eg solutions bullish for H2 prospects

STAFFORDSHIRE financial software supplier eg solutions is hoping for an improved second half as it looks to banish memories of a difficult start to 2012.

Chairman Rodney Baker-Bates said in an AGM statement indications were that the back office optimisation market was gaining momentum and the firm was in a strong position to reap the rewards from this.

“The market trends continue to be positive with renewed uncertainty in the Eurozone underpinning demand from financial institutions seeking to improve efficiency and control costs,” he said.
 
He said the firm’s focus for the first four months of the year had been on implementing projects and investing in pilot projects which were won at the end of last year.  
 
“Progress with pilot projects has been encouraging, with two nearing completion having demonstrated at least the 20% benefit agreed with the clients and with others scheduled to complete in the second half.  We expect successful completion of pilot projects will result in roll-out projects which could substantially benefit the financial performance for the year,” he added.    
 
In the meantime, trading was in line with management expectations and he said the focus on costs was delivering a positive impact on profitability and cashflow.
 
“Overall, the board is excited about eg’s prospects and we believe that the current year will be one of continued progress both on a product and business level,” he said.