Focus Solutions Group PLC
12 October 2007
Embargoed until 0700 12 October 2007
Focus Solutions Group plc
('Focus')
Trading Update
Focus Solutions Group plc (AIM: FSG), a leading supplier of adaptive software
solutions to the financial services industry, today issues a trading update for
the six months ended 30 September 2007.
For the first time, Focus has traded profitably in the first half of the year.
The business has performed strongly, continuing to make good progress in line
with our plans. Both turnover and profitability are expected to be significantly
ahead of the corresponding period in 2006 with sales revenues increased by at
least 35% to over £4 million. At the operating level, we have generated a profit
before exceptional costs, as compared to a loss of £0.3 million last year which
reflects the considerable improvements we have made to the business over the
last two years. Overall, the first half performance is consistent with market
expectations for the year as a whole.
Strong trading has been underpinned by a number of new contract extensions
signed with HSBC Bank plc and Openwork Limited during the period and the signing
of a strategic partnership with Oracle.
We continue to make progress with refining the business model in order to reduce
Focus' dependence on professional services revenues in future. This development
in turn will strengthen the quality of revenues and earnings as the percentage
of software license to service income increases.
Focus intends to announce its interim results for the six months ended 30
September 2007 in early December 2007.
Richard Stevenson, CEO of Focus commented:
"We are very pleased with the progress made during the first half of the year,
particularly the move into profitability which was achieved for the first time
at the interim stage. We continue to strengthen our customer relationships which
will help underpin the organic growth opportunities for Focus, whilst at the
same time actively exploring acquisitions which will develop our offering in our
core markets further."
Enquiries:
Focus Solutions Group 01926 468 300
Richard Stevenson, CEO / Martin Clements CFO
Seymour Pierce 020 7107 8000
Mark Percy
Smithfield 020 7903 0641
Tania Wild
Notes to editors:
Focus is an established supplier of easily configured & re-usable component
based software & business services, which enable faster, more effective & cost
efficient processing of complex customer transactions.
Focus has helped some of the world's leading public & private sector
organisations to successfully automate their most demanding customer processes.
For further information on Focus, please visit www.focus-solutions.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange