Business
Strong Q3 trading full-year expectations increased
Strong Q3 trading full-year expectations increased.
About this update from Alfa Financial Software Holdings Plc
[{"type":"text","content":"\n \n \n 10 November 2022\n \n \n \n Alfa Financial Software Holdings PLC\n \n \n \n \n Strong Q3 trading, full-year expectations increased\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 for the third quarter of the year ended on 30 September 2022.\n \n \n \n \n \n Operational performance\n \n \n Operational delivery has continued at pace in the third quarter with seven upgrades delivered in the period. We continue to develop and expand our partner program and have made significant progress in the US where this month we have our first partners working on projects. \n \n \n Our Smart Hub in Portugal is now live and we are accelerating recruitment of additional developers in Lisbon. \n \n \n Alfa Systems Version 5.7 has been launched. This was an opportunity to tell the market about two years of technical and functional innovation that is already bringing enormous benefits to Alfa customers.\n \n \n We were also delighted to be ranked number four in the UK's Top 100 Most Loved Workplace list by Newsweek, a great external endorsement of the continuing strength of the Alfa culture.\n \n \n \n \n \n Q3 Trading\n \n \n As noted in our trading update on 20 September 2022, trading since the half year has been strong. We finished Q3 with revenues for the quarter of £25m. This was 25% up on the £20m we recorded for the same period last year, driven by strong levels of chargeability in both our Implementation and Product Engineering teams, the latter delivering record levels of development for customers.\n \n \n We continue to be a highly cash generative business and our net cash balance at 31 October 2022 was £21m, having paid the Special Dividend of £10.5m on 7 October 2022.\n \n \n \n \n \n Outlook\n \n \n We finished September strongly and this performance continued into October. As a consequence our expectations for full year revenue have increased by approximately £1.5 million Sterling, with all of this falling through to operating profit. The Board remains 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 ...