EG Solutions lifts full-year expectations

Back-office workforce optimisation company eg solutions reported “strong” trading in its first six months on Thursday, confirming it now expected results to be ahead of market expectations.

The AIM-traded firm said revenue for the full year to 31 January 2017 would be at least £10.5m, up from £8.2m in the 2017 full year, with adjusted EBITDA rising to at least £1.9m from £1.2m.

Contracted orders of revenues to be recognised beyond the current financial year also increased by 14%, the board claimed, to be at least £21.1m from the £18.5m reported at the end of the prior year.

“[That is] due to the increase in sales of the group's Managed Cloud Services, contracts for which are longer term in nature,” eg’s board explained in its statement.