Continuing growth and progress
EU Supply (“EUSP”), the e-procurement software provider, has announced final FY2017 results in line with our forecasts and its previous trading update. It has reported for FY2017 its first annual operating profit and revenue growth of 36%. EUSP has a largely repeating revenue base in a market benefitting from the implementation of EU directives for mandatory e-tendering by public bodies. With growth continuing into Q1 FY2018, we maintain FY2018 forecasts.