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Grocery tech firm Eagle Eye has enjoyed a strong end to the year as the lifting of Covid restrictions helped customers such as Pret a Manger increase transactions.

Group revenues rose 12% to £22.8m in the year ended 30 June, with adjusted EBITDA up 28% to £4.2m, the business said in a pre-close trading update.

Sales growth accelerated 27% in the final quarter of the year as the majority of lockdown restrictions eased.

During the year, Eagle Eye helped Pret launch its coffee subscription service, won a five-year contract with Australia’s Woolworths Group and secured its second US customer in the form of stationery group Staples.

Chief executive Tim Mason said: “I am proud of the performance of our team this year; securing fantastic new retailers around the world and delivering innovative solutions that add value for our customers, while dealing with the challenges of the pandemic. This has driven a good financial performance, and importantly, we have exited the year with strong momentum.

“With the AIR platform sitting at the heart of the digital marketing programmes at a growing number of the world’s largest retailers, we have demonstrated our credentials in an accelerating market, providing us with confidence in our ability to continue to deliver future growth.”

Shares in the group rose 2.6% to 554p this morning.

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