eg Solutions PLC Regulatory News (EGS)

eg solutions plc ("eg" or "the Company"; LSE-AIM: EGS), the global back office optimisation software company, is holding its Annual General Meeting at 10.30am today, at which Rodney Baker-Bates, the non-executive Chairman, will make the following statement:

"The strong financial performance achieved by eg for the year ended 31 January 2011 reflects the Company's strong position in the emerging back office optimisation software market, and I am delighted to report that last year's trading momentum is continuing.

Over the past four months, we have mainly focused on delivering the projects won last year, particularly in the UK and South Africa, whilst integrating Nuqleus 3D, the real-time data capture product acquired with Xtaq, into eg's core software product suite.

In the UK, having reorganised and expanded our sales team, we are building our order pipeline with new and existing customers. We expect this activity to result in new project wins over the coming months.

Overall, approximately 60 per cent of anticipated revenues for the current year are already contracted.

Our continued growth in revenues and profits, and continued focus on controlling costs, is reflected in a significant increase in our cash balance, currently standing at £1.3 million (as at 7 June) compared to £0.7 million at the time of last year's AGM (26 May 2010). Our strong balance sheet and cash flow will enable us to continue to fund investment in the business.

Underpinning eg's success are robust products which are used by a growing number of customers, all of whom have indicated that they would recommend the Company to others. On 12 May 2011, at a showcase of the Company's back office optimisation products held in London, eg's market assessment and position was further endorsed by Donna Fluss, President of DMG Consulting and the leading authority on the global back office optimisation market. According to DMG Consulting, the value of this market is expected to grow from $137 million in 2011 to $557 million in 2014, with eg currently having the most complete suite of back office optimisation software products available to address the market.

Andrew McRae steps down with effect from today as a director of the Company and, on behalf of us all, I would like to thank him for his strong commitment and contribution over the past five years and to wish him well for the future.

We are delighted that Phil Lee has joined the Board as a non-executive director with Board finance responsibility. His broad financial services experience, which includes positions with three eg customers, will be invaluable to us.

Overall, we are confident that we can continue to deliver profitable growth for the current year and beyond."

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About eg solutions plc

eg solutions plc is a global back office optimisation software company. Our software provides historic, real-time and predictive Operational MI. When implemented with our training programme for managers and team leaders to use this intelligence, we guarantee improvements in operational results in short timescales.

The Company, which is listed on the Alternative Investment Market ('AIM') of the London Stock Exchange, is committed to customer satisfaction and the ongoing development of its operations management solutions.