eg solutions announces ambitions to be a global business

STAFFORDSHIRE-based back office software supplier eg solutions has said it is confident of meeting full year expectations and is targeting future growth in the financial markets of the high-growth economies.

The firm, which has seen first half profit drop as a result of investment in product development for new contracts, has surged ahead in terms of its ambitions.

While its former service contracts were to users of around 4,000 staff, advances in technology and new products suites mean the company is now looking for organisations with up to 80,000 staff.

Such an advance means the Dunston company is preparing to step onto the world stage and is intent of establishing itself as a global player.

However, chief executive Elizabeth Gooch said the firm’s ambitions were not matched by potential recruits.

“We have a hard time attracting the staff we need which will enable us to move onto the next stage of our development – for example we haven’t received a single speculative application from any graduate looking to start a career for themselves,” she said.

“We have now hired a delivery manager so that we can try and rectify this. We have also forged links with Staffordshire University to see if we can attract graduates that way.

“It’s very frustrating sometimes and I think it’s because we are probably Staffordshire’s best-kept secret.”

Ms Gooch said the company was specifically targeting the financial sectors of the high-growth economies because that’s where future opportunities would be created.

“The financial sector is not expecting massive growth and there is a focus on keeping costs down. With this in mind many are looking at the back office operations to see whether savings can be made,” she said.

“We are aiming to help organisations optimise their performance, which is why our range of product suites have proved so popular.”

South Africa is one market where the company believes there will be growth and it already does extensive business in the country.

“We think there are opportunities there but equally there will be opportunities elsewhere; it is all to do with us stepping up and becoming a global business,” added Ms Gooch.

For the six months to July 31, the company achieved revenues of £2.845m (2011: £2,659m), while pre-tax profit reached £178,000 (2011: £279,000).