Change of corporate broker and trading update

RNS Number : 7331S

Alfa Financial Software Hldgs PLC

13 July 2020

 

 13 July 2020

Alfa Financial Software Holdings PLC

Change of corporate broker and trading update

Alfa Financial Software Holdings PLC ("Alfa" or the "Company"), a leading developer of mission-critical software for the asset finance industry, today announces the appointment of Investec Bank plc as corporate broker to work alongside existing corporate broker Barclays Bank plc with immediate effect . 

Trading in the first six months of the financial year ending 31 December 2020 has been better than expected.  Demand has been largely resilient to the pandemic.  The impact of remote working has had little impact on our operations, other than fewer holidays being taken than normal, and as a consequence an increase in the number of days work delivered to clients.  Cash performance has remained strong with net cash increasing in the period, further strengthening the balance sheet.

In the second half we expect to see a catch-up of holidays being taken by our people, and we continue to be wary of the potential for disruption to our current work schedule and future prospects from changes in client's priorities and plans.  We remain cautiously optimistic for the outlook for the business, although there still remains some weakness in the early stage pipeline due to a reduction in clients initiating projects as a result of the pandemic, which could also impact the business in 2021. 

Enquiries

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

Notes to Editors

Alfa has been delivering 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 our delivery of large software implementations and highly complex business change projects. With an excellent delivery history over nearly three decades in the industry, Alfa's experience and performance is unrivalled.

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 client systems on a 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 used by customers or has live implementations in 26 countries and Alfa has offices in Europe, Australasia and North America.  For more information, visit www.alfasystems.com

 

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