eg Solutions PLC Regulatory News (EGS)

eg solutions plc

Contract Win and Trading Update

eg solutions plc (AIM: EGS), the back office optimisation software company is pleased to announce that trading during the six months ended 31 July 2014 has continued strongly and, following a significant new contract win and strong momentum in trading, eg now expects to report financial performance for the full year to 31 January 2015 ahead of current market expectations.

Contract win

eg has won a material new contract with an existing client, a major third party outsourcing company. Revenues under the initial contract are expected to be in excess of £1.2m, of which £0.63m will be recognised in the current financial year, and separately, eg will receive a further amount per year in additional annually renewable licence revenues.

Interim trading update

As reported in the Company's trading statement of 3 June 2014, there has remained a strong market for eg's product suite during the first half of the year and the Company expects the market opportunity to grow during the second half and beyond.

eg secured nine new contract wins from new and existing clients during the first half, contributing to its recurring and repeat revenue base and a forward order book of £13m. The Company expects to report revenues for the first half of approximately £4m and profit before tax above £0.6m. On 31 July 2014, the Company had a gross cash balance of £0.8m.

eg intend to continue to reinvest during the course of the current financial year into growing its operational structure, expanding its revenue pipeline and capitalising upon the market opportunity.

The Company will provide further details with its interim results for the six months ended 31 July 2014 on Wednesday, 17 September 2014.

Elizabeth Gooch, acting CEO of eg, said:

"We are pleased to report that the confidence we have in the market opportunity is being borne out by performance during the first half, and that the outlook is sufficiently positive to lead us to revise our expectations of performance for the full year.

Our Board and Management team are making tangible progress in seizing the emerging market for back office optimisation and improving the operational performance of the Company. We are developing a robust platform for growth and continue to enhance our software which is already identified as the leading product and industry standard in back office optimisation.

We look forward to updating the market with our progress."

Ends

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About eg solutions plc

eg solutions is a back office workforce optimisation software company. eg pioneered this new market space and developed the most complete, purpose built workforce optimisation software for back offices - the only solution that manages work, people and end-to-end processes wherever they are undertaken, anywhere in the world.

Our software is now used by leading UK, international and global companies in multiple industry sectors including financial services, healthcare and utilities.

Using our forecasting, scheduling, real-time work management and operational analytics capabilities we deliver measureable improvements in service, quality, productivity and regulatory compliance. When supported by our implementation and training services we guarantee return on investment in short timescales.

Regardless of who is serving the customer - call centre, back offices, branches or the field - our solutions provide true insight into the full customer service process and promote world-class operational management capability.

The Company is listed on the Alternative Investment Market ('AIM') of the London Stock Exchange (EGS)