Last checked at 12 Jan 2010 07:00
7.00AM
12 january 2010
ACCESS INTELLIGENCE PLC
("Access Intelligence" or "the Group")
(Innovative Software-as-Service Solutions)
Trading update
Access Intelligence Plc (AIM: ACC), a leading supplier of Software-as-a-Service ("SaaS")
solutions for the compliance, procurement and media sectors, is pleased to announce a strong full year of trading under its new management team.
Progress has been good in all areas of the Group with operating profits for the year ended 30 November 2009 expected to be in line with market expectations on sales of around £6m (2008: £3.96m), while cash at the year end was £1.7 million.
Michael Jackson, Chairman of Access Intelligence, commented: "We are pleased with the Group's progress last year and today's update is evidence of the success of our strategy to position the group as a SaaS provider. In addition, the acquisition of Ether Ray in June 2009 and its integration with Solcara has enabled us to strengthen our service offering in the media and communications division."
The full year results will be reported in the Group's preliminary results on Monday, 01 March 2010.
For further information:
Access Intelligence plc
Michael Jackson (Chairman) 020 7831 5088
Jeremy Hamer (Finance Director) 07977 234 614
Cubitt Consulting
James Verstringhe 020 7367 5100
Astaire Securities Plc
Shane Gallwey 020 7448 4400
Noted to Editors:
Access Intelligence plc is the parent company of a group of Software-as-a-Service ("SaaS") solutions for the compliance, procurement and media sectors. The board is headed by Michael Jackson as Executive Chairman and Jeremy Hamer as Group Finance Director.
Product Portfolio
e-Procurement:
Managed by Alan Gray, a founder of the original business, who has been involved in developing financial solutions for over 20 years.
SaaS procurement & contract management solutions. Heavily compliance focussed following the recommendations of the Glover Report which proposed that all Public Sector organisations must engage suppliers via electronic tendering by 2012.
Over 130 customers incl. Bank of England, Met Police, Ladbrokes, and many large Local Government Authorities.
Recurring revenue represents 80% of total costs.
FSA Training & Competence:
Managed by David Alderson, a founder of the business with over 35 years of experience in the financial services sector, and a recognised industry expert in business critical software.
SaaS solutions for the financial services sector solving the industry's key challenges; controlling and monitoring compliance commitments and reducing administration overheads. Sales driven by the need to comply with the FSA's Retail Distribution Review.
Key customers include RBS & Aviva.
Recurring revenue will represent 46% of total costs by February 2010.
Media & Communications:
A new division created from the merger of two recent acquisitions, Solcara & Ether-Ray.
SaaS solutions for media relations & public sector news flow management. A market leader in the UK for media relations management software.
One integrated application enables users to capture, create, distribute, and analyse all communications, facilitating compliance with corporate messaging and upholding the reputation of the organisation.
Over 220 clients in local government, central government and police.
Recurring revenue represents 140% of total costs.