Focus Solutions Group PLC
17 July 2001
17 July 2001
Embargo: 7am
Focus Solutions Group plc - AGM Trading Statement
Richard Jephcott, Chairman of Focus Solutions Group plc, will make the
following statement later today at the Company's Annual General Meeting:
'In the year to March 2001 we performed strongly across all areas of the
Group's business with revenues up by more than 300%, the announcement of our
first international partnership in North America, and an accelerated programme
of investment in new products.
I am pleased to report today that this momentum has been maintained in our
trading in the current year to date. Market demand for Focus Solutions
products continues to be strong, and revenue in the first quarter of this
financial year (to March 2002) is ahead of revenues achieved in the entire
first half of the last financial year (to March 2001). We have also announced
a second international licensing agreement for the South African market with
Spotlight Interactive.
As indicated in our preliminary results announcement, we are pressing ahead
with new product investment with a view to building shareholder value. We have
been developing a server version of goal: technology based on Java, and I am
pleased to report that this product has been completed and launched on
schedule and to budget. This product will allow life and pensions companies to
use goal: technology in a broader range of applications, including on-line
channels to market, their internet sites aimed at consumers, their extranets
for independent financial advisors, and in call centres. It is a particularly
important development to support our partnership in the North American market.
The Board believes the Company is well placed to deliver its strategic
objectives both in the UK and internationally, and remains confident about the
outlook for the year.'
ends
Enquiries
Focus Solutions Group plc 01926 468 300
John Streets
Claire Forrest
Citigate Dewe Rogerson 020 7638 9571
Chris Barrie
Sara Batchelor
Notes to editors
1. Focus Solutions Group is a leading provider of software products and
e-commerce tools for the financial services industry. The Company's
products support the sale and delivery of financial products
electronically via existing sales channels such as the independent
financial adviser (IFA) market place and direct sales. Focus's XML-based
toolkit is called goal:technology. This enables 'intelligent' electronic
proposals, which replace traditional paper-based application forms, to be
constructed quickly and efficiently by the insurance companies and
completed easily by the end user. It will allow the life, pensions,
savings and investment market to move away from the costly paper-based
sales process to electronic trading.
2. Focus has sold goal:technology to 66% of the UK's leading life and pensions
companies including Royal & Sun Alliance, Norwich Union Life, Legal &
General, Standard Life, Scottish Provident, NPI and Scottish Equitable and
Friends Provident. Focus has to date also partnered with three of the UK's
leading internet service providers specialising in financial products,
providing software to enable e-commerce transactions: Assuresoft, Exchange
FS, and Synaptic Systems.
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