SQS Trading Update16 Jan 2015 12:37
£175m mcap
- the world's largest specialist supplier of software quality services
- turnover of circa €268m
- earnings ahead of forecast due to lower average tax rate of 22.5%
- net cash position of €7m at 31 December 2014.
Interesting that this was a reversal from net debt to net cash, a swing of €9.9m and despite investments of €2.5m on development works in Pune, India, and the purchase of an additional €1.8m worth of SQS India BFSI (formerly Thinksoft) shares in December 2014. Without those one off spends, the company would have generated net cash of €14.2m.
- Managed Services growth now makes up 45% of total revenues
- A new client win with a European government agency worth at least €5m per annum in the period
- Revenues more than doubled in the US
- New US clients include a tier one bank, a payment processing company, an asset management institution and various other manufacturing and technology companies