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blur Group

  • BY: Andrew Hore |
  • POSTED: 26/11/2017 |

Spending management services provider Blur Group says that revenues and gross profit are increasing quarter-on-quarter helped by repeat business. 

New customers are also helping to create the positive momentum but it can take time to generate revenues from those customers.

Interim revenues were $211,000 and the third quarter revenues were higher than that with further growth likely in the fourth quarter.

Laurence Cook was appointed chief executive after a boardroom clear out.

Back in July £1.75m was raised at 1.75p a share with one for every four placing shares that is exercisable at 3.5p. A placing in September raised £1.2m at 4p a share. One warrant, exercisable at 6p a share, was issued with every two shares. The current share price is 6.25p. There was still £2.71m left in the bank on 22 November. Management argues that it has sufficient resources to develop the business over the next few years.

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