OneView Group warns on revenues ahead of interim results

The AIM-traded company said its focus in the first half was to work with existing large global retailers to get solutions live in their store estates with “good progress” being made.

“Notable also was the signing and implementation of the first hosted customer in the UK and the signing of a second fully hosted solution at Molton Brown last month,” the board said in its statement.

“The company has seen growth in its pipeline in the EMEA region and Australia but as previously reported sales cycles are long and timing of closure can be difficult to predict, resulting in contract delays.”

OneView said it continues to see strong interest in its software and is confident that the current pipeline will deliver future growth.

Revenues in the first half were modest, however, at approximately $1m.

“The board is working with existing shareholders and newly appointed brokers Hybridan and expects to strengthen the balance sheet over the next six weeks.

“Whilst the board remains confident that the on-going discussions with potential new customers will come to fruition, there can be no certainty on timing and as a result revenues for the year may be below those achieved in the year ended 31 March 2016.”

OneView said will announce its interim results in the week of 12 December.