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Blur Group reveals growth in enterprise activity

Published: 05:26 27 Jan 2016 EST

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"The group made solid progress in the last quarter of 2015," Letts said.

Online sourcing specialist Blur Group (LON:BLUR) saw higher levels of activity in the key enterprise business segment, and told investors it expects revenues for 2015 to be in line with market expectations.

Earnings are expected to be slightly ahead of expectations, it added, thanks to a sequential, quarterly improvement through the year.

The number of projects pitched on behalf of blur’s enterprise customers (which are defined as those with at least 50 employees) rose to 64, which represented a 12% improvement over the third quarter.

Blur added that 64 enterprise level projects ‘kicked off’ in the period, compared to 47 in the preceding quarter, while with a tally of 44 there was a 10% improvement in the number of completed enterprise projects in the three months.

As a proportion of its overall business, blur saw kicked off enterprise projects increase to 66% of all projects in the period, as reflection of its focus on acquiring loyal, repeating customer accounts.

The company told investors that its operational efficiencies continued to improve in the fourth quarter, and structural changes in the third and fourth quarters are expected to have reduced cash burn by 58% in the period.

Philip Letts, blur chief executive, said: "The group made solid progress in the last quarter of 2015.

“Our decision to focus on securing enterprise customers is proving to be effective as reflected in the increasing proportion of such customers in our overall revenue.”

He added: “As we start 2016, we are confident that the group is better positioned to exploit its enterprise strategy and help customers worldwide eliminate waste and inefficiencies in their procurement processes.”

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