Trading Update

RNS Number : 4328K

Focus Solutions Group PLC

20 April 2010

 



Press Release

20 April 2010

Focus Solutions Group plc

("Focus Solutions" or the "Group")

Trading Update

Focus Solutions, a leading supplier of multi-channel distribution solutions to the global financial services industry, today gives an update prior to the Group's Final Results for the year ended 31 March 2010. 

The Group is pleased to announce that operating profits before exceptional items for the full year and sales revenues will be in line with market expectations, with a strong closing cash position of £2.4 million, up from £2.0 million at the half year.  

Richard Stevenson, Chief Executive, said: "Focus has had a successful financial year, which is even more impressive considering the economic conditions in the last 18 months.  We have continued to deliver on our strategic goals during this time including winning significant new licence sales with organisations such as Tenet, AWD Chase de Vere and Mastek which have further diversified our customer base and grown the proportion of the company's income from licence revenue. We have also been successful in expanding the organisation globally, beyond our traditional UK and Irish markets. In particular our contract win with Mastek expands the Group's reach into North America, Europe, and Asia Pacific. 

 "We are very optimistic as we head into FY2011 with the strongest pipeline in the Group's history and demand for focus:360° and our supporting services being driven by ongoing regulation, in particular the RDR¹."

The Group will be announcing its Final Results in June 2010.

1 The Retail Distribution Review (RDR) was launched in June 2006 by the FSA to redefine the distribution landscape for the investment, life and pensions industry both for the benefit of consumers as well as for product providers and advisers.

- Ends -

For further information:

Focus Solutions Group plc
Richard Stevenson, Chief Executive	Tel: [phone]
Martin Clements, Finance Director	www.focus-solutions.co.uk

Daniel Stewart & Company plc
Andrew Edwards / Simon Leathers	Tel: [phone]
	www.danielstewart.co.uk

Media enquiries:

Abchurch
Heather Salmond / Joanne Shears / Mark Dixon	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to editors:

About Focus Solutions Group plc

Focus Solutions is an established and proven supplier of multi-channel distribution solutions to the global financial services industry.

Focus has delivered over 100 complex front office projects with multiple integration points and partners to a blue chip client base including 8 out of the top 10 UK Life & Pension providers, a number of leading bancassurers including the likes of HSBC and Irish Life, significant wealth management players such as St James's Place and a number of mortgage providers.  The technology truly enables straight through processing whilst providing an engaging client and adviser experience to submit and service business electronically. 

focus:360° is at the core of all client implementations providing a single, agile, multi-channel technology platform.  Focus has brought together three key areas of expertise: software, consultancy and service delivery. This totally integrated approach means clients can distribute any product across any channel. At the same time they can maintain an enterprise-wide view of the customer value and risk.

For further information on Focus, please visit www.focus-solutions.co.uk

 

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