Focus Solutions Group PLC
12 October 2007
Embargoed until 0700 12 October 2007
Focus Solutions Group plc
('Focus')
Trading Update
Focus Solutions Group plc (AIM: FSG), a leading supplier of adaptive software
solutions to the financial services industry, today issues a trading update for
the six months ended 30 September 2007.
For the first time, Focus has traded profitably in the first half of the year.
The business has performed strongly, continuing to make good progress in line
with our plans. Both turnover and profitability are expected to be significantly
ahead of the corresponding period in 2006 with sales revenues increased by at
least 35% to over £4 million. At the operating level, we have generated a profit
before exceptional costs, as compared to a loss of £0.3 million last year which
reflects the considerable improvements we have made to the business over the
last two years. Overall, the first half performance is consistent with market
expectations for the year as a whole.
Strong trading has been underpinned by a number of new contract extensions
signed with HSBC Bank plc and Openwork Limited during the period and the signing
of a strategic partnership with Oracle.
We continue to make progress with refining the business model in order to reduce
Focus' dependence on professional services revenues in future. This development
in turn will strengthen the quality of revenues and earnings as the percentage
of software license to service income increases.
Focus intends to announce its interim results for the six months ended 30
September 2007 in early December 2007.
Richard Stevenson, CEO of Focus commented:
"We are very pleased with the progress made during the first half of the year,
particularly the move into profitability which was achieved for the first time
at the interim stage. We continue to strengthen our customer relationships which
will help underpin the organic growth opportunities for Focus, whilst at the
same time actively exploring acquisitions which will develop our offering in our
core markets further."
Enquiries:
Focus Solutions Group 01926 468 300
Richard Stevenson, CEO / Martin Clements CFO
Seymour Pierce 020 7107 8000
Mark Percy
Smithfield 020 7903 0641
Tania Wild
Notes to editors:
Focus is an established supplier of easily configured & re-usable component
based software & business services, which enable faster, more effective & cost
efficient processing of complex customer transactions.
Focus has helped some of the world's leading public & private sector
organisations to successfully automate their most demanding customer processes.
For further information on Focus, please visit www.focus-solutions.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.