Business
Preliminary Results
Preliminary Results.
About this update from Foresight Group Holdings Ltd.
[{"type":"text","content":"\n RNS Number : 2868N Focus Solutions Group PLC 09 June 2010 \n \n\n \n \n\n\n\n\nPress Release \n\n\n9 June 2010\n\n\n\n\n \nFocus Solutions Group plc\n('Focus' or 'the Group')\nPreliminary Results for the year ended 31 March 2010\n \n \nFocus Solutions Group plc (AIM: FSG), a supplier of enterprise solutions to the financial services industry, is pleased to announce its Preliminary Results for the year ended 31 March 2010.\n \nFinancial highlights\n\n\n\n\n●\n\n\nTotal revenues up 3% to £9.85 million (FY2009: £9.60 million)\n\n\n\n\n●\n\n\nOperating profit up 20% to £1.92 million (FY2009: £1.60 million)\n\n\n\n\n●\n\n\nAdjusted operating profit* up 33% to £2.27 million (FY2009: £1.71 million)\n\n\n\n\n●\n\n\nEBITDA before exceptional items up 42% to £2.85 million (FY2009: £2.01 million)\n\n\n\n\n●\n\n\nProfit before tax up 15% to £2.04 million (FY2009: £1.78 million) \n\n\n\n\n●\n\n\nNet operating margins 19% (FY2009: 17%)\n\n\n\n\n●\n\n\nNet cash balance £2.40 million (FY2009: £4.00 million) \n\n\n\n\n●\n\n\nEarnings per share:\n\n\n\n\n\n\n\no Fully diluted earnings per share 4.75 pence (FY2009: 5.26 pence)\n\n\n\n\n\n\n\no Adjusted fully diluted earnings per share 6.18 pence (FY2009: 5.43 pence)**\n\n\n\n\n●\n\n\nLicence and support revenue increased to 53% (FY2009: 18%) of total revenue\n\n\n\n\n \n*Adjusted operating profit comprises operating profit before exceptional items\n**As a result of the recognition of a deferred tax asset, the Directors consider that it is appropriate to provide information on a pre-deferred tax fully diluted earnings per share basis\nOperating highlights\n\n\n\n\n●\n\n\nSignificant new contract wins during the year included:\n\n\n\n\n\n\n\no Mastek £2.75 million\n\n\n\n\n\n\n\no Tenet £2.00 million\n\n\n\n\n\n\n\no AWD Chase de Vere £1.40 million\n\n\n\n\n●\n\n\nHSBC went live with phase 2 of their wealth management Point-Of-Sale solution to over 400 users\n\n\n\n\n●\n\n\nUS Patent granted to enable entry into the strategically important US market\n\n\n\n\n●\n\n\nAppointment of Ron Whatford as Non-Executive Director to the Board of Directors\n\n\n\n\n●\n\n\nContract extension with Assureweb, enabling the Group to share in the transactional based revenue for all electronic applications that are submitted via the portal within focus:360°\n\n...