LONDON (Alliance News) - Software company IS Solutions PLC on Friday said its revenue and profit are both set to beat market expectations for the full year amid strong trading in its analytics products and from its Celebrus acquisition.
IS Solutions said it is seeing very strong underlying demand for its analytics products and sales are currently "well ahead" of its expectations. The group added it has recently won two major contracts from financial services sector clients for its analytics platform, which will be worth around GBP4.0 million in revenue for the year to the end of March 2016 and which will add around GBP350,000 a year in recurring revenue from thereon.
The company also said Celebrus, the 'big data' products company it acquired at the end of 2014, is performing ahead of its expectations, with sales up around 64% in the first five months of IS's current financial year, again boosted by contracts in the financial sector.
As a result of the strong start to the year, the group said its revenue will come in ahead of market expectations, while its profit will "significantly exceed" the current market view.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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