In its final FY2018 results announced today, EU Supply (EUSP), the eprocurement software provider, has reported results in line with expectations and confirmed its first full year net profit. Strong order flow in recent weeks from the launch of new suppler services and an increasing proportion of repeating contracts that enhance the quality of revenues, lend confidence to our unchanged FY2019E forecasts for continuing growth from EUSP’s scalable business model. We also introduce FY2020E estimates which reflect continuing progress.