13 May 2014 07:00
Date: | 13 May 2014 |
On behalf of: | eg solutions plc ("eg", the "Company", "the Group") |
eg solutions plc
AGM Statement
eg solutions plc (AIM: EGS), the back office optimisation software company, is pleased to announce that at the Annual General Meeting being held today, the Company's Chairman, Duncan McIntyre will make the following statement:
"eg's financial performance since the year end has been encouraging and demonstrates that we are positioned for profitable growth and the delivery of enhanced shareholder value.
We continue to see significant potential in the back office optimisation market, where global enterprises are focussing on improving customer service levels whilst generating operational efficiencies, controlling cost and enhancing risk management. Demand for back office optimisation solutions continues to be driven by these key operational and financial issues, with demand for hosted solutions also increasing as customers look to shift their spending from capex to opex. For eg this transition is reflected in its increased recurring revenues, which accounted for more than a third of the total revenues in the past financial year.
During the year to 31 January 2014, we invested c.£1 million in initiatives to enable the Company to support global customer wins; in creating a strategic distribution partnership with Aspect Software Inc and expanding our client implementation team. Since the year end we have strengthened the Board following the appointment of myself, Duncan McIntyre, as Non-executive Chairman, and John Brougham as Non-executive Director. We bring substantial experience of listed and private companies in the technology sector. The Board has also implemented a new management structure, particularly within the Sales, Marketing and Customer Delivery functions, and with a number of senior hires in these key areas of the business, we have established a robust platform for growth which will help deliver on our stated strategy. We are also today pleased to announce the further strengthening of the Board through the appointment of Mark Brady, and welcome him to the Board.
We are also pleased today to announce that we have secured a contract to provide further licences to an existing customer worth approximately £0.4 million, to be recognised in the current financial year. This builds on other new contracts secured since the year end, including a contract with a new customer in the utilities sector, and a licence contract with an existing global banking customer in conjunction with our strategic partner, Aspect Software Inc., in addition to two new strategic partnerships. Our near term pipeline remains strong and we look forward to announcing further customer gains in due course.
The Board looks forward to reporting continued progress throughout the remainder of 2014 and beyond."
CONTACTS
eg solutions plc | +44 (0) 1785 715772 |
Elizabeth Gooch, Acting Chief Executive Officer | www.eguk.co.uk |
Redleaf Polhill |
+44 (0)207 382 4730 |
Rebecca Sanders-Hewett Dwight Burden David Ison | egsolutions@redleafpr.com |
finnCap |
+ 44(0) 20-7220 0500 |
Julian Blunt, Henrik Persson or Simon Hicks (corporate finance) Alexandra Clement (corporate broking) |
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.
For more information on the Company please visit www.eguk.co.uk