Increased expectations for the full year

RNS Number : 8307Z

Alfa Financial Software Hldgs PLC

20 September 2022

 

20 September 2022

Alfa Financial Software Holdings PLC

Increased expectations for the full year

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), a leading developer of mission-critical software for the asset finance industry provides this update on trading.

Trading

Since the announcement of our half year results on 1 September 2022 we have obtained improved contractual certainty with two clients as well as requests for additional people on other projects. August performance was very strong with chargeable days at a record level. In addition, a high level of approvals received from clients for development by our product engineering teams has boosted Software revenue in August and this has continued into September.

Outlook

The improved contractual certainty and strong trading means that our expectations for full year revenue have increased by approximately two million Sterling, with most of this benefit falling through to operating profit. The Board remains confident that the Group's strong intellectual property, strategy and business model will maintain its market-leading position, financial performance and continued growth.

Andrew Denton, Chief Executive Officer of Alfa, said:

"I am very happy that we have had a record chargeable month and good Software revenue performance in August and this along with a strong trading start to the second half has enabled us to increase our expectations for the full year. The strength of our order book, our sales execution and our pipeline continue to give us confidence in our future prospects."

Enquiries

Alfa Financial Software Holdings PLC Andrew Denton, Chief Executive Officer Duncan Magrath, Chief Financial Officer  and	[phone]
Tulchan Communications LLP James Macey White Ed Cropley	[phone]

LEI : 213800C5UOZHUTNUGA28

This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies.  Forward-looking statements speak only as of the date they are made.

Notes to Editors

Alfa has been delivering software systems and consultancy services to the global asset and automotive finance industry since 1990.  Our best practice methodologies and specialised knowledge of asset finance facilitates delivery of large software implementations and highly complex business change projects.  With an excellent delivery track record now into its fourth decade, Alfa's experience and performance is unrivalled in the industry.

Alfa Systems, our class-leading technology platform, is at the heart of some of the world's largest asset finance companies. Key to the business case for each implementation is Alfa Systems' ability to replace multiple customer systems with our single platform. Alfa Systems supports both retail and corporate business for auto, equipment, wholesale and dealer finance on a multijurisdictional basis, including leases/loans, originations and servicing. An end-to-end solution with integrated workflow and automated processing using business rules, Alfa Systems provides compelling solutions to asset finance companies.

Alfa Systems is currently live in 37 countries.  Alfa has offices in Europe, Australasia and North America.  For more information, visit www.alfasystems.com.

 

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