Business
Pre-close update - in line with expectations
Pre-close update - in line with expectations.
About this update from Alfa Financial Software Holdings Plc
[{"type":"text","content":"\n \n \n 28 July 2022\n \n \n \n Alfa Financial Software Holdings PLC\n \n \n \n \n Pre-close update - in line with expectations\n \n \n \n \n \n \n Alfa Financial Software Holdings PLC (\"Alfa\" or the \"Company\"), a leading developer of mission-critical software for the asset finance industry provides this update on trading. The half-year results are expected to be announced on Thursday 1 September 2022.\n \n \n \n \n \n \n Operational Performance\n \n \n \n In the second quarter we have seen further strong delivery for our customers and we have made very good progress with partner utilisation.\n \n \n The market for talent remains competitive but we have continued to retain and grow our talent pool and we are in line with our plans at the half year point.\n \n \n Our pipeline has increased during the half year and it is healthy across all stages. We continue to sign new business and our Total Contract Value has grown.\n \n \n \n \n \n \n Trading\n \n \n \n Trading was in line with our expectations with good revenue growth in the first half benefiting from continued growth in Subscription revenues and also the effect of favourable exchange rates.\n Services revenue was slightly up on the first half of last year despite additional vacation days being taken. Software revenue was in line with the first half last year. Cash generation has remained strong.\n \n \n Demand remains strong at the half year point, but we remain conscious that the current macro-economic uncertainty is likely to continue. Our global reach and continuing reduction in customer concentration along with strong sales drivers like the requirement for agility, digitalisation and regulatory push factors add protection for Alfa's growth and performance.\n \n \n \n \n \n \n Outlook\n \n \n \n We remain confident of achieving full year market expectations and we believe that we still have the opportunity to exceed them through our second half performance. The Board remains very confident that the Group's strong intellectual property, strategy and business model will maintain its market-leading position, financial performance and continued growth.\n \n \n \n \n \n \n \n \n Andrew Denton, Chief Executive Officer of Alfa, said:\n \n \n \n \"I am very happy with our performance in the first half of 2022. The strength of our order boo...