LONDON (Alliance News) - SQS Software Quality Systems AG on Monday said trading in 2016 met its expectations and said it has won a series of new contracts in recent weeks.
The business software firm said its revenue has taken hit from a focus on higher-margin work and on areas of its operations with the most growth potential, including Managed Services and Management Consulting, but overall trading was in line.
SQS added it has won a series of new deals in recent weeks, including a EUR30.0 million deal with an unnamed car maker, EUR20.0 million worth of public sector orders in Europe, and a managed service deal with an unnamed insurance firm worth EUR10.0 million.
"2016 has been a year of further progress for SQS as our consulting-led sales approach and focus on higher margin business have enabled us to improve the performance of our business," said SQS Chief Executive Diederik Vos.
"SQS enters 2017 with confidence as we are buoyed by recent sales wins whilst remaining focussed on making further inroads in strategically important markets," he added.
Shares in SQS were down 1.2% to 615.00 pence on Monday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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SQS Software Quality Systems AG (SQS)