Software supplier upbeat on profits
MIDLAND-based financial software supplier Focus Solutions has said that operating profits before exceptional items for the full year and sales revenues will be in line with market expectations.
The Leamington Spa company, a leading supplier of multi-channel distribution solutions to the financial services industry, said in a trading update that its closing cash position stood at £2.4m, down from £2.51m 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.”
He said the AIM-listed firm had also been successful in expanding beyond its 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 RDR,” he added.
The group announces its Final Results in June.
