Business
Trading Statement
Trading Statement.
About this update from Foresight Group Holdings Ltd.
[{"type":"text","content":"\n Focus Solutions Group PLC\n12 October 2007\n\n\nEmbargoed until 0700 12 October 2007\n\n Focus Solutions Group plc\n ('Focus')\n\n Trading Update\n\nFocus Solutions Group plc (AIM: FSG), a leading supplier of adaptive software\nsolutions to the financial services industry, today issues a trading update for\nthe six months ended 30 September 2007.\n\nFor the first time, Focus has traded profitably in the first half of the year.\nThe business has performed strongly, continuing to make good progress in line\nwith our plans. Both turnover and profitability are expected to be significantly\nahead of the corresponding period in 2006 with sales revenues increased by at\nleast 35% to over £4 million. At the operating level, we have generated a profit\nbefore exceptional costs, as compared to a loss of £0.3 million last year which\nreflects the considerable improvements we have made to the business over the\nlast two years. Overall, the first half performance is consistent with market\nexpectations for the year as a whole.\n\nStrong trading has been underpinned by a number of new contract extensions\nsigned with HSBC Bank plc and Openwork Limited during the period and the signing\nof a strategic partnership with Oracle.\n\nWe continue to make progress with refining the business model in order to reduce\nFocus' dependence on professional services revenues in future. This development\nin turn will strengthen the quality of revenues and earnings as the percentage\nof software license to service income increases.\n\nFocus intends to announce its interim results for the six months ended 30\nSeptember 2007 in early December 2007.\n\nRichard Stevenson, CEO of Focus commented:\n\n\"We are very pleased with the progress made during the first half of the year,\nparticularly the move into profitability which was achieved for the first time\nat the interim stage. We continue to strengthen our customer relationships which\nwill help underpin the organic growth opportunities for Focus, whilst at the\nsame time actively exploring acquisitions which will develop our offering in our\ncore markets further.\"\n\nEnquiries:\n\nFocus Solutions Group 01926 468 300\nRichard Stevenson, CEO / Martin Clements CFO\n\nSeymour Pierce 020 7107 8000\nMark Percy\n\nSmithfield 020 7903 0641\nTania Wild\n\nNotes to editors:\n\nFocus is an established supplier of eas...