2ergo signs new agreements, warns of delays and signs up Peter Kenyon
In a statement issued today, the listed mobile technology company 2ergo group has announced two new agreements for its podifi platform but has also warned that some deals with larger customers are taking longer than expected. The company has also appointed Peter Kenyon to its board as a non-executive.
2ergo said that while sales were growing steadily, the board did not expect the company to return to profitability in the current year but forecast a profit for the year ending August 2014.
The company currently has cash of just under £1m with additional banking facilities in place.
The two new agreements are with JT group and the University of Salford's Student Union and are both related to the company's podifi technology, a contactless mobile loyalty and couponing system.
Other 2ergo clients include O2 and Orange, Pizza Express, Ladbrokes and Aviva.
In the statement, 2ergo said: "The group's sales pipeline is growing strongly due to the significant increase in demand for its podifi technology.
"Whilst performance is encouraging, agreements with some larger customers are taking longer than expected to finalise although are still expected to contribute in this financial year and beyond."
The company also announced that Peter Kenyon has been appointed a non-executive director with immediate effect.
Cheshire-born Kenyon rose to prominence first as head of marketing for Umbro before he joined Man Utd in 1997 as deputy chief executive with responsibility for commercial affairs. He was promoted to chief executive in August 2000 following the departure of Martin Edwards before moving to Chelsea as its CEO after Russian billionaire Roman Abramovich bought the club.
He left Chelsea in 2009 and has subsequently worked for sports and talent representation in the UK, US and Far East.
There was widespread chatter on discussion forums last year that he was working on a potential breakaway European league.