Ackroo ends 2014 with strong quarter, promotes executive

Ottawa-based Ackroo announced a strong finish to 2014 on Monday, posting fourth-quarter revenues 16 per cent higher than the previous three-month period.

The gift card, loyalty and rewards technology and services provider announced unaudited fourth-quarter revenues of $374,760. It said it expects to confirm this number and other financial figures in March once the audit is complete.

Ackroo CEO Steve Levely said the strong quarter validates his company’s growth strategy.

“During the quarter we delivered major enhancements to our product offering, further reduced our operating costs, recapitalized the company through our most recent private placement and grew our merchant footprint and revenues,” Mr. Levely said in a statement. “All of these achievements allowed us to deliver our best quarter of 2014 coupled with back-to-back double-digit growth quarters.”

Mr. Levely said he was looking forward to more product enhancement and growth in what he called “a very exciting 2015.”

Ackroo (TSX-V: AKR) also announced vice-president of finance and operations Helena Mancini has been promoted to executive vice-president of operations.

Ms. Mancini will be leading all aspects of the company’s operations, including research and development, sales and marketing.