Investors cheer Blur’s booming revenue despite widening losses

 
Oliver Smith
Follow Oliver
Philip Letts
Online services group Blur saw its revenues soar 303 per cent during the first half of the year to £5.69m, on the back of the growing number and value of projects it handles.

Shares in the group were up 6.79 per cent at 86.50p following the results.

Meanwhile, underlying losses at the group grew by 98 per cent widening to £3.9m during the six months to 30 June.

Blur offers an online marketplace for firms looking to buy services such as legal, design and technology work.

“In a year, we have quadrupled our revenue, trebled our bookings, completed a successful fundraising, kept our costs and headcount controls in line with our plan, and grown customer success through a 170 per cent value increase from repeat customers,” said chief executive Philip Letts.