Ackroo aims to boost 2016 revenue by 50%

The Canadian technology company aims to boost revenue through a combination of organic and inorganic growth.

Ackroo provides Software-as-a-Service (SaaS)-based gift card and loyalty platform to small and medium size merchants.

Ackroo (CVE:AKR) rose in morning trading after the Canadian provider of software-as-a-service-based gift card and loyalty platform said it aims to increase its 2016 revenue by 50% over 2015.

Shares added 6.3% to C$0.017 at 9:54 a.m. in Toronto, expanding this year's rally to 26%.

Ackroo's goal is to increase revenues year over year by at least 50% through a combination of organic and inorganic growth, the Ottawa, Ontario-based company said in a statement on Wednesday.

"The company is very pleased with the success of 2015 and how well the company is positioned for the coming year," the company cited its chief executive officer Steve Levely as saying.

"The company put great focus on growth and on getting the business to break even in 2015."
Ackroo said it plans to deliver positive earnings per share and a profitable 2016."

Ackroo said it will maintain current 2015 operating costs with no more than a 10% increase to support organic growth.

The company said it will use additional capital to finance accretive acquisitions and to take advantage of significant consolidation opportunities in the segment.

Quick facts: Ackroo

Price: 0.135 CAD

Market: TSX-V
Market Cap: $10.34 m

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