated its customers continued to focus on their online retail offerings to compensate for reduced sales at their brick and mortar sited. The firm noted there were signs that this was not just a response to the pandemic, but rather "a growing structural shift".
The AIM-listed group also highlighted that following a successful proof of concept trial on JD Sports' UK site, its AI Search product will now be used by the retail giant, a "clear demonstration" of the "significant" incremental value that its AI Search product provides to clients.
Chief executive Mark Adams said: "The continued sales momentum that we have seen through Q1 coupled with our ongoing investment in innovation, product development, sales and marketing provides the board with further confidence that there are significant opportunities for growth for Attraqt.
"Increasing the speed of innovation is one of our core strategic priorities and this success shows how delivering on that objective feeds through into stronger relationships with our clients. We are well placed to capitalise on the opportunities available to us and achieve our long-term growth ambitions."
As of 1100 BST, Attraqt shares were down 1.18% at 41.01p.
Despite the ongoing Covid-19 pandemic-related uncertainty, which Attraqt said had delayed some customer decisions, the company achieved its bookings and revenue target for the first quarter and stated it was now tracking in line with expectations for the full year.
Attraqt stated its customers continued to focus on their online retail offerings to compensate for reduced sales at their brick and mortar sited. The firm noted there were signs that this was not just a response to the pandemic, but rather "a growing structural shift".
The AIM-listed group also highlighted that following a successful proof of concept trial on JD Sports' UK site, its AI Search product will now be used by the retail giant, a "clear demonstration" of the "significant" incremental value that its AI Search product provides to clients.
Chief executive Mark Adams said: "The continued sales momentum that we have seen through Q1 coupled with our ongoing investment in innovation, product development, sales and marketing provides the board with further confidence that there are significant opportunities for growth for Attraqt.
"Increasing the speed of innovation is one of our core strategic priorities and this success shows how delivering on that objective feeds through into stronger relationships with our clients. We are well placed to capitalise on the opportunities available to us and achieve our long-term growth ambitions."
As of 1100 BST, Attraqt shares were down 1.18% at 41.01p.